The Central Housing and Planning Authority rolled out this assistance programme in Regions 3, 4, 6 and 10 during the first half of 2022 and to date, 399 persons have registered. This is according to the Ministry of Finance’s Midyear report 2022.
The Central Housing and Planning Authority’s (CH&PA) home construction programme allows an applicant to choose from three pre-designed units at a cost of $7 million, $9 million or $12 million.
It also allows applicants to pre-qualify for loans with financial institutions such as Republic Bank and New Building Society to meet the cost of construction.
This initiative seeks to intensify the Government’s home ownership drive, while also addressing challenges faced by persons who have lands but are unable to build due to lack of finances.
Meanwhile, distribution of 800 home improvement subsidies is planned for the second half of the year, “with 121 home improvement subsidies, valued at $60.5 million to be distributed in the third quarter, and a further 679 subsidies before the end of the fourth quarter.”
8000 houselots are expected to be distributed in the latter part of the year as 1, 843 houselots were distributed from January to June 2022. In addition, a total of 449 land titles and transports were issued in the first half of 2022, and an additional 5,600 are scheduled for the second half of the year. Meanwhile, the Government expended $8.1 billion of the $12.4 billion allocated to develop the housing sector.