# Ghana housing finance and affordability initiatives > Live situation record from CLSTR: https://clstr.news/situations/ghana-housing-finance-and-affordability-initiatives > Updated: 2026-10-22T15:01:22.000Z. Sources: 12. Developments: 5. In late September 2026, preparations were announced for a national conference on housing finance in Accra, Ghana. Organized by the National Homeownership Fund, the event aimed to address sector challenges such as rising construction costs, high mortgage rates, and limited long-term financing. During the conference on October 7, President John Dramani Mahama announced that the Ghanaian government would allocate GH¢1 billion in the 2027 national budget to a GH¢3 billion revolving fund to address a national housing deficit of approximately 1.8 million units. To improve affordability, the National Housing Fund (NHF) reduced its mortgage lending rate from 13.5% to 8.4%, while financing for property developers was lowered to 10.4%. Following the conference, the State Housing Corporation (SHC) unveiled a 195-unit estate at Amrahia near Accra, offering various bedroom configurations and allowing buyers to use pension fund savings as mortgage equity. The NHF also announced plans to begin constructing social housing in 2027, with preparatory work for project design and site selection currently underway. This includes a pilot District Housing Programme utilizing compressed earth bricks for cost-effective and climate-resilient construction. On October 22, Minister for Works and Housing Ahmed Ibrahim proposed the establishment of a National Housing Levy to provide a sustainable funding mechanism for state-led projects. Citing Kenya’s National Housing Levy as a model, Ibrahim suggested the levy could specifically target young people struggling with rent and homeownership, urging political cooperation to treat housing as a national development priority. ## Timeline ### 2026-10-22: Ghana Minister proposes National Housing Levy to address deficit Ghanaian Minister Ahmed Ibrahim has proposed a National Housing Levy to fund affordable housing and address a 1.8 million unit deficit, citing Kenya's successful funding model. 5 sources. https://clstr.news/cluster/ghana-minister-proposes-national-housing-levy-to-address-deficit ### 2026-10-12: Ghana addresses 1.8 million unit housing deficit with new developments Ghana faces a 1.8 million unit housing deficit. The State Housing Corporation has opened a new estate in Amrahia, while the National Housing Fund prepares to launch social housing projects by 2027. 3 sources. https://clstr.news/cluster/ghana-addresses-18-million-unit-housing-deficit-with-new-developments ### 2026-10-09: National Housing Fund adopts plan to tackle Ghana housing finance The National Housing Fund and Ghanaian stakeholders have adopted a resolution to expand affordable housing finance through innovative funding, private investment, and risk-sharing mechanisms. 5 sources. https://clstr.news/cluster/national-housing-fund-adopts-plan-to-tackle-ghana-housing-finance ### 2026-10-07: Ghana National Housing Fund receives GH¢1bn budget allocation Ghana's President Mahama has announced a GH¢1 billion budget allocation for a GH¢3 billion National Housing Fund and a mortgage rate cut from 13.5% to 8.4% to tackle the nation's 1.8 million unit housing gap. 8 sources. https://clstr.news/cluster/ghana-to-allocate-gh1bn-to-housing-revolving-fund ### 2026-09-30: Ghana housing finance conference to open in Accra on October 7 President John Dramani Mahama will open a national housing finance conference in Accra on October 7 to address affordability and funding constraints in Ghana’s housing sector. 2 sources. https://clstr.news/cluster/ghana-housing-finance-conference-to-open-in-accra-on-october-7 --- Cite as: Ghana housing finance and affordability initiatives. CLSTR, https://clstr.news/situations/ghana-housing-finance-and-affordability-initiatives