Govt Warns Property Speculators

by Shelton on December 29th, 2014

filed under House Loan

The finance ministry also agreed with the housing ministrys subsidy proposal that houses will be allocated to successful applicants according to income brackets in order to ensure fair distribution amongst the different income groups.

For example, if someone earns N$7 500 per month and qualifies for a house loan of N$360 000, then this person should not buy a house of N$200 000. This will ensure that houses are allocated to the intended beneficiaries as per income levels and prevent those with higher incomes to benefit at the expense of those with low incomes, she said.

Meanwhile, NHEs choice to rush decisions of awarding the mass housing tenders at inflated prices has been criticised by senior officials in government.

They pointed to the fact that State institutions such as the Namibia Statistics Agency- which did extensive research on the housing conditions in the country-had been sidelined by the housing parastatal.

Efforts to get comment from the housing ministry were unsuccessful as Namoloh is on leave.

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