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Tenants become homeowners via Cape Town’s ‘No Cost Transfer’ programme<p>​</p><span><p></p></span><p>'About a year ago we launched a unique programme to enable qualifying beneficiaries to take ownership of their own homes at no cost. We're the only metro in South Africa that has this initiative, which is really about driving dignity and inclusivity through property ownership. We have about 22 000 City-owned rental units or serviced sites where tenants may qualify for ownership at no cost. We've allocated almost R40 million for these "no-cost transfers" over the next three years. Through this programme, we are also funding the attorney transfer fees, and insurance costs of the rental units from the date of sale until the registration of the property. </p><p> </p><span><figure class="subtopic-fullsize-img"><img src="" class="responsive" alt="" style="width:1023px;" /></figure></span><span><p>'We will continue to elevate this programme in the new year and drive the empowerment that comes with property ownership, for generations to come. Our no cost transfer programme is one of the ways in which we are serious about building a city of hope for all in Cape Town,' said Mayor Hill-Lewis.</p> <figure class="subtopic-fullsize-img"> <img src="" class="responsive" alt="" style="width:992px;" /> </figure>​​</span><span><p>'To own a property, where once you were prohibited from owning property due to the apartheid legislation, is one of the greatest tools of empowerment and redress. The programme entails property transfers of the legal tenant of City-owned rental unit; purchasers of delayed transfer units and historic serviced sites. Thanks to all our teams for working so hard to make this unique initiative a success and to achieve even greater things in the year to come,' said Councillor Pophaim.  <br></p> <figure class="subtopic-fullsize-img"> <img src="" class="responsive" alt="" /> </figure><strong>END</strong><br></span><p><br></p>2023-12-13T22:00:00ZGP0|#1d539e44-7c8c-4646-887d-386dc1d95d70;L0|#01d539e44-7c8c-4646-887d-386dc1d95d70|City news;GTSet|#62efe227-07aa-45e7-944c-ceebacca891dGP0|#3ed99010-b185-4fa3-b20b-8678bb66785c;L0|#03ed99010-b185-4fa3-b20b-8678bb66785c|transfer cost;GTSet|#2e3de6c1-9951-4747-8f53-470629a399bb;GP0|#a4eccbe6-2bec-49aa-ad58-8ed41a372c82;L0|#0a4eccbe6-2bec-49aa-ad58-8ed41a372c82|housing;GP0|#3d95057b-650e-4d92-bbe2-c0d2b2bb2bc2;L0|#03d95057b-650e-4d92-bbe2-c0d2b2bb2bc2|owner10

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