Develop sustainable housing schemes - GREDA tells govt

The Executive Secretary of the Ghana Real Estate Developers Association (GREDA) Samuel Amegayibor, said government will have to develop a sustainable policy and not one-off projects like previous government had undertaken.

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This is according to housing developers in the country. The Executive Secretary of the Ghana Real Estate Developers Association (GREDA) Samuel Amegayibor, said government will have to develop a sustainable policy and not one-off projects like previous government had undertaken.

“Government has been sitting and implementing projects. One thing I will really want to caution the new government about is not to go into the habit of ‘execute and go’; we don’t need that for housing.”

He suggested that the new government establishes a proper housing scheme for a better housing system.

“I will encourage the incoming government to look at establishing a housing scheme; this has existed before. GREDA, the then Bank for Housing and Construction and the Social Security and National Insurance (SSNIT) worked together.”

“The arrangement was such that SSNIT, as a partner, acquired a lot of the land and provided services on the land; GREDA then took money from Bank for Housing and Construction at a very cheap rate, because it was like a fund, to build those houses.”

“HFC was also established around that time to provide a mortgage for the people. The people came to us the developers to buy and we were able to return whatever we borrowed from the Bank.”

Ghana currently has a 1.7million housing deficit but successive governments have failed to create, and implement a sustainable housing scheme to bridge the unit deficit and also to meet future demand.

It is estimated that the country’s housing deficit is growing by about 70,000 housing units per year.

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