SA Affordable Housing November / December 2016 // Issue: 61 - Page 11

NEWS This is what makes the South African GAP housing sector an interesting opportunity, particularly in the light of the economic slowdown. “This is the market in South Africa that has the greatest potential to grow over the next few years, particularly when you deliver a quality product that offers homeowners a bit more than others,” Power says. “Our philosophy is to give people more for the cheapest price. If you don't do that, your buyers will have to loan more money, which increases their risk of losing the roof over their head when they can't afford the monthly bond payments,” he says. “From a business point of view we can do this because we deal with huge volumes. This means we can negotiate on good pricing with the suppliers of our extractor fans, solar geysers, cupboards, boundary fences, burglar bars and gates and alarm systems, which are standard fits.” Power Developments' most recent housing project, The Vines in Eerste Rivier, is a good example, he says. “The response has been unparalleled.” The Vines will include a combination of GAP and open market homes. At this stage purchasers earning R12 000 or more are able to afford the homes (subject to deposits available and credit history). The interest in The Vines, which comprises 83 freestanding homes in th H؀ѼHԀɥɅ)ɕ́ѡͥՅѥȁݡAݕȁٕ)չѡ݅ɐݥAAɬMՅѕͥ)5ե镹ɜѡ]ѕɸ éɝЁ%ѕɅѕ)IͥѥٕЁɥ͕̰̀̀)ՑȀЁٕɹеՉ͕ͥչ̰@)̸͕́()ѥӊéɕͥѡЁѡݼɽ)͕́ЁQY̸%Aݕȁɽ(+qQ@͕́ѥձȁݕɔɕձȸ)ͽхɥѡՍѥɥݔ)́ͅѠt́ͅAݕȸq%ӊéȁѡЁѡ́́ݡ)݅ЁɥЁܻt)QչQÝٕЁѽЁѡ))ձظ((Q@͕́ѥձ)ݕɔɕձȸЁͽ)хɥѡՍѥɥ)ݔ́ͅѠ)=I 1)M!=UM%9()9=Y5 H 5 H((((0