Affordable homes builder posts profit

The demand for housing has always been there. New developments are taking place all around the country. More and more houses are being built. Every single year the number increases and the same could be said for the demand.  A lot of construction is taking place in Gauteng due to the increase of complex construction.

RBA Homes which is currently one of South Africa’s trusted supplier of affordable homes has built over 8 000 new homes in the country. The affordable homebuilder has listed a profit of R14.2 million on the stock exchange. The housing market has picked up due to the easy access of bond finances for potential homeowners.

Banks are still hesitant of lending consumers money due to the debt crisis facing thousands of people in the country. In 2011 at the end of financial year, RBH Homes had an increased number of loans and bond applications waiting for approval from the banks. In addition, at the end of 2011 RBA built 613 houses.

Government has added new changes to its housing subsidy for people earning up to R15 000 per month now qualify for subsidy. In addition, a housing fund is going to get R1 billion, which should make the process of acquiring a house much easier.

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