Aspiring homeowners can’t qualify for low-cost lots

Aspiring homeowners can’t qualify for low-cost lots
Minister of the Environment and Housing Romauld Ferreira. (FILE PHOTO)

Government’s highly touted housing programme is being under utilised, as 51 out of  60 applicants have simply failed to qualify, according to housing minister Romauld Ferreira.

“So far, we have received about 60 applications, regrettably only about nine of them qualify,” said Ferreira.

Ferreira made the revelation outside Cabinet office Tuesday.

The housing minister said that despite the growing demand for housing and a steady flow of applications, those who apply have been unable to meet the eligibility requirements.

Prime Minister Dr. Hubert Minnis launched the aggressive housing scheme earlier this year, in which he announced that lots would be sold for as low as $30,000.

Those who are approved, he said, would then have to construct their homes in a specified time frame and said they would receive concessions for material used in construction.

In light of the roadblocks that led to only nine applicants being able to qualify, Ferriera urged aspiring homeowners to clean up their financial status to be able to take advantage of the program.

“We say to Bahamians, this is one of those once in a lifetime opportunity so we urge you to get your financial house in order so that you can take advantage of this,” he said

“Never before, in the history of country, has land been made available at these kinds of prices.”

So far, government has rolled out three low-cost lot subdivisions in New Providence, with plans for expansion in the Family Islands.

“We will roll out three in New Providence; the Sunshine Close extension is already underway. The engineering drawings and works will commence for the Lionel Davis Subdivision in Romer Street in Fox Hill,” noted Ferreira.

“We are also finalizing the design phase of the Carmichael Village subdivision and hope to begin construction there soon.”