The City of Cape Town has approximately 16 000 rental units available for transfer to qualifying tenants in terms of the Enhanced Extended Discount Benefit Scheme (EEDBS). The units for sale are single row type cottages and maisonettes from various locations across the city.
Qualifying tenants with a household income of less than R3 500 per month are eligible for a discount of up to R88 228, or the value of the Individual Subsidy for Breaking New Ground Housing. Tenants with an income of between R3 500 and R7 000 per month are eligible for a discount amount of R7 500.
“As part of the City’s commitment to building an Opportunity City that cares for its citizens and that is committed to redress, this administration will continue to do all we can to provide residents with the opportunity to own their own homes,” said Councillor Tandeka Gqada, Mayoral Committee Member for Human Settlements.
In order to assist and encourage existing tenants to take transfer of their saleable units, the City is making a financial contribution of R500 as a transfer fee subsidy with the aim of expediting the transfer of these units.
The City will also write off any residual services and rental arrears where the subsidy does not cover the unit’s sale price and existing arrears.
Multi-storey flats are not being considered for sale at this stage as they can only be sold through sectional title as set out in the Sectional Title Scheme Act.
Public meetings detailing how the tenants can take advantage of this offer will be released in due course.
“I look forward to working with all parties, both from the City and from relevant communities. In the meantime, I encourage all qualifying tenants to visit their local housing office and to talk to the staff to find out more about this very exciting opportunity”, said Councillor Gqada.
