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MP for Korle Klottey Constituency Advocates for Protection of Arable Lands from Real Estate Development
Ghana’s Housing Minister Discusses Expansion of National Homeownership Fund with Local Banks
Foreign investment in Portuguese real estate declined in early 2024.
To our first story
Ghana’s Housing Minister, Kojo Oppong Nkrumah, recently met with local banks to discuss the success and lessons learned from the National Homeownership Fund (NHF) pilot phase.
The initiative aims to provide affordable housing solutions for both public and private sector workers in Ghana.
During the pilot phase, collaborations with three local banks facilitated underwriting local currency mortgages for public sector workers and provided construction finance to developers.
The Minister emphasized the importance of these partnerships and the NHF’s goal of ensuring decent and affordable housing for all qualifying Ghanaians.
With Ghana facing a significant housing deficit, expanding the NHF’s reach aims to enable more citizens to access affordable mortgage rates and achieve homeownership, thereby improving living conditions and promoting economic stability.
Mr. Oppong Nkrumah reaffirmed the government’s commitment to addressing housing challenges and called for stakeholder support in this endeavor.
In other news
Dr. Zanetor Agyemang-Rawlings, the Member of Parliament for the Korle Klottey Constituency, is advocating for policies to protect arable lands in peri-urban areas from real estate development.
Speaking at an event in Accra, she highlighted the urgent need to regulate land use to prevent a potential food crisis.
She emphasized the importance of food production over housing development in the country.
Yecham Property Consult and the Global Entrepreneurship Network-Ghana (GEN-Ghana) led a delegation of policymakers, industry professionals, real estate developers, and consultants to the 2nd Ghana Green Building Summit in the UK.
The tour aimed to introduce the delegation to innovative green construction methods, funding opportunities for sustainable buildings, energy efficiency, e-mobility ventures, and emerging circular technologies.
The delegation attended UK Construction Week, where they learned about green affordable housing, energy efficiency, and funding opportunities.
The tour facilitated partnerships and business opportunities between UK and Ghanaian companies, with support from Ghana’s Ministry of Works and Housing and the UK Ghana Chamber of Commerce.
On the International Front
In the first quarter of 2024, Portugal attracted 682 million euros in foreign direct investment (FDI) in real estate, a decline from 853 million euros in the last quarter of 2023.
Despite this decrease, real estate still accounts for the majority of the 1,000 million euros in FDI the country received between January and March 2024.
Overall, real estate investment continues to be the largest sector for foreign investment in Portugal, although the amount has dropped from both the end of 2023 and the summer of last year, which saw 1,137 million euros in real estate FDI
Source : Property Express News, Joycelyn Marigold & Diana Okyerebea
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