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Overview of Housing Sector

Contact Details

The government of Ghana's retraction from the provision of residential home units came about as a result of government's inability to continue to directly provide for all sectors of the economy. This is one of the fall outs of the ERP/SAP guidelines as advised by the IMF/World Bank, to enable government concentrate on the core business of provision of enabling environment for the private sector to grow. Following these initiatives by the government, the Housing Sector Reforms was instituted. Under the Housing Sector Reforms, the following organizations have been and continue to be involved in the provision of housing in the country.

• Team Development Corporation (TDC).
• State Housing Company Limited (SHC).
• Development of Rural Housing (DRH).
• Public Servants Housing Loans Scheme Board (PSHLSB).
• Ghana Real Estate Developers Association (GREDA).
• Social Security & National Insurance Trust (SSNIT).
• Other Housing Construction Firms are: Tassel, Victor Morrison & Sons Ghana Limited, UTC Real Estates etc.

For Construction Services, the Architectural & Engineering Services Limited (AESL) is a practicing professional group of Consulting Civil, Structural, Electrical and Mechanical Engineers, Architects, Land and Quantity Surveyors.

The policies evolved over the period have culminated into:

• Increased investments by Social Security and National Insurance Trust (SSNIT) in housing (e.g. housing estates at Sakumono and Adenta in Greater Accra).

• The establishment of HOME FINANCE COMPANY (HFC) to provide mortgages to potential homeowners and pave the way for acquisition of properties.

• The founding of GHANA REAL ESTATE DEVELOPERS ASSOCIATION (GREDA) to promote private sector participation in the housing delivery.

The industry has experienced dramatic changes in the last decade due to the participation of private sector developers in the housing delivery system.

The real estate sector of Ghana experienced modest gains over the last two decades. The gains can be attributed to rapid population growth, urbanization, industrial growth and general improvement in the economic well being of Ghanaians.