[ 2016-05-03 ]

Reducing housing gap requires government’s partnership – Estate developers
Private real estate developers have appealed for
government’s intervention in reducing the cost
of housing units to address Ghana’s growing
housing deficit.

According to them, the inaccessibility to quality
housing by majority of Ghanaians owing to the high
costs, continue to impact on efforts to bridge the
housing gap currently estimated at 1.7 million.

Some private real estate developers also tell Citi
Business News prices of houses could only be
reduced if government intervenes in the provision
of infrastructure to developing communities.

The Managing Director of UT Properties, Kojo
Kwakye Owusu intimates that it costs businesses
about twenty-five to thirty percent of the total
cost of houses to provide infrastructure such as
roads, utility and other essential services.

“Such infrastructure such as drains and roads
have to be made before the houses are built, we
would like to encourage the government through the
local government ministry to also make such
infrastructure investments in partnership with us
so then the focus is not too much on spending
money on the infrastructure but really investing
in the development of the housing stock which is
what is lacking in the country and by so doing we
will be able to reduce the price of the houses
somewhat on the market.”

Mr. Kwakye Owusu made the comments during a
housing clinic organized by the company as part of
efforts to assist clients and prospective home
buyers make informed decisions in acquiring
properties.

Source - citifmonline.com

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