Chronicle Editor
GOVERNMENT has set a target to build 225 000 houses by 2025 as it moves to clear a 1,2 million housing waiting list backlog which is largely blamed on the unavailability of mortgage finance. The little mortgage finance available is beyond the reach of most homeseekers. The challenge, therefore, is to make available affordable mortgage finance to enable people to either build or buy houses.
Speaking at the launch of the Zimbabwe National Human Settlement Policy (ZNHSP) and commissioning of the Marimba Flats project in Harare last Thursday, President Mnangagwa said Government is spearheading the development of modern and affordable urban and rural human settlements and amenities.
He said as the Government builds houses to clear the backlog, colonial structures in old suburbs will be pulled down to build better houses that are in tandem with the country’s vision to be an upper-middle class economy by 2030.
He said Government will pull down colonial structures in Makokoba suburb in Bulawayo, in Mtapa suburb in Gweru, Mbare suburb in Harare and Sakubva suburb in Mutare. Work to replace the colonial structures in Sakubva suburb has already started under the Sakubva Urban Renewal Project.
Government alone cannot mobilise adequate resources to clear the housing waiting list backlog hence the need for the private sector and councils to complement Government efforts to provide families with decent accommodation.
Banks on their part, should offer affordable mortgage finance to enable individuals to either buy or build their own houses. Government is building houses mostly for its civil servants while individuals should be able to access mortgage finance to build their own houses.
Housing development in Zimbabwe has for the past few years been adversely affected by the exorbitant cost of mortgage finance hence most towns and cities have been witnessing ballooning housing waiting lists.
Shelter is one of the basic human rights and therefore, it is the wish of each and every family to have their own house. We want councils and private developers to once again spearhead housing development in their respective areas as has been the case in the past.
The unavailability of mortgage finance has been blamed for the present state of affairs and we are therefore, calling on banks to prioritise mortgage finance.
The mortgage finance interest rates should be affordable to the majority of homeseekers. Zimbabwe’s economy is on the recovery path as evidenced by the many positive developments in the different economic sectors and banks should play their part by financing housing development.
People’s living standards are measured by the type of accommodation among other factors and it is therefore, incumbent upon Government, councils, housing developers, banks and other financial institutions to strive to ensure people have access to decent accommodation.
Online Reporter