Tag: housing deficit
-
GREDA blames housing deficit on lack of social housing arrangement by government
The Ghana Real Estate Developers Association (GREDA) says governments have done little to address the growing housing deficit in Ghana. It contends that adequate steps have not been taken by the appropriate authorities to resolve challenges associated with accommodation in the country. Ghana’s housing deficit remains the same, as against the increasing population of the…
-
60% of Ghanaians need government support to own houses – Asenso-Boakye
The Works and Housing Minister, Francis Asenso-Boakye has decried the country’s perennial housing problem. According to him, over 60 percent of the Ghanaian populace is unable to own their own homes without support from government. Also, 35 percent of the populace sadly will never be able to own their own homes even with the support…
-
GREDA pushes for law to regulate ownership of compound houses
Stakeholders in Ghana’s real estate sector are asking for a law to regulate the ownership of condominiums, popularly known as compound houses in the country. Currently, there are no dedicated laws governing the possession of both residential and non-residential condominiums in Ghana. As part of efforts to address challenges in the real estate sector, the…
-
Ghana faces huge housing deficit; invest in the sector – Lecturer urges investors
Dr. Frank Gyamfi-Yeboah, a Senior Lecturer at the Department of Land Economy at the Kwame Nkrumah University of Science and Technology (KNUST), has told Ghanaian investors in the diaspora that Ghana is currently facing extreme housing deficit, hence the need for them to invest in the sector and make gains. He explained that this is…
-
Gov’t must speed up implementation of land bank concept – GREDA
President of the Ghana Real Estate Developers’ Association (GREDA), Patrick Ebo Bonful, has called on government to expedite action on the implementation of the proposed land bank policy to mitigate land challenges in the country. A land bank is a governmental or nongovernmental nonprofit entity established, at least in part, to assemble, temporarily manage, and…
-
Republic Bank optimistic about govt’s new mortgage financing plan
Banks which have been selected to undertake the government’s National Housing and Mortgage Finance initiative say they are expectant of the prospects of the program in bridging Ghana’s housing gap. One of such banks, Republic Bank, believes its competitive rates should help to ease the burden of prospective homeowners. The Finance Minister Ken Ofori-Atta in…
-
Ghana could bridge housing deficit in 7 years with latest housing tecnology– Atta Akyea
The Minister of Works and Housing Samuel Atta Akyea has said the deployment of cheap but efficient technology in building houses could see the country narrow its housing deficit in the next seven years. The use of Clever House Technology is able to reduce construction time by 80 percent as well as the cost of…
-
Government abandons Housing & Construction Bank plans
Government has ditched the idea of establishing a Housing Bank which was aimed at reducing the high cost of mortgage in the country. Works and Housing Minister, Samuel Atta Akyea who disclosed this to Citi Business News however says the new plan is to allow the existing banks access to relatively cheaper funds to offer…
-
Estate developers demand clarity on new tax holiday
The Ghana Real Estate Developers Association (GREDA) wants government to come clear on its new terms in granting tax holidays to new estate developers. Although GREDA describes the news as welcoming, it says its members need further clarification on how the tax holiday will be of benefit to the industry. “It is welcoming except that we want to…
-
Housing deficit rises as money launderers quit purchases
Ghana’s strict adherence to anti-money laundering laws has partly contributed to the rise in the country’s housing deficit. This is the indication from the Ghana Real Estate Developers’ Association (GREDA). The Association has therefore advocated pragmatic mechanisms to allow prospective home owners do so. A Council Member of GREDA, Samuel Tenkorang who made the revelation…