[ 2021-03-15 ]

Estate developers laud government’s decision to aid rent advance payments
The Ghana Real Estate Developers Association
(GREDA), has lauded government’s decision to
institute a National Rental Assistance Scheme to
aid rent advance payments in the country.

According to him, the Scheme will go a long way to
affect turnover in the housing sector by
stimulating demand for rent-to-own housing schemes
and by extension help the sector to grow.

Caretaker Minister for Finance, Osei
Kyei-Mensah-Bonsu, while delivering the 2021
budget on Friday said the scheme will begin with
seed money of GHS100 million.

“The scheme will crowd-in additional investment
from the private sector to provide low-interest
loans to eligible Ghanaians to enable them pay
rent advance.”

“And also enhance further the quality of life of
Ghanaians, to support domestic entrepreneurs and
businesses, and to deepen access to public
services,” Mr. Kyei-Mensah-Bonsu added.

Speaking to Citi News, Mr. Patrick Ebo Bonful, the
president of the association said the move will
also help curb the myriad of problems facing the
country’s housing sector.

According to him, this will also help create more
employment for Ghanaians.

“This will enable more people to patronize rent
own schemes which are being offered by companies
in our sector to the general public and by so
doing it will help us to solve the housing deficit
challenges.”

“It will also help us to be able to build more
house and generate more employment and more income
to stimulate growth to solve the myriad of
problems in housing and rental issues.”

Source - Citinewsroom

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