The new housing program is for citizens with middle incomes who can make a down payment of 40% of the home price before acquiring their house and the remaining 60% within a specific period that will be disclosed by the administration when the project is launched.
The Addis Ababa City Administration is to launch registration for a new affordable housing scheme shortly. The new housing is for citizens with middle incomes who can make a down payment of 40% of the home price before acquiring their house and the remaining 60% within a specific period that will be disclosed by the administration when the project is launched, Capital has learnt.
This affordable housing scheme was introduced two years ago when the government announced its five year GTP program.
According to the government’s plan, the houses are for those who have not already benefitted from other government housing projects. Though affordable, these houses are expected to be of higher quality and more spacious than the currently undertaken condominium housing projects. According to Mekuria Haile, Minister of Urban Development and Construction, the registration for this new affordable housing project will commence in the near future.
Currently the city administration has formed an independent office responsible for this specific project. Mekuria said that most of the preconditions are already completed; such as setting the price and criteria to identify beneficiaries.
“The design of the houses is completed as well as screening for contractors responsible for building,” the minister added.
According to sources, not everyone with the capacity to meet the down payment will be allowed to register for the new option, as the scheme targets those who cannot afford to go to other private real estate companies.
“The government has set the criteria and we will disclose it when the registration is announced,” sources added. According to the plan, the state owned Commercial Bank of Ethiopia (CBE) will manage the registration and payment scheme.
To solve the residential housing problem, which is one of the major snags in the city; the government has been working on affordable housing projects for the past decade.
Low cost housing projects, popularly known as condominiums, were first introduced in the capital city in 2004 when the city administration was in the hands of former Mayor Arkebe Equbay, who is now a construction sector adviser for the Prime Minister.
But the low cost housing project is not satisfying the demand. The government has constructed tens of thousands of houses since the program was launched.
The housing scheme with a 40/60 percent payment is being introduced by the government to address the residents that are able to pay a larger amount than the condominiums.
The commencement of the new scheme will be announced at a press conference that will be led by Mekuria Haile, Kuma Demekssa, City Mayor and Bekalu Zeleke president of CBE. According to sources at the Ministry the new scheme will be introduced before the coming Ethiopian New Year, that is September 11, 2012.
Source: capitalethiopia.com
This is really a good idea. I appreciate our government to again give more chance to those who do not have houses. As we know house/shelter is one of the three basic necessities for human beings. Living in Addis with out having a house is like living in hell. Because if you don’t have a house you give all your money to those few house holders and savage brokers. This will be the best remedy to those who were worthy of having it, but don’t. So, I encourage and pray for our government to succeed on this activity.
Finally, you the officials be careful about how you distribute the houses as there are the powerful ones, money or power, who dream to gather houses to themselves and their best ones.
what if I can not pay the 40% in a lump sum is still my question.Anyways good hope.But I still doubt that those who afford to buy real estate houses may participate here also.
It is interesting news however the competition becomes a challenge since limited number of houses are constructed in respect to demand.
Ya Sure …. The competition is so crazy. But, the Government should follow a strategic, transparent, and accountable principle. Some critical issues should be properly addressed at the right order. Forinstance, Length of residents settlement in Addis should be considerd because the principle “First Come, First Served” should be respected. Cautious House ownership Screening strategy should be made. Officials should never be part of this Condo project, priority should be given for those who have little opportunity. Strict supervision and controlling mechanism should be established. Public comments and oppinions should be attentively followed. Immediate corrective measures should be taken in cases of rentseeking attempts. …. GOD Help our Administrators to be WACHFUL.
It is very good. what for those registered in the first phase condominium house but still not won the house?
It is a good idea to offer the Condo with the subsidy, but do you think they can afford to pay down 40%? I doubt it. Here is my suggestion, offer high quality Condo for Dispora with a price higher than offered to those people who cant afford the 40% and use the extra money to help pay our counry men & women working hard to make ends meet. Hope it make sense.
When u say them, if u r refering us the residents, u must be a stupid diaspora looking for an advantage u r not gona get, it is not the mony that we luck but the house it self being occupied by the so called kiray sebsabys who knows how to penetrate the weak system as we all know. Any way we can afford to pay even more than 50%, especially with such a wonderful schem!
