On Tuesday, 27 June 2023, Western Cape Minister of Infrastructure, Tertuis Simmers, will deliver keys to first-time homebuyers in the Mill Park Development in Bredasdorp. This first-of-its-kind project offers applicants the option to either purchase their first home using a subsidy, or exercise a rent-to-buy option, to acquire their first homes.
Residents earning a gross monthly income of R3,500 – R22,000, and who qualify for a Help Me Buy a Home subsidy, receive financial assistance that serves to reduce their monthly bond installment, making it more affordable to acquire their first home. Residents opting for the rent-to-buy option will rent their future home for a period of 6 to 24 months, after which applicants will be assisted with their mortgage bond application and a Help Me Buy a Home subsidy.
The Mill Park Development is envisaged to create 106 affordable housing opportunities for residents of Bredasdorp and the broader Cape Agulhas municipal area. This event follows the launch of the R55million budgeted project during 2022. The Western Cape Department of Infrastructure is excited to celebrate with the first few residents who will be receiving the keys to their new homes.
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