About Me

My photo

I am a qualified Attorney. I specialise in Property Law, Commercial Law, Corporate Law and Trusts.
Please visit our website at www.prop-law.co.za for more details.
I am an elected Committee Member of the Property Committee of the Association of Pretoria Attorneys and through my involvement, I like to ensure that I am constantly at the "sharp-end" of Conveyancing Practice.

I am the elected Chairman on the Gauteng Council of SAPOA. The South African Property Owners Association (SAPOA) is the biggest and most influential institution in the property industry. SAPOA members control about 90% of commercial property in SA, with a combined portfolio in excess of R150 Billion (about $22 Billion). I am also on the National Council and the National Legal Committee of SAPOA.
Member of the Institute of Directors South Africa and Member of the Sirdar Governance Panel.

15 April 2013

Affordable property is key to wealth creation, says study

Click HERE to visit us on Facebook

Affordable property is key to wealth creation, says study

The provision of affordable housing in the so-called gap market in South Africa not only resulted in improved welfare and social cohesion, but was also an important facilitator of opportunities and wealth creation, according to a new study.

The research, conducted by a team led by UCT associate professor Francois Viruly, found that those who obtained homes in this sector moved beyond viewing them as a mere shelter but saw them as an asset, and the appreciation in the value of these assets stimulated entrepreneurship, job creation and access to higher levels of education.

Soula Proxenos, the managing partner of International Housing Solutions (IHS), a global private equity investor that pioneered the financing of affordable housing projects in South Africa with a total value of almost R8 billion to date and commissioned the research, said housing in the affordable sector enabled a broadened role and became an asset that appreciated, stimulated economic activity and created wealth.

"In the US it is the singlebiggest source of funding for new business creation. The units play a role as a financial asset and a majority of those interviewed during the research believed the value of their assets had indeed increased," she said.

Viruly said increasing entrepreneurship in South Africa through affordable housing would also lead to increased employment as entrepreneurship had been shown to be a key contributor to job growth globally and had been the primary source of job growth in the US for the past 30 years.

Viruly's research also supported government findings that massive urbanisation was adding to the housing backlog, which includes the gap market.

Affordable housing or the gap market refers to households with an income between R3 500 and R18 000 a month, who earn too much to qualify for the government's low-cost subsidised housing and too little to afford the cheapest standard private sector houses or to qualify for bonds.

Soula Proxenos and Francois Viruly at Aurora Village in Belhar, Asrin Property Developers' project with International Housing Solutions

Among the major reasons listed by respondents for moving to an IHS-funded development was a desire for better access to their places of work, an improved and safer environment, proximity to schools and financial considerations.

In addition, 72 percent of respondents said their quality of life had improved while only 3 percent believed their life had worsened to some degree.

Proxenos said housing was like a ladder and if there were rungs missing, the ladder was broken.

"Creating housing stock in the gap market gives previous RDP households housing to move up to," he said.

Proxenos stressed that the government could not fix the whole housing ladder and the gap market was ripe for private sector development.

Business Report


  1. Hi,

    Just feel glad by reviewing your updated Blog which showcase unique ideas of real estate properties. You have perfectly implemented the current real estate property strategy that every people will love to spend more time on it.Waiting to explore more from your Blog…!


    Tim Manning

  2. Hello,
    I truly appreciate by reading this new and informative affordable property blog. I expect more and more affordable property blog with beautiful photos in upcoming future because, we all are related to business and it is necessary to everyone to remain alert about all sorts of things.
    Keep it up!

  3. Hi,
    Actually I have been finding lot of things about real estate market updates, because my passion is to gather more knowledge on properties ideas, that’s why I am always reading these types of property related stuffs. So finally thanks for sharing this valuable blog for visitors and I will definitely visit again next updates.

  4. Hello,
    Thanks for sharing this interesting things, because really you have initiated the updated real estate properties ideas in your Blog that everyone will love to read, and wait for the next post. Just proceed with the updated things and post the same in your Blog so that more people will love to read like me!

  5. Property in Noida Extension
    You want to look or buy a Property in Noida Extension? 333 Acre, India’s leading property portal helps in buy/sell residential/commercial Property in Noida Extension. Search 1/2/3 BHK flats, property and commercial shops within Noida Extension as per your budget and location.

  6. "Social housing" is a government-subsidised rental accommodation solution for people who earn between R1,500
    and R7,500 a month and as a result fall into the "gap market" of housing. They earn too much to receive free
    housing but too little to meet the qualifying criteria of commercial banks and other housing bond institutions.


  7. Nice post.Thank you for taking the time to publish this information very useful.new projects in bangalore.

  8. People who wish to place their property for auction should inform the conveyance well ahead. this is able to facilitate them to arrange all the specified document, contact to Yantra homes

  9. That's Brilliant ideas for properties investment in Australia.Property Wealth Creation is so good.

  10. that's nice blog for properties investment in Australia.Property Wealth Creation is so good.

  11. I am an elected Committee Member of the Property Committee of the Association of Pretoria Attorneys and through my involvement, I like to ensure that I am constantly at the "sharp-end" of Conveyancing Practice.wealth creation planning services