GREDA President Urges Rapid Interest‑Rate Reduction
Dr. James Orleans Lindsay, president of the Ghana Real Estate Developers Association (GREDA), urged a swift and substantial cut in interest rates, saying the move is essential to stabilise the housing sector and spur broader economic growth. He made the appeal during his address at the 2025 GREDA Awards and Dinner Night.
Speaking to developers, investors and government officials, Dr. Lindsay described the prevailing high‑interest‑rate environment as one of the most pressing obstacles facing both developers and prospective homeowners. He noted that soaring borrowing costs have driven construction expenses up and pushed mortgage repayments beyond the reach of many Ghanaians.
“Our sector cannot unlock its full potential until interest rates are brought down to realistic levels,” he said. “We need urgent, decisive action, not gradual adjustments. A rapid reduction will not only support developers but also empower ordinary citizens who dream of owning a home.”
The association president added that a more favourable financial climate would attract fresh investment, bolster local construction firms and help close Ghana’s widening housing deficit. He warned that delays in adjusting rates could further stifle growth and hamper ongoing affordable‑housing initiatives.
The 2025 GREDA Awards and Dinner Night celebrated excellence within the real‑estate industry, honouring companies and individuals who have demonstrated innovation, quality and leadership. Yet, Dr. Lindsay reminded attendees that developers continue to operate under challenging economic conditions despite these achievements.
He concluded by calling on policymakers, financial institutions and industry stakeholders to work together on solutions that prioritise long‑term sustainability and affordability. “Reducing interest rates swiftly is not just an economic decision,” he added. “It is a social necessity that aligns with our national development goals.”
The ceremony brought together top developers, investors, government representatives and industry professionals, all of whom echoed the need for supportive policies to drive growth in Ghana’s real‑estate landscape.
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