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Accra, March 16, GNA – Mr Sammy Amegayibor, the Executive Director of Ghana Real Estate Developers Association (GREDA), has urged government to expedite action on Ghana’s housing policy.
He said the real estate industry needed the policy to govern and ensure that players in the sector conform to standards.
Mr Amegayibor told the Ghana News Agency in Accra that stakeholders have been calling for a housing policy for the country for over a decade now.
He praised the government’s effort to see the policy passed into law to regulate the industry.
‘This government has shown some level of commitment and has moved the policy to a level it hasn’t got to before. We just hope that they will get it done and pass into law to guide the industry,’ he said.
He said apartments were steadily on the rise in the country, especially in the nation’s capital, with the ability to maximise land space while offering top-quality amenities, real estate developers have resorted to making more investments in such units.
He said with no laws in place to guide ownership, and little being done to regulate their construction, real estate developers have pressed the need to have appropriate laws in place.
‘Land ownership of apartments is a complex matter. Thus if nothing is done or laws are not enacted to regulate developers, we might find ourselves developing a whole lot of apartments in town and there will be complete chaos,’ he stressed.
Ms Akua Nyame-Mensah, the Managing Director, Lamudi Ghana said: ‘Apartments are increasingly becoming a preference for many property seekers.
‘For real estate developers, this would be the ideal investment since they can build more units per every plot of land,’ she added.
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