Lack of affordable housing has enormous negative socio-economic consequences. It limits opportunities for previously disadvantaged, upwardly mobile households to benefit from the potential financial rewards of owning a home.
There is a wide gap occupied by households who earn too much to qualify for state assistance, but too little to afford private-sector built units. Housing Impact Fund for South Africa (HIFSA) aims to fill this significant housing gap, and focuses primarily on residential households earning between R3 500 and R16 000 per month. Our focus on affordable housing is therefore not only a commercial response to a real need, but a strategic response to a national priority.
This fund finances the construction of 'affordable' homes for sale and rent, as well as providing housing loans and rental accommodation for families and students, helping fill the gap in the market between government-provided housing and those who have access to bank finance to purchase their own homes. HIFSA is currently the largest single source of development funding in the affordable market, having provided more money than South Africa's big four commercial banks combined since 2010.