WHAT HAPPENED| DRAFT LEGISLATION THAT the rich and the poor are going to be compelled to become neighbours is again in the headlines. In terms of it, new developments will have to set aside up to 30% of the value of each development for low-cost housing. In addition, those will have to be spread among the larger houses. Admittedly, the proposals make provision for exceptions, provided developers allocate a larger portion to low-cost houses in other developments.
WHAT THE OTHERS SAID SUNDAY PAPER RAPPORT said the proposed legislation had already led to shock waves among developers, who said that it would bring the residential building industry in SA to its knees. “Nobody will be prepared to buy units in such developments,” says Sable Homes CEO Jo Pelser. Beeld reported that the destabilisation of SA’s housing market could have a negative effect on the growth of the middle class.