Chronicle EditorProperty Reporter
THE National Social Security Authority is now soliciting for market interest on its St Tropez residential flats in Eastlea, after completing the refurbishment of demo-units. The residential flats will be sold by the authority’s financial institution, National Building Society, once all the processes are complete, as NSSA has decided against renting out the premises.
NSSA general manager Elizabeth Chitiga, yesterday told The Herald Property Guide that the authority was now looking at market interest before availing the flats for sell.
“We have run some demo refurbishments of the flats and we have been inviting the market to have a look before we can put them on the market. The idea is to see the market interest towards the properties.
“People are going there to see the flats and in return we are getting the market valuation of the properties,” said Mrs Chitiga.
“The model where we used to rent out flats is no longer attainable,” she said adding that the cost of refurbishment has been on NSSA.
This current development comes after about 60 families, headed by pensioners and widows, occupying St Tropez apartments were evicted as NSSA reclaimed its properties.
NSSA was banking on a judgment delivered by Supreme Court judge Justice Nicholas Mathonsi in March ordering the tenants to vacate the premises.
NBS has already started offering mortgage finance where individual clients will go through a credit evaluation process, which entails that the society be furnished with a sustainable proof of income.
The current national housing backlog reportedly stands at about 1,25 million units. Under the National Housing Delivery Programme (2014 – 2018), the target is to deliver 313 368 fully constructed housing units or serviced stands, with the beneficiary being the main contributor, and Government providing land and bulk infrastructure services.
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