Ghana Property Awards calls for level playing ground in real estate growth.
The 10th Edition of the Ghana Property Awards is scheduled for the 18th of November 2017 at the Banquet Hall State House, Accra.
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However, it will be preceded by the Northern sector awards, scheduled for the 1st of July 2017, at the Golden Tulip, Kumasi.
The awards instituted to recognise and appreciate the efforts of the real estate sector will reward diligence, hard work, and competence in the construction industry.
Themed “Heightening developmental prospects through skills and competence”, the organisers said one of the challenges facing the housing sector is the difficulty in securing loan facilities. This they said affects their resolve to support government’s effort to provide decent and affordable housing to Ghanaians.
According to them, the housing deficit in the country needs the support of the real estate and construction industry.
It, therefore, called on the government to provide fiscal and monetary incentives to stimulate increased private sector participation in affordable housing schemes for low-income households.
"Government has over the years delved into the murky waters of providing social housing for citizens. It must be acknowledged that while some gains have been made in this sector, there still remains a lot more ground to be covered in the housing sector."
"A walk through the city of Accra at night gives firsthand information of how, the government has not recorded much success in its attempt to house the poor and vulnerable, “it said.
Madam Irene Agyenkwa, President of the Ghana Property Awards, was of the opinion that "although there is a surge in developmental projects, they are mostly undertaken by expatriate companies which give the impression that Ghanaian infrastructure sector is not equipped to handle monumental projects.
"Among the goals of Ghana housing policy is the ability to provide adequate, decent and affordable housing that is accessible and able to satisfy the needs of all people living in Ghana, “she said
To achieve the vision of affordable housing in the country the sector needs to be well resourced to secure loans for large scale projects. Indigenous real estate companies should not have struggles to secure financial assistance to complement government’s vision, she added.
In that regard, the sector is working to develop a universally acceptable data collection of proper addressing system, electronic data on properties and effective data harmonisation that will make it quite easy to locate, re-locate and trace customers.
"This makes loan disbursement easy and cheaper for a mortgage. Properties must be traded and exchanged as any other product to create wealth."
A lucky winner will be rewarded with a 2 bedroom house from Lakeside Estate.