Samuel Amegayibor, the executive secretary of the Ghana Real Estate Development Association (GREDA), pleaded with industry participants to construct sturdy homes in the nation at reasonable costs in April 2022.
He claims that certain prominent public officials and civil servants are unable to pay a $30,000 property off over the course of a ten-year mortgage.
“How can we promote the business if we don’t have a government that is willing to support local building materials?
We need to figure out a way to construct sturdy homes here affordably, according to Mr. Amegayibor.
Read the full story originally published on April 11, 2022 by www.ghanaweb.com.
Executive Secretary of Ghana Real Estate Development Association (GREDA), Samuel Amegayibor, has asked his sector players to find solutions on how to build strong houses at affordable rates in the country.
According to him, some senior public and civil servants cannot afford a $30,000 house over a ten years mortgage period.
He said unless these individuals have other sources of income before they can purchase the $30,000 house.
Mr Amegayibor also entreated government to force local contractors to make use of local building materials for their projects.
Speaking on 3FM’s Sunrise show, the GREEDA boss said, “If we don’t have a government that is willing to patronize local building materials then how can we develop the industry?… We need to find the solution to how we can build strong houses here, but cheaply.”
“A profiling of people who buy houses will show that even senior public and civil servants cannot afford a thirty thousand dollars ($30,000) house over a ten years mortgage period unless they have other streams of income,” he stated.
He however asked government to put measures in place to reduce the cost of building materials.
Mr Amegayibor noted that the prices of cement and iron rods have gone up by 27%.
This, he said, has made construction more expensive in Ghana.