The Chartered Institute of Realtors (CIR) and the Chamber of Real Estate (CRE) proudly announce a groundbreaking collaboration aimed at championing comprehensive public and social housing initiatives across Ghana. This strategic partnership aims to tackle the nation’s pressing housing challenges head-on by bringing together key stakeholders, including real estate developers, traditional leaders, and community representatives.
In pursuit of this goal, with a shared commitment to fostering sustainable housing solutions, the institute and chamber are poised to make a transformative impact on Ghana’s socio-economic landscape. By leveraging collective expertise and resources, the partnership seeks to create an inclusive housing environment that meets the diverse needs of Ghanaian citizens. Highlighting the urgency of the housing crisis, the collaboration will focus on initiatives designed to reduce Ghana’s housing deficit. According to recent statistics, the National Affordable Housing Program, launched under the banner “My Home, My Peace” in August 2023, targets a 33% reduction in the housing deficit from 2.8 million units in 2010 to 1.8 million units. This ambitious goal underscores the gravity of the situation and the need for immediate, effective action.
Consequently, the repercussions of Ghana’s housing deficit have precipitated severe social and economic challenges, including overcrowded living conditions, increased crime rates, high unemployment, increased poverty, adverse health issues, sluggish economic growth, homelessness, teenage pregnancy, and vulnerabilities to natural disasters, particularly affecting the rural communities. The situation has aggravated to become a humanitarian crisis and a matter of national security. To combat these issues, CIR and CRE will engage traditional leaders, governmental authorities, clans, and communities in a collaborative approach to housing development. This effort will be guided by Ghana’s Real Estate Act of 2020, which provides regulatory frameworks for the housing industry, real estate agencies, and commercial transactions involving land.
Meanwhile, CIR and CRE are steadfast in their commitment to advancing housing solutions that empower communities and enhance quality of life. Through strategic partnerships and innovative approaches, they aim to catalyze positive change and build a brighter future for all Ghanaians. Recognizing that Ghana’s housing deficit is exacerbated by rapid urbanization, lack of continuity due to changes in government, high cost of land and building materials, inadequate mortgage financing institutions, defective land tenure systems, and population growth, which underscores the critical need for sustainable housing solutions.
Ultimately, through strategic planning and concerted efforts, this collaboration marks a significant step towards addressing Ghana’s housing crises and sets the stage for a brighter and more equitable future. The CIR and CRE look forward to working together with all stakeholders to achieve these ambitious goals to improve living conditions for all Ghanaians, contributing to national development and stability. As Ghana navigates the complexities of urbanization and housing demand, this advocacy charge will help steer the course of development. Franklin D. Roosevelt wisely said, “The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little”.