More investors show interest in housing sector

July 8, 2008
THE government has received good signals from a number of investors to help in putting up houses for low, middle and high income groups.
In addition, the government would also look at the area of providing accommodation for some identified vulnerable persons using local materials and workforce from the communities.
The Deputy Minister of Water Resources, Works and Housing, Dr Hanna Louisa Bisiw told the Daily Graphic in Accra that the affordable housing project initiated by the previous administration would also be continued till all the houses which were currently at different levels of completion were finished, in order to reduce the country’s housing deficit.
She pointed out that the government’s decision to use local materials and personnel was to have the job done at a lesser cost, as well as create jobs for the people.
She stressed that contractors who would get the opportunity to work on the project would be expected to do a good job and also finish on time, adding that none would have the chance of collecting money but fail to do the work as had been the case in the past.
Dr Bisiw said apart from putting up new structures, the government would also provide loans for individuals whose houses were in bad condition to repair them.
She complained about the situation where Ghanaians refused to use local materials that were cheaper and conducive to the Ghanaian environment but rather preferred to go in for foreign ones, which were expensive.
Statistics from the Ministry of Works, Housing and Water Resources indicate that there is insufficient housing stock to meet the ever-increasing demand for housing in the country, especially in the urban areas.
Recent estimates indicate that there is a shortage of 400,000 units of houses nationwide.