The Deputy Minister of Finance, Thomas Nyarko Ampem, has stated that achieving affordable housing in Ