By MILDRED KATONGO –

THE National Pension Scheme Authority (NAPSA), is unable to sell its housing units in Kalulushi because of high prices, has now decided to rent them out.
NAPSA direct investments director David Chewe said NAPSA had partnered with Sherwood Green Real Estate Limited to advertise the houses for rent.
The decision by NAPSA management to rent out the housing units, situated on Kitwe-Kalulushi Road near Kamakonde area, comes after much dithering following complaints by members of the public over the pricing structure.
The houses, constructed at a cost of K274 million, were commissioned for sale in July last year by Labour and Social Security Minister Fackson Shamenda.
At the time of commissioning them, the low-cost houses were pegged at K450, 000 each, while medium-cost houses were to fetch between K612, 000 and K771, 000 each.
High-cost housing units ranged between K930, 000 and K975, 000.
The project, which started in 2010, has 438 housing units.
Despite being completed, the houses have remained unoccupied as potential buyers have asked NAPSA to consider reducing the prices.
The complex, which covers 35.9 hectares, comprises 19 low-cost, 360 medium-cost, and 59 high-cost houses. It also has semi-detached structures.
Mr Chewe said the institution was aware that the housing units had remained unoccupied because members of the public could not afford to buy them.
He, however, said despite the complaints raised, the institution would not consider reducing the prices because it should gain profits from the investment.
“You know when you invest, you need to gain a profit. If we reduce the prices of the houses then we lose out.
“We have started renting the houses out, and those interested can contact Sherwood Green Real Estate,” he said.
Mr Chewe said the rental charges would range from K2, 000 to K5, 000 per month, adding that they would vary according to the size of the houses.
He said the money spent on the housing units was a contribution from its members, therefore it would not be fair to lower the prices.