Ghana Property Expo Calls for Govt and Private Sector Alignment on Affordable Housing

Stakeholders at the Ghana Property & Lifestyle Expo are urging stronger partnerships between government and private developers to address the country’s housing affordability crisis, while maintaining construction quality.

Victoria Agyekum, Co-Founder of the Expo, emphasized that meaningful progress in the housing sector requires coordinated government policies and targeted incentives.

“The private sector must build, but government structures and incentives are essential. Tax incentives and support with land acquisition can reduce costs and make homes more affordable for locals,” she stated.

Now in its ninth year, the Expo has solidified its position as a pivotal forum for discussions surrounding affordability, sustainability, and smart urban living. This year’s event showcased innovations from developers, including solar energy solutions and eco-friendly building materials designed to lower long-term living expenses.

Madam Agyekum stressed that sustainable practices are no longer a luxury, but a necessity. “Developers are working with solar and eco-friendly products, using our natural resources efficiently, while also exploring affordability without cutting corners on quality,” she noted.

Addressing financing challenges, Edith Akaho-Tay, Head of Sales at Jacob West, revealed ongoing talks with banks to provide financing for off-plan properties during the construction phase, alleviating the burden of substantial upfront payments.

“Most people can’t afford $150,000 cash. If banks can finance off-plan projects before completion, home ownership becomes more realistic,” she explained.

Fidelity Bank is already taking a lead role, offering long-term mortgages of up to 20 years, alongside escrow services to safeguard buyers and title perfection processes to minimize fraud.

Abdul Razak Gyimah, Mortgage Manager at Fidelity Bank, highlighted the importance of comprehensive due diligence. “Due diligence and proper title documentation are critical. Location, flood risk, and proximity to work and schools also matter for long-term value,” he said.

Developers such as Empire Domus and Dustin Properties exhibited gated communities with flexible payment options, smart-home technology, and potential rental yields reaching as high as 12%, showcasing real estate as both an attractive lifestyle choice and a viable investment.

The role of lifestyle branding in property value was also underscored. Phillia Bumagat of Bathroom and Bedroom Emporium GH Ltd explained that modern finishes and high-quality interior solutions are increasingly important for premium developments.

“Lifestyle branding makes it easier for homeowners to complete their homes with quality and luxury, increasing overall property value,” she said.

As Ghana’s urban areas continue to expand, the Expo remains a vital meeting point for policy discussions, financial innovation, and collaborative solutions, reinforcing the need for a structured approach to delivering affordable and sustainable housing for Ghanaians and investors alike.

Image Source: MYJOYONLINE