Mar 30, 2011 at 6:44am
Ghana’s housing deficit likely to double-Data
A public data on shelter has indicated that Ghana’s housing deficit stands at one million units per household and there is the likelihood that the figure will double within the next decade.
The Executive Director of HFC Bank, Akwete Akita, who made this known in Accra expressed dissatisfaction that though high demand for housing exists in the country, it lags behind in addressing the challenge.
Mr. Akita mentioned low income levels of the working population, land tenure system and relative high cost of building materials as the bane to home ownership for many.
He however, said the current stable macro-economic environment has resulted in favourable interest rates and a number of major housing projects in both the public and private sectors which have enhanced the opportunity for income-earning Ghanaians to own a house.