The Ghana Real Estate Developers Association (GREDA) is calling for major changes in the sector to help address the housing deficit

Ghana’s growing housing shortage, now pegged at over two million units, is putting mounting pressure on the government to reconsider how the sector is managed and funded. According to the Ghana Real Estate Developers Association (GREDA), the challenges brought on by rapid urban expansion call for bold and immediate action, particularly as the administration launches its flagship 24-hour economy initiative.

GREDA president Dr. James Orleans-Lindsay said their review of the policy suggests it could create new opportunities for housing and construction, but only if backed by targeted reforms.

He highlighted the need to streamline permitting processes, increase access to land, and expand financing options through tools like real estate investment trusts.

GREDA emphasized the need for stronger infrastructure support and capacity-building efforts to raise industry standards. Speaking at the 2025 GREDA Awards and Dinner in Accra, Dr. Orleans-Lindsay described the 24-hour economy as a potential game-changer for the sector.

With firm government backing, he said, developers can scale up affordable housing delivery through public-private partnerships, strengthen essential services including water and sanitation, spur job creation across the construction chain and promote greener building practices.

“We continue to achieve significant successes, yet much more work remains,” he said. “Collaboratively, we can address persistent challenges such as land titling issues, high construction costs, heavy reliance on imported materials and limited access to affordable finance.”

GREDA, he noted, is ready to partner with government in advancing aspirations of the 24-hour economy policy.

“Working as a team, we can reset the housing industry to make Ghana a benchmark for sustainable development. We envision a country where every citizen has access to decent and affordable housing.”

He also urged developers to rise to the moment: “Let’s innovate, collaborate and deliver quality housing solutions”.

The 2025 GREDA Awards and Dinner was held under the theme ‘Resetting the housing agenda under the 24-hour economy: GREDA-Government collaboration’.

Presidential Advisor on the 24-hour Economy, Dr. Goosie Tanoh, likewise acknowledged that the lack of affordable, decent housing remains one of the country’s most pressing challenges.

He commended GREDA members for withstanding an increasingly difficult business environment marked by inconsistent policies over the years. Their continued collaboration since forming in 1994, he said, reflects resilience and foresight.

Dr. Tanoh warned that the deepening housing crisis is fuelling a wider set of social pressures. Each year, more than 200,000 young people arrive in cities seeking accommodation and work, while others are forced into overcrowded households or dwellings without basic facilities.

This, he stressed, undermines productivity across sectors. “We cannot expand production, run efficient services or support growing industries when workers cannot find decent and affordable homes near their jobs.”

He added that the shortage affects education as well, with inadequate accommodation in secondary and tertiary institutions undermining teaching and learning outcomes.

He argued that a long-lasting, affordable housing boom would ease societal pressures and help turn around years of negative trends. Dr. Tanoh called GREDA the “perfect partner” to make this happen within the 24-hour economy framework.

He said the programme aims to transform the housing industry by tapping into the entrepreneurship of self-organised groups like GREDA, housing cooperatives, and professional associations, rather than relying solely on public-sector policymaking.

Source: The High Street Business