The President of the Ghana Real Estate Developers Association (GREDA), Dr. James Orleans Lindsay, has renewed his appeal for a rapid and substantial reduction in interest rates, emphasizing that such action is critical to stabilising Ghana’s housing market and driving broader economic growth.
Delivering his remarks at the 2025 GREDA Awards and Dinner Night, Dr. Lindsay described the current high interest-rate environment as one of the greatest barriers facing developers and potential homeowners. He explained that the rising cost of borrowing has not only pushed construction expenses higher but has also made mortgage financing unattainable for many Ghanaians.
“Our sector cannot function at its full potential while interest rates remain this high,” he said. “We need bold and immediate reforms—not slow, incremental changes. Lower rates will support developers and give ordinary citizens a fair chance at homeownership.”
He further noted that easing interest rates would help attract investment, strengthen local construction firms, and accelerate efforts to reduce the country’s significant housing deficit. Dr. Lindsay warned that delaying monetary adjustments could stifle growth and hinder progress on affordable housing initiatives.
Although the awards ceremony honoured outstanding achievements within the real estate industry, Dr. Lindsay pointed out that developers continue to operate in a difficult economic environment.
He called on government authorities, financial institutions, and industry stakeholders to collaborate on sustainable policies that support affordability and long-term development.
“Reducing interest rates is not just an economic strategy,” he concluded. “It is a social imperative that aligns with Ghana’s long-term development agenda.”
The event gathered leading developers, investors, government representatives, and industry professionals, many of whom echoed the need for more supportive policies to unlock growth in the real estate sector.
Source: Theghanareport
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