The Minister For Works And Housing, Francis Asenso-Boakye says Ghana’s housing deficit is currently estimated at 1.8 million housing units.
According to him, the housing market, expected to supply homes for Ghanaians, has over the years, been saddled with a lot of challenges.
He stated that home ownership has become rather complex and also, an expensive venture for many of our people.
“The causes of these complexities are not farfetched and can be attributed to rapid urbanization, population growth, among others. Despite interventions in the past by stakeholders, the country is facing a housing deficit, currently estimated at 1.8 million housing units.”
He made the disclosure at the real estate experience – housing fair jointly organised by Graphic Communication Group and the Ghana Real Estate Developers Association in Accra.
To address this situation, the Minister For Works And Housing indicated that there is the need for a concerted effort for industry players, individuals and institutions to collaborate in finding solutions to the complexities of home ownership
In his view, government recognizes this huge challenge and has pledged to critically look at the general institutional architecture that drives the housing sector.
“Currently, there is a Ghana Housing Authority Bill that is ready to be sent to Cabinet and subsequently to Parliament for consideration and approval. The Ghana Housing Authority (GHA) when established will lead the supply side of the housing market. The Authority, will not only serve as a regulator in the sector, but also plan, develop and manage public housing in Ghana.”
The expectation is that the operations of the GHA will help complement the operations of the newly created Home Ownership Fund which is 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 GHA is to decouple the planning, development and management of public housing of the Ministry from its core mandate of formulating, coordinating and monitoring the implementation of housing policies.
This Mr. Boakye said will streamline the transition from policy formulation, coordination and monitoring through to the successful implementation of government led housing programmes.
Source mypublisher24.com
