• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Real Estate

President Akufo-Addo commissions 204 housing units at Tema Community 22

5 years ago
in Real Estate
1 min read
0 0
0
165
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

President Akufo-Addo has commissioned 204 affordable housing units constructed under the the National Mortgage Scheme (NMS) and the Affordable Housing Real Estate Investment Trusts (REITs) (Rent-to-own) Scheme at Tema Community 22. 

The commissioning of the housing units by the president follows the successful 2-year piloting phase of the two housing schemes. 

Addressing persons present at the commissioning, the president reiterated the commitment of his administration to finding a permanent solution to house ownership challenges faced by average Ghanaians.  

He noted that his Government will use the REIT scheme to revive the affordable housing concept and complete many of the abandoned housing projects started by previous Governments thereby providing affordable housing to many low-income Ghanaians who are unable to own homes. 

The National Housing and Mortgage Fund (NHMF) was set up to pilot two schemes; the National Mortgage Scheme (NMS) and the Affordable Housing Real Estate Investment Trusts (REITs) (Rent-to-own) Scheme.

Under the National Mortgage Scheme NMS), mortgages are being underwritten at rates of 10 per cent -12 per cent by the participating banks namely, GCB Bank Limited, Stanbic Bank Ghana Limited and Republic Bank Ghana Limited. 

This intervention has reduced mortgage rates by over 60 per cent, compared to the average market rate of 28 per cent.

RelatedPosts

Ghana’s Housing Crisis: 11.5m Citizens Unable to Afford Homes, Says Housing Minister

KNUST Professor Calls for Pro-poor Housing Model as Government Pledges Reforms

Bright Simons Unpacks ‘Katanomic’ Failures Behind Saglemi Housing Debacle

The Affordable Housing REITs is promoting the rent-to-own scheme with only monthly rent payments and after a period, the occupant has the option to own it. 

The rent-to-own scheme will eliminate the burdened two (2)-year rent advance system. This is designed to give low income workers the opportunity to rent and eventually own homes.

Source: norvanreports
Tags: Affordable Housing Real Estate Investment Trusts (REITs)National Mortgage SchemePresident Akufo-AddoTema Community 22
No Result
View All Result

Highlights

President Mahama Rings Nasdaq Bell to Court Global Investors

African Countries That Survive on Diaspora Remittances More Than Export Earnings

Ghana Boxing Authority Promises Enhanced Medical Care for Boxers Following Bahubali’s Tragic Death

Premier League: Hearts of Oak eye Second Straight win as Eleven Wonders Visit Accra on Friday

FirstBank Ghana Hosts Maiden Firstmonie Agents Forum in Tamale

FDI Inflows Surge 382% in H1 2025 to $862.9m 

Trending

Agribusiness

New AfDB Review Highlights Inland Fisheries as Lifeline for Millions of Africans

September 25, 2025

New AfDB Review Highlights Inland Fisheries as Lifeline for Millions of Africans The African Development Bank (AfDB)...

This Gamechanger Could Charge up Africa’s EV Ownership

September 25, 2025

Bank of Ghana Prices 1oz Gold Coin at GHS 47,960

September 25, 2025

President Mahama Rings Nasdaq Bell to Court Global Investors

September 25, 2025

African Countries That Survive on Diaspora Remittances More Than Export Earnings

September 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.