NAPSA receives 600 applicants for the Northgate Gardens rent-to-own scheme

National Pension Scheme authority (NAPSA) has received 600 applicants for the 311 Northgate Gaderns houses under the rent-to-own scheme, managing director Yollard Kachinga said.

Kachinga said NAPSA is currently assessing the applicants to see if they qualify to own a house and the process will take three months to complete.

“So far, the process looks very promising and we have managed to offload all the houses, the response has been overwhelming,” he said.

Once the process is done, NAPSA will indicate how many houses will have been bought, and how many would still be available, said Kachinga.

The rent-to-own housing scheme of the 311 houses came after a directive from minister of labour and social security Joyce Simukoko last year.

The initiative is aimed at empowering Zambians, as well as reducing the housing deficit, which stands at 1.5 million and might increase to 3 million by 20130.

This is a measure aimed at empowering interested and eligible buyers to purchase the housing units,

In 2017, government launched an USD$80 million private sector driven rent-to-own housing scheme, which will benefit 20,000 civil servants and parastatal employees.

The self-contained three bedrooms houses, which cost K575, 000 each, are being offered to members of the public either through a flexible payment plan of up to three months or the mortgage facility that has been arranged by NAPSA and Zambia National Building Society.

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