Ghana’s growing housing deficit—now exceeding two million units—is increasing pressure on government to overhaul regulation, financing and strategic support for the sector.

According to the Ghana Real Estate Developers Association (GREDA), rapid urbanisation and rising demand for homes require urgent, comprehensive interventions, especially as government rolls out its flagship 24-hour economy initiative.

GREDA President, Dr James Orleans-Lindsay, said a review of the policy shows strong potential to unlock opportunities in construction and housing, but only if backed by meaningful reforms. These include simplifying permit processes, improving access to land, and expanding financing options such as real estate investment trusts (REITs).

He also highlighted the need for improved infrastructure, industry capacity building and stricter standards to enhance quality and sustainability.

Speaking at the 2025 GREDA Awards and Dinner in Accra, Dr Orleans-Lindsay described the 24-hour economy as “a potential game-changer”, noting that with the right government support, developers can scale up affordable housing delivery, enhance essential services like water and sanitation, create jobs throughout the construction value chain and promote greener building practices.

“While we have made significant progress, the challenges remain substantial,” he said. “Working together, we can address persistent bottlenecks such as land title delays, high construction costs, heavy import dependence and limited access to affordable finance.”

He reaffirmed GREDA’s readiness to collaborate with government to drive the objectives of the 24-hour economy.

“Together, we can reset the housing sector and make Ghana a model for sustainable development—one where every citizen has access to decent, affordable housing,” he added, urging developers to “innovate, collaborate and deliver quality homes”.

This year’s Awards and Dinner, themed ‘Resetting the Housing Agenda Under the 24-Hour Economy: GREDA–Government Collaboration’, underscored the sector’s central role in economic transformation.

Presidential Advisor on the 24-hour Economy, Dr Goosie Tanoh, also acknowledged the severity of the housing crisis, calling it one of Ghana’s most urgent national challenges.

He praised GREDA for enduring a tough business climate marked by inconsistent policy decisions, saying its resilience since 1994 reflects strong industry leadership.

Dr Tanoh warned that the worsening housing gap is contributing to wider social pressures. Over 200,000 young people migrate to urban centres annually in search of jobs and accommodation, often ending up in overcrowded homes or informal settlements lacking basic services.

This, he said, undermines workforce productivity: “We cannot expand production, run efficient services or support growing industries when workers cannot secure decent and affordable homes near their workplaces.”

He added that the deficit also affects education, with limited student accommodation weakening academic performance in both secondary and tertiary institutions.

A sustained boom in affordable housing, he argued, would ease social pressures and help reverse long-standing negative trends.

Dr Tanoh described GREDA as a “perfect partner” for delivering this under the 24-hour economy framework, emphasising that the programme aims to transform the housing sector not just through government policy but by empowering entrepreneurial groups, cooperatives and professional associations.