35% of Ghanaians will never own homes – Housing Minister

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The Works and Housing Minister, Francis Asenso-Boakye has said that an estimated 35 percent of Ghanaians will “never” be able to own their own homes even with the support of the government.

He also said over 60 percent of the Ghanaians will also not be able to own homes without government support.

The minister made these assertions during the launch of the maiden edition of Glitz Africa’s Home Ownership Series in Accra.

He noted that the growing housing market that is expected to supply homes for Ghanaians is saddled with a lot of challenges that eventually make home ownership very complex and an expensive venture for most of our citizens.
According to him, the causes of the complexities are not far-fetched and can be attributed to the country’s unpreparedness over the last few decades to weed the challenges that urbanization and population growth presented, which has ballooned the housing deficit.

“Currently, it is estimated that 60 percent of Ghanaians will need some form of government assistance to support them to get access to housing while 35 percent will not be able to access housing even with government support,” the minister said.

Mr. Asenso-Boakye however believes the setting up of the National Housing Authority will “lead the supply side of the housing market”, adding that the Authority will “not only serve as a regulator in the sector, but will also plan, develop, and manage housing development in Ghana, especially affordable housing”.

The provision of affordable housing for most Ghanaians still remains a puzzle successive governments have been struggling to solve.

Ghana’s housing deficit now exceeds two million despite an annual supply of 40,000 housing units.

Demand for housing units is pegged at about 70,000 units annually.

Among other factors, this situation is attributed to high population growth and rural-urban migration.

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