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HousingMon, 27 Jun, 22

Owner Built System of Housing Procurement is Responsible For Numerous Uncompleted Structures in Ghana

Owner Built System of Housing Procurement is Responsible For Numerous Uncompleted Structures in Ghana

The act of people building houses for themselves is partially responsible for the many uncompleted structures in the country, according to Architect Esinam Tagboto, a Senior Policy Advisor for the Ghana Chamber of Construction Industry.

Because housing is a human right, she said in advanced countries they build for you with extremely low interest mortgages while you focus on your work.

She indicated that people abandoned building structures because of litigation problems and that is another good reason for more uncompleted structures springing up in the country.

Speaking on a Real Estate Market Show, the Senior Policy Advisor for the Ghana Chamber of Construction Industry, indicated that the mortgage systems available for homeowners in the country are not friendly, rather very hostile.

Architect Esinam Tagboto made these remarks after analysis from the Ghana Statistical Service from its Housing and Population Census data reported that about 20 percent of all housing units enumerated in Ghana were uncompleted.

She said it is almost impossible to own a home through the mortgage system because of the down payment banks require and the high interest rates that come with the mortgages. This, she said, is equivalent to the commercial rates.

She however believes that the road map developed by the government is a comprehensive approach to address these and multiple other issues associated with the basic human right to housing. 

“Ghana is trying to get back to the roots, a lot of policy reforms and legislative reforms have happened in the past and the very exciting thing is the rent to own policy which has been adopted by the government of Ghana,” she said.

She said decent housing will reduce slumming and congestion, offering citizens protection from disease, and other social vices. She added that housing must offer physical security, safety and financial security.

She believes addressing Ghana’s housing deficit is a project, primarily to tackle multifaceted social issues including overcrowding which impacts physical, mental, emotional, psychological and intellectual health.

 

Source: Abdul-Razak Mohammed (Real Estate Times Africa)

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