Ghana announces national plan to tackle housing crisis and rising rents

Ghana is preparing to launch a national housing program aimed at increasing the supply of homes, facilitating property ownership, and reducing rising rent costs. President John Dramani Mahama announced the initiative to address the housing crisis, particularly affecting urban households. The plan is expected to be officially presented to Parliament by Finance Minister Dr. Cassiel Ato Forson during the 2027 budget presentation.

A key component of the strategy involves addressing the issue of excessive rent advances. While regulations cap these advances at six months, a shortage of available housing often leaves tenants with little negotiating power. The government intends to use a structural approach by increasing housing availability to rebalance market supply and demand.

In a separate critique of the current situation, Ahmed Ibrahim has questioned the slow pace of housing delivery in Ghana. Comparing the nation's progress to neighboring Ivory Coast, Ibrahim noted that while Ivory Coast is building approximately 50,000 houses, Ghana has struggled to reach 15,000. He emphasized that addressing the deficit requires stronger financial backing from the Finance Ministry and improved cooperation between government institutions.