Known as the "missing middle", people in these income groups often struggle to own property because they are considered too poor for home loans by finance institutions, but too wealthy for free RDP houses.
Addressing 20,000 supporters at a manifesto launch held at the Rand Stadium, south of Johannesburg, DA leader Mmusi Maimane said the proposal would allow South Africans that had been excluded from the property market to own land and houses.
"It [ownership] allows you to borrow money against the property, it allows you to pass it on to your children in your will, and it allows you to sell it, if you so choose," said Maimane.
"I also want South Africans to have a choice, which is why we will introduce a housing voucher which people can either use to build their home or as a down-payment on a house.
"In the South Africa I want to build, you will find estate agents in Alexandra and Khayelitsha, and not just in Sandton and Constantia, because property will have value wherever you go," he added.
He said beneficiaries would be able to build their own homes on government serviced sites. The other option would be for beneficiaries to use the R150,000 as deposit to buy an already existing home. Beneficiaries could also use the money to buy land for the purpose of building a home or use the money to upgrade their homes, located on land they already owned.