Housing is one of the very important fundamental rights every human being is entitled to for survival and existence. It is an investment that can elevate millions from poverty and boost the economy of countries.
According to a USAID report, a developing city with a good infrastructural base that does well to support urbanization will have a positive impact on the economic growth of a country. In the same vein, a country without good infrastructure is bound to face serious problems
In developed and some developing economies, governments have recognized the socio-economic importance of housing. They have created an enabling environment for acquisition of land and increase in low cost housing to support home ownership.
A developing country like Ghana is facing serious urbanization issues due to the migration of rural folks to major cities in search of better living conditions and greener pastures. The city of Accra is fast growing past its boundaries and the demand on basic infrastructure continues to rise. This demand on infrastructure has resulted in the emergence of several Real Estate Developers to assist governments to make affordable homes a reality for its citizens.
A study conducted by the Ghana Real Estate Developers Association (GREDA) and the Government of Ghana in 2002 estimated that the government should be able to provide between 110,000 to 140,000 housing units every year to afford every citizen their fundamental right.
Mr. Daniel Afari Boateng, CEO of Supreme Genesis Investments Limited reiterated the need for affordable housing for Ghanaians, stating that it is “a moral and economic imperative”. He said that adequate, secure and affordable housing will aid in decongesting our major cities since citizens now understand the essence of infrastructural developments in the sub urban areas also. He said there is the need for a systematic programme to provide affordable housing for all the ten regions of the nation to help solve our housing problem in Ghana.
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