Affordable housing

Housing sector unable to meet requirements: NRI

This is according to a recently published Issues Paper by the National Research Institute (NRI).

The report reveals that housing prices are generally high and many people may find it difficult to meet the requirements to access the First Home Owners Scheme (FHOS), especially the initial 10 percent housing loan amount as well as the 4 percent interest rate on the loan.

Furthermore, there are few economic incentives to attract private developers to provide affordable housing and a shortage of secure land for development, which increases housing costs.