City enables thousands of new homeowners

Council recently, on 27 October 2022, approved the No Cost Transfer Programme which will enable beneficiaries of Community Residential Units (CRUs) and similar municipal-owned housing properties to purchase their homes with the transfer costs paid for by the City. Some 22 000 Council-owned properties in various areas of the metro are available to qualifying beneficiaries for purchasing so they may become property owners, now without the additional financial burden of transfer costs.
‘The City is committed to empowering more Capetonians in becoming homeowners to enable them to leverage their homes as financial, social, and economic assets. The City has for many years encouraged residents to purchase their units. However, a number of residents struggled to fulfill all of the financial requirements to purchase their properties and become property owners. To overcome this barrier, the City will fund the attorney transfer fees and fix same at R2 500 per property irrespective of the property purchase price, on behalf of the beneficiaries.

‘The long-term benefits of becoming a property owner is far-reaching and includes having the security of owning property. In addition, the house can be added to the owner’s estate so that it can be included in their wills to secure their homes for their children and grandchildren in future.

‘This is an exciting opportunity for the City and we encourage all qualifying beneficiaries to take this step toward owning their own property. If our beneficiaries have any questions regarding this opportunity, they are encouraged to visit their local housing office where they will be assisted. For residents of the City, now there is truly no place like home,’ said Mayoral Committee Member for Human Settlements, Councillor Malusi Booi.

Anonymous tip-offs welcomed to help the City protect its projects and operations:
Residents can give anonymous tip offs if they are aware of illegal activity that is taking place; that has happened or is still to happen. Please call 112 from a cell phone (toll free) and 107 from a landline or 021 480 7700 for emergencies.

Source: City Of Cape Town

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