NO IMMEDIATE RESALE OF NHC UNITS

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Minister of Housing and Lands, Michael Lashley

The National Housing Corporation (NHC) today advised tenants who have had ownership of units conveyed to them, and those eligible for such, not to sell these houses under 10 years.

According to the NHC, that’s the word from Minister of Housing and Lands, Michael Lashley. “There should be a 10-year restriction on the units; that is, any attempt to sell a unit during this period will cause the ownership of the unit to be reverted to the Corporation,” said Mr. Lashley.

“This is an effort to stop the profiteering which would result if you … take that unit and sell it for $100,000.00 or even $50,000.00. There is a reason for this, and that is, since we have just transferred the unit to you it is only reasonable that you keep it for about 10 years,” he added. Mr. Lashley disclosed that, to date, $5,000,000 has been allocated to the NHC for the maintenance of the units.

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