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SuCasa Properties Targets Ghana’s Housing Deficit with Affordable Solutions
National Homeownership Fund Achieves 55% Completion of 129 Housing Units Since April 2024
National Homeownership Fund Achieves 55% Completion of 129 Housing Units Since April 2024
SuCasa Properties is tackling Ghana’s critical 1.8 million housing deficit by focusing on affordability, according to Michael Vealle, the company’s head of sales. In an interview with Asaase Radio, Vealle emphasized the company’s commitment to easing the housing burden through strategic efforts.
SuCasa has established itself as a key player in the real estate sector, offering flexible payment plans and customization options to make homeownership more accessible.
The firm has completed two communities with 72 units and is developing a third project that will add around 787 units to the market.
The National Homeownership Fund (NHF) is making substantial progress in delivering affordable housing to Ghanaians, with 129 new housing units now 55% complete since construction commenced in April 2024.
This development, a collaboration between the NHF, Tema Development Corporation (TDC), and the Ministry of Works and Housing, was praised by Sector Minister Kojo Oppong Nkrumah during his visit to the site on August 23, 2024.
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The Housing Minister , Kojo Oppong Nkrumah, has commended the project’s swift advancement, noting that several units are nearing the roofing stage.
He highlighted the project’s efficiency and quality, stating, that the speed of work is commendable, and it’s clear that they haven’t sacrificed quality.
The NHF is integral to the government’s plan to reduce Ghana’s housing deficit by providing affordable housing options for both public and private sector workers.
In International News
In August, the UK experienced the fastest annual house price growth since late 2022, driven by cheaper mortgages that are gradually reviving the property market.
Nationwide’s house price index showed a 2.4% year-on-year increase, although prices slightly dipped by 0.2% from July, contrary to economists’ expectations of a 0.2% rise.
The Bank of England also reported a surge in mortgage approvals, the highest since the “mini” budget under former Prime Minister Liz Truss.
Despite the recent growth, house prices are still about 3% below the peak from summer 2022. As the economy steadily recovers, housing market activity is expected to improve, aided by lower interest rates and rising earnings.
The average house price in August was £265,375.
Kojo Oppong Nkrumah, the Minister of Works and Housing, has lauded the progress made on the National Homeownership Fund (NHF) project, where 129 housing units are now 55% complete.
During his visit to the construction site on August 23, 2024, the Minister expressed his satisfaction with the speed and quality of the work.
The NHF project, a collaboration with the Tema Development Corporation (TDC) and the Ministry of Works and Housing, is central to the government’s efforts to address the housing deficit. Minister Oppong Nkrumah praised the partnership’s effectiveness, noting, The partnership has been instrumental in demonstrating what can be achieved when different stakeholders come together with a common purpose.
The Minister emphasized that the ongoing Phase 3 of the NHF project showcases what can be accomplished through efficient collaboration, benefiting Ghanaians in need of affordable housing.
Source : Joycelyn Marigold -Property Express News
