Government To Reduce Cost Of Affordable Housing By 50 Percent With New Framework – Ghana Minister
Ghana’s housing deficit stands at 1.8 million units
New framework to reduce cost affordable housing units in Ghana
Government committed to addressing housing problems – Asenso-Boakye
Government through the Ministry of Works and Housing is working to develop a new framework that will see a reduction in the cost of affordable housing units in the country by 50 percent.
According to the sector minister, Francis Asenso-Boakye, the move will be facilitated under the framework currently being developed by the ministry and specifically meant for the Affordable Housing Project.
Speaking at a breakfast meeting organised by Ghana Real Estate Developers Association in Accra, the housing minister said, “We are looking at a situation where building a house can cost about US$20,000 and US$25,000 so that the majority of Ghanaians can afford instead of building at a cost of US$100,000 and over”.
He however admitted that “Given our current income levels as a country, it will be difficult. So, I urge all GREDA members to embrace this current framework of government to invest in the provision of affordable housing.”
The housing minister however hinted of moves to introduce tax incentives meant for investors seeking to venture into Ghana’s real estate space.
He added that this will complement efforts aimed at reducing Ghana’s housing deficit which is currently at about 1.8 million units.
Source: ghanaweb
