• Live Radio
  • Videos
  • About
  • Contact
  • Despite Media
Ghana Election 2020
  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • VIDEOS
  • Media
    • Videos
    • Audio
    • Live Radio
    • Photos
  • Election 2020
Local News
 
 
 
Home News General News 202110

Gov't To Absorb Cost Of Land And Infrastructure To Boost Affordable Housing Programme

19-Oct-2021
/ General News, News
Email
Print
Comments 0
(0)
Comments
Share on Facebook Share on Twitter
 

The Minister for Works and Housing, Francis Asenso-Boakye (MP) has revealed that Government is working on a framework that will absorb the cost of land and infrastructural services, which are key components in the provision of decent, secured quality and affordable accommodation for private developers in support of its affordable housing program.

This, the Minister believes, will be pivotal in addressing the supply-side constraints of the housing market.

Speaking at the 2021 Business 24 Real Estate Conference today in Accra, the Minister said the Works and Housing Ministry has since identified each the cost drivers that contribute to the cost of an affordable housing unit and has subsequently mapped out specific strategies with the sole objective of making housing affordable for the large section of the Ghanaian population.

The UN-Habitat study reveals that families who pay more than 30 percent of their income for housing are considered cost burdened and may have difficulty affording necessities such as food, clothing, transportation, and medical care.

The Minister explained that for housing to be deemed as affordable, housing cost should not exceed 30% of a household’s income be it for purchase, mortgage, rental or rent-to-own.

With high price of most commercial housing units being attributed to cost of building materials which are mainly imported, the Minister urged industry players to embrace the use of local building materials. He envisaged that developers who wish to partner Government in its Affordable Housing drive will need to incorporate the use of local materials in the construction of any Affordable Housing Projects.

Such initiative, he noted, will go a long way to reduce building cost and ensure the provision of affordable accommodation while boosting the local economy.

The Minister further appealed to stakeholders in the housing sector to embrace government’s instituted affordable housing framework and partner with banks and other financial institutions to invest more to wipe out the prevalent housing deficit, adding that “it is only through this that we can reach out to majority of our citizens and positively affect the lives of the larger population”.

The maiden edition of the Real Estate Conference brought together key industry players, professionals, and experts to engage in discussions that seek to match the various challenges of affordable housing development to workable solutions
 

Source: Peacefmonline.com/ghana

 

 
 

 

Comments ( 0 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video
Previous Post

Liberia President Rewards 18-year-old Who Returned Lost $50,000

Next Post

Government To Consider The Use Of Pension Funds To Support Mortgage Plans - Asenso Boakye

 
 

More Stories

Galamsey Report: Koda Slaps Frimpong-Boateng With GH¢5m Defamation Suit
If 'Nogokpo' Is Powerful, Let It Show Us!...Why Fast And Pray? - Osofo Kyiri Abosom 'Blasts' Agyinasare
Northern Region Remains Safe, Open For Oil & Gas Business - REGSEC Assures GNPC
Declaring Fasting for Your Church Members Over Nogokpo Is Very 'Useless' - Kyiri Abosom 'Slaps' Bishop Agyinasare
Ghana And Denmark Strengthen Bilateral Cooperation For Sustainable Development
Japanese Pay $55 Per Hour To Learn Smiling
A Bridge Under Construction In India Has Collapsed - For The Second Time
Minority Supports Gertrude Torkornoo As Next Chief Justice – Joe Wise Confirms Consensus Position
Some Mahama-Era Power Contracts Were Expensive But NPP Extended Them - Franklin Cudjoe
Next Post

Government To Consider The Use Of Pension Funds To Support Mortgage Plans - Asenso Boakye

  Local News

  • General News
  • Social
  • Health
  • Education
  • Religion
  • Technology
  • Crime & Justice
  • Travel/Tourism
  • Science/Environment


 
 

 

Other General News Stories

  • Galamsey Report: Koda Slaps Frimpong-Boateng With GH¢5m Defamation Suit

  • If 'Nogokpo' Is Powerful, Let It Show Us!...Why Fast And Pray? - Osofo Kyiri Abosom 'Blasts' Agyinasare

  • Northern Region Remains Safe, Open For Oil & Gas Business - REGSEC Assures GNPC

  • Declaring Fasting for Your Church Members Over Nogokpo Is Very 'Useless' - Kyiri Abosom 'Slaps' Bishop Agyinasare

  • Ghana And Denmark Strengthen Bilateral Cooperation For Sustainable Development

  • Japanese Pay $55 Per Hour To Learn Smiling

  • A Bridge Under Construction In India Has Collapsed - For The Second Time

  • Minority Supports Gertrude Torkornoo As Next Chief Justice – Joe Wise Confirms Consensus Position

  • Some Mahama-Era Power Contracts Were Expensive But NPP Extended Them - Franklin Cudjoe

  • I’m Still A Christian; National Cathedral 'Fight' Part Of My Parliamentary Duty – Ablakwa Reiterates

 

 
 

Popular Videos

Akan News @ Midday On Peace 104.3 FM (03/06/2023)

Peace Power Sports (05/06/2023)

Kokrokoo Discussion Segment On Peace 104.3 FM (05/06/2023)

HELLO POWER SPORTS (03/04/2024)

Entertainment Review On Peace 104.3 FM (03/06/2023)

Entertainment Review On Peace 104.3 FM (03/06/2023)

Peace FM Online and Despite Media

peacefmonline.com offers its reading audience with a comprehensive online source for up-to-the-minute news about politics, business, entertainment and other issues in Ghana

Follow us on social media:

Category

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • Trivia
  • Foreign
  • Audio
  • Photos
  • Videos
  • Elections
Decision Time
Ghana Election 2020 2016 Elections
Services
Live Radio Audio on Demand Ghana Elections Advertise with Us
Useful Links
Despite Media About Us Contact Us Feedback Form Terms and Conditions Privacy
Our Brands
Despite Media UTV Peace FM Okay FM Hello FM Neat FM Peacefmonline
  • About
  • Advertise
  • Terms & Conditions
  • Contact
  • Privacy

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Articles
  • Trivia
  • Foreign
  • Live Radio
  • Photos
  • Videos
  • Audio
  • Election 2020

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media