• 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 Features

State Housing Company’s pricing policy faces scrutiny as Minority raises concerns

2 years ago
in Features, highlights, Home, home-news, latest News, Real Estate
2 min read
0 0
0
348
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

State Housing Company’s pricing policy faces scrutiny as Minority raises concerns

In a parliamentary session marked by growing concerns over the soaring prices of housing units constructed by the State Housing Company (SHC), minority members of the Works and Housing Committee have voiced their disapproval, asserting that the current pricing structure renders these units out of reach for the average Ghanaian and even the middle class.

During inspections of various developments in Adenta and Amrahia, suburbs of Accra, the committee discovered price tags ranging from GH₵800,000 to GH₵1.1 million. The astronomical figures have sparked outrage among lawmakers, with Vincent Oppong Asamoah, the Minority Spokesperson on Works and Housing, expressing his disbelief that even he, as a privileged Member of Parliament, would be unable to afford such housing. He went on to question how a low-level civil servant could possibly amass the necessary funds to purchase these units, highlighting the stark reality of their inaccessibility.

Chairman of the Committee, Isaac Kwame Asiamah, while acknowledging the commendable efforts of the current management in revitalizing the State Housing Company from its previous state of disrepair, concurred with his colleagues regarding the exorbitant prices. He noted that the middle class, widely regarded as the backbone of the economy, would face considerable difficulties in raising the required capital for homeownership.

In response to the mounting criticisms, Kwabena Ampofo Appiah, the Managing Director of the State Housing Company, shed light on the institution’s long-standing objective of pursuing profitability while striving to provide homes of the highest quality at affordable prices. However, Appiah also acknowledged the challenges faced by the SHC, particularly in land acquisition in the Greater Accra Region, which have contributed to the current pricing structure.

Amidst the debate, the government has extended an offer to support the SHC by providing essential infrastructure such as roads, water, and electricity. This assistance is expected to alleviate some of the financial burdens associated with housing construction, potentially leading to a reduction in unit prices. Appiah expressed optimism that this collaborative effort would create a sustainable framework, enabling the SHC to deliver homes tailored to lower-income individuals and families, thus addressing the pressing issue of affordability.

The escalating dialogue surrounding the steep prices of SHC housing units underscores the urgent need for accessible housing options in Ghana. With escalating property costs, particularly in urban centers, it has become imperative for governmental entities and stakeholders to forge alliances and devise strategies aimed at ensuring affordable housing options for all strata of society.

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

The current scrutiny faced by the SHC presents an opportunity for policymakers and the housing industry to reevaluate existing pricing models and devise innovative solutions. Collaborative efforts should be undertaken to explore alternative financing mechanisms, streamline construction processes, and engage in sustainable urban planning to curb the rising costs of housing.

Furthermore, enhancing the availability of housing finance options, promoting public-private partnerships, and encouraging developers to incorporate affordable housing components into their projects are vital steps towards bridging the affordability gap. By adopting a multi-faceted approach, Ghana can strive towards equitable access to housing, fostering social stability and economic growth.

As Parliament raises concerns over the unaffordability of housing units constructed by the State Housing Company, urgent action is needed to address the widening gap between rising prices and the financial capabilities of the average Ghanaian and middle-class citizens. By fostering collaboration between governmental agencies, private sector stakeholders, and housing experts, Ghana can forge a path toward a more inclusive and accessible housing market, ensuring that housing becomes a reality for all its citizens.

Tags: State Housing CompanyState Housing Company's pricing policy faces scrutiny as Minority raises concerns
No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 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.