Housing sector

The government wants to work with the private sector to improve the housing sector

play the videoMinister of Public Works and Housing, Francis Asenso-Boakye

Government offers tax incentives to private developers

Housing deficit reduced from 2 million to 1.8 million units

The urban population of Ghana is 57% of the total population, Asenso-Boakye

The Minister of Public Works and Housing, Francis Asenso-Boakye, noted that the government is working with the private sector to create an enabling environment for the modernization of the housing sector.

Speaking at the grand opening of Knightsbridge luxury affordable housing by Rehoboth Properties Limited, the minister praised the company for helping to address the housing deficit currently facing the country.

According to the Minister, “Rehoboth Knightsbridge is the largest affordable luxury accommodation from a private developer in Ghana and Africa”.

“So it is without a doubt that the housing industry, as in many countries, holds the key to our development and I am encouraged by the role Rehoboth is playing in meeting these enormous challenges. As a government, we will continue to work together to create an enabling environment for the housing sector to thrive.

He lamented the housing deficit in the country as a difficult problem for the country.

“Currently, the urban population of Ghana is 57% of the total population with an urbanization rate of 5.8% since 2010. As a result, housing has become one of the critical development issues facing us as which country.

According to statistics from the 2021 Population and Housing Census report, although the sector has shown positive growth progress in the medium term, the estimated level of the housing deficit has fallen from more than 2 million to 1.8 million. of housing units.

He said, however, that the government was offering incentives to developers to reduce construction costs.

“The housing system, however, has failed to meet the needs of the low to middle income group in our country. In addition, the census report on dwelling characteristics revealed that approximately 12.7% of the total housing structures surveyed were vacant dwellings.

“In addition to free land and infrastructure services for these sites, the government provides tax incentives to participating developers with the aim of significantly reducing the cost of construction, thus making the houses truly affordable. I therefore charge all private developers , especially members of GREDA, to collaborate with the government in this course, added Asenso-Boakye.