Ghana's housing deficit now 2 million units - Asenso-Boakye

Francis Asenso-Boakye, the Minister of Works and Housing, has said that Ghana's housing deficit now stands at two million units.

Francis Asenso Boakye, Minister of Housing

He said the housing deficit situation is at an alarming levels now and it will need a major intervention from government.

Speaking at a home ownership forum in Accra, Mr. Asenso-Boakye said it was currently estimated that 60 per cent of the country’s population would need some form of government assistance to help them to get access to housing, while 35 per cent would not be able to access housing even with government support in terms of subsidy.

Mr Asenso-Boakye said the government would set up a National Housing Authority (NHA) to lead the supply side of the housing market.

He said the NHA would not only serve as a regulator but would also plan, develop and manage housing development in the country.

He said the expectation was that the operations of the NHA would complement the activities of the newly-created National Housing and Mortgage Fund, which was to stimulate the demand side of the housing market to make housing accessible to the low-to-middle income earners.

“Ultimately, the objective for setting up the NHA is to decouple the planning, development and management of housing projects of the ministry from its core mandate of formulating, coordinating and monitoring the implementation of policies.

“Interventions in the past have been piecemeal, resulting in the country struggling with a housing deficit, currently in excess of two million housing units. Sadly, government-led housing projects suffer during the implementation stage, causing them to stall or be abandoned when there is a change in government,” he said.

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