REALY IS GOOD OPTION
የአዲስ አበባ ከተማ አስተዳደር የሕዝቡን የቤት ችግር ለመቅረፍ የሚያደርገው ጥረት የሚበረታታ ቢሆንም ነገር ግን እንደ መጀመሪያው ማለትም በ1996 ዓ.ም. የኮንዶሚኒየም ቤት ምዝገባ ሲከናወን የምዝገባ ሥርዓቱ ለሁሉም ኢትዮጵያውያን ክፍት ቢሆንም ማነው የቤት ችግር ያለበት፣ የኮንዶሚኒየም ቤት ተጠቃሚ ለመሆንስ በቅድሚያ መሟላት ያለባቸው (ለምሳሌ አንድ ሰው እድሜው 18-ዓመት ቢሞላውም ገቢው ምንድን ነው፣ በሚመዘገብበት ጊዜ የሚኖረው ከማን ጋር ነው፣ የትውልድ ቦታው የት ነው ምክንያቱም ከክፍለ አገር መጥተው እና ክፍለ አገር ቤት እያላቸው እዚህ አዲስ አበባ ተጨማሪ ቤት የወሰዱ እና ለመውሰድም የሚጠባበቁ ስላሉ፣ ሌሎችም ምክንያቶች) ይህ በተለይ 40/60 ፕሮጅክት ላይ ከፍተኛ ጥንቃቄ ቢደረግ ለቤት ፈላጊው ጥሩ ይሆንል ብዬ አስባለሁ፡፡
please start registration soon.
It is a good news to hear such ideas come from the government which I appriciate .I have no words to say something but i have one question.I tried to register at the bank but still now the Ethiopian commercial bank didn’t start the registration ,do you tell me why? please I want to know this and I want to thank you very much inadvance for your response.
sincerely,
Bisrat Demeke
Except in some areas of limitation to full fill some articles, the Ethiopian policies and regulations seems good.The big problem what Ethiopia have faced is unable to change the theory in to practice. Most of our leaders have passion to be popular what they have rather than to do something for others. They want to have a good house of their own that nobody hasn’t. They want to have money in the bank, a big amount of money of their own that is not in anybody. They want people bow down before them because of the property, the staff what they have. So, they have always designed the the theory may be the way for them selves to get something,money. May be the new designed of plan for the house to the middle class people is the part of their way to get a big money. The misterious thing what we see they do have so much money for this people, but is not active, I mean it warms the bank of the western world or the Ethiopian commercial bank of Ethiopia. If someone have reserved for many years in a trunk, he can get the the same money after money years, the stagnante money. Our, Ethiopian nature and understanding is the same. if someone put money for a hundreds years, he can get the same money, a paper, in the trunk. that is nothing. Today’s the big infflation in Ethiopia is the result of that. we do have money in the bank that has been depposited for a long time. as a matter of fact we would change the money to the basic needs what we should have; a house, a job, etc., that are very important for life. to come to the reality we have not been doing in that way. we designed something and if not that much more important for our personal interest, we again come to change its fast to be late, like condominium in Addis Ababa, or like some other things. I hope to see this policy the solution for home many innocent Ethiopian Middile calss people. thank you so much.
Please start register send email for me I need buy house Thank you.
God belss our gov. realy it is good start for us pleas start soon and inform us weher is the registreation will be heald.
Great matter but when does the actual date of registration? I need you to inform us on the web or on my email. Thanks our gov.
nice to here these.it has been 5 years since i graduated but i can not afford to have a house of my own not even a rental house.i’m fed up of staying like a parasite on my families.if this proposal come in to action (i.e if it can escape from the mouth of those corrupt officials) i might have a house of my own.
It is nice start and i hope you done in correct way with out partiality. “God bless Ethiopia”.
yih edil be wich hager leminorut ethiopiyawiyan ayimeleketm weyis yimeleketal lemisale egni besidet lemininorew bet lelilen sewch melte new??
ameseginalehu
Its great news, Let me know when registration start please .
Really appreciated & our peoples are awaiting to be served in this pragmatic & interesting program.