Ghana is currently facing a housing conundrum
•Government has announced plans to establish a National Housing Authority
•The Authority is expected to focus on the supply side of the housing market
•Ghana is currently facing a housing conundrum with an increasing deficit at around 2 million units
A deputy minister of Works and Housing, Abdulai Abanga has disclosed his outfit has commenced steps toward setting up a National Housing Authority.
The authority, the minister explains will primarily focus on the supply side of the housing market which is currently in deficit figures.
Making the disclosure at the launch of a Housing Fair organised by the Graphic Communications Group, Abdulai Abanga said the authority is necessary to address challenges in the housing sector with an aim of providing mass subsidized housing for 60 percent of the Ghanaian populace in a short to medium term structure.
“For this reason, processes have begun to set up a National Housing Authority (NHA) to lead the supply-side of the housing market. The National Housing Authority will not only serve as a regulator in the sector but also plan, develop, and manage housing development in Ghana. As a Ministry, we have resolved to lead the process to engage key stakeholders within the sector to set up the NHA and also find ingenious ways of creating the enabling environment, especially for the private sector.”
“It is evident that the legislative and institutional framework of every sector plays a key role in establishing the platform for good practices. The current institutional framework governing the housing sector is fragmented and inconsistently funded.”
“This government recognizes this huge challenge and has pledged to critically look at the general institutional architecture that drives the housing sector,” he added.
Already, Ghana’s housing deficit currently stands at around 2 million units with real estate prices also shooting above the roof and some even quoted in foreign currency.
This means Ghana would not be close to bridging its housing deficit if various projects are not completed and delivered for occupancy it provides core security to families, societies, and communities while promoting sustainable health and livelihood.
Works and Housing Minister, Francis Asenso Boakye has estimated that 60 percent of the Ghanaian populace will require government assistance to gain access to decent housing.
While the figure is rather worrying, the minister said on the other hand, 35 percent, will not be able to gain access to decent housing even with the support from government and subsidies.