Decent Housing : The Gov't Sets Income Ceilings For Accessing Social Housing.
Dernière mise à jours il y'a 2 moisThe Minister of Finance, Louis Paul Motaze, and the Minister of Housing and Urban Development Celestine Ketcha Courtes,signed a joint orders on Friday September 20,2024 in Yaounde ,aiming to regulate access to social housing.
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As part of its national development strategy, Cameroon's Government has launched an initiative to construct 10,000 social housing units and prepare 50,000 serviced plots, enhancing access to affordable housing and urban infrastructures . This joint orders establish the income eligibility thresholds for accessing these social housing units, including the minimum and maximum thresholds for rent-to-own payments.The joint orders aim to establish clear guidelines for leasing and lease-purchase agreements , for newly constructed or ongoing housing projects, promoting transparency and fairness in the housing market. Minister Ketcha Courtes stated that, this initiative demonstrates the President's dedication to meeting the increasing demand for housing among Cameroonians. According to national statistics , Cameroon's housing deficit of 2.5million units poses significant challenges, as the country struggles to provide affordable housing options amidst poverty, joblessness and demographic expansion.In 2010 , the government Initiated a flagship program to construct 10,000 housing units , enhancing access to affordable and decent housing in Cameroon. The exorbitant costs of housing, with prices beginning at over CFA 10 million , combined with construction delays hinder access to affordable housing for low-income families.A study conducted by the National institute of statistics between 2016 and 2018 revealed that over 80% of Cameroonian households cannot access housing without state support , emphasizing the difficulties encountered by low-to-middle-income families in securing home ownership through self financing.For instance , to secure a loan exceeding 15 Million FCFA,a monthly income of atleast 300,000 FCFA is required, a sum unaffordable for most Cameroonians .
Floyd Miles
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