A South African property developer is helping aspiring homeowners who earn less than R22 000 a month access an “underutilised” government housing subsidy to purchase their first homes.
This Finance Linked Individual Subsidy Programme (Flisp) grant helps qualifying first-time buyers caught in the “gap” market – those who historically earned too little to buy property – with financial support. Property expert Toni Enderli says the Flisp subsidy, combined with the lowest interest rates in 50 years, transfer duty relief and higher home loan approval rates, means many families who rent could, for the first time, be able to buy into Ihlathi Estate in Parklands, Cape Town.
Responding to reports of bureaucratic challenges in accessing Flisp subsidies, Enderli says International Housing Solutions (IHS), developers of the entry-level, innovative and eco-friendly, gated community Ihlathi has appointed dedicated Flisp agents to help.
“Many who qualify are not accessing Flisp funding due to various challenges. Our Flisp team is helping them buy their first home in Ihlathi by taking away the administrative pain.”
Wayne Lawson, development sales director at Realtor of Excellence, adds that low-interest rates, no transfer duty or fees, higher loan rate approvals, attractive entry-level offerings and Flisp subsidies offer “unprecedented” opportunities to prospective home buyers.
“Monthly repayments for one-bedroom units – priced from R699 999 – at Ihlathi are less than R5 500 per month, compared to R7 500 a month to rent a similar space.” Prices of two-bedroomed units start from R779 999 and three-bedroom units from R1 249 999.
Furthermore, notes IHS’s South African managing director Rob Wesselo, Ihlathi is Green Building Council-certified, includes solar geysers, has fibre-ready internet, and 24-hour security monitoring.
“In addition to affordability, you’re buying into a safe, secure and ideally located community on a green belt. This value is unprecedented.” To see if you qualify, call Ihlathi’s Flisp specialist Ayeshia at 082 871 6799 or visit http://ihlathiparklands.co.za or e-mail firstname.lastname@example.org.
You can also contact the following agents:
• Samantha 064 684 5507
• Bronwyn 082 770 0463
• Jason 079 625 5057
• Liezl 066 347 1686