Study on Housing Highlights some positives
A STUDY by the University of Cape Town has revealed that the housing construction sector has the potential to improve living standards of citizens, and also significantly address unemployment in the country.
The study audited the social and economic impact of affordable housing developments commissioned by International Housing Solutions (IHS). The IHS is a global private equity investor which has financed projects with a combined total value of more than R7.8bn.
The research had the objective of determining the indirect benefits derived from living in integrated affordable housing developments, as well as the job creation impact of such developments. The study found that it takes between 1 200 and 1 500 man-hours to build a 40m2 house, with the average being approximately 1 289 hours. This comprises 541 hours of skilled and 748.8 hours of unskilled work.
Taking into account direct and indirect employment opportunities, it is expected that IHS’s investments will initially create 100 000 jobs. An estimated 5 000 jobs will be created per annum, through the maintenance and management of housing units, the payment of rates and taxes , and the expenditure on goods and services by households directly related to the housing units.
IHS’s developments are all designed to ensure healthy and integrated communities; the plan is to effect improvements in the quality of life for citizens