Minister for Works and Housing, Hon Asenso Boakye, this morning in Accra has addressed the maiden edition
of the Business24Real Estate Conference themed “Affordable Housing for Every Ghanaian; A Myth or Possibility”.
He dwelled on the need for deeper collaboration between government and the private sector to create the
needed opportunities to enable the majority of citizens to have access to decent, safe, secure, quality, and affordable housing.
Against this backdrop, the government is working on a framework to absorb the cost of land and infrastructural
services for private developers in support of its Affordable Housing Programme. This, we believe, will be pivotal in addressing the supply-side constraints of the housing market he said.
On the demand side, Government has plans to scale up the National Housing and Mortgage Fund that was
piloted in 2020 to stimulate the demand-side of the housing market and create more access to affordable housing for low-to-middle income earners.
The sector minister hinted of government’s plan to consider how prospective homebuyers could leverage their Tier 2 and 3 Pensions fund to support their mortgages, especially the initial deposit.
Housing is an important instrument for economic development since it has the potential to boost employment
generation and it contributes to the manufacturing sector through the production of building materials and furnishing, as well as the provision of both construction and mortgage financing
