BHC�s sitting tenants campaign misses target

Goitsemodimo Kaelo | Tuesday May 24, 2016 10:50

Speaking at the final draw of the campaign’s competition held in Gaborone recently, chief executive, Reginald Motswaiso said they realised P88 million from selling the houses in both urban and peri-urban areas.

BHC sold 144 units in the first year of the campaign from a target of 212 with the corporation selling 131 units from a target of 141 properties.

Motswaiso said the uptake of the properties reflects the favourable inflation as the prime rate reaching an all time low of 7.5 percent in 2015.  He said this has lowered the cost of borrowing and allowed customers to purchase houses of their choices from BHC through the Sitting Tenants Campaign through the help of commercial banks.

Motswaiso said the role BHC plays in the economy could not be overemphasised as it contributes immensely to the real estate sector growth.  He said the property sector continues to grow despite challenging economic times.  He, however, moaned the low rate at which property loans are increasing.

Motswaiso challenged BHC tenants to take advantage of lower interest rates offered by banks during the campaign to buy leased houses.  He also said that the Public Private Partnership (PPP) is key in the development of the property sector. 

Whilst the curtain on the BHC sitting tenant campaign is closing, Motswaiso announced that they are reintroducing the Tenant Purchase Scheme in July to encourage more tenants to purchase houses.

“The details of the scheme will be announced shortly after all systems have been put in place,” he said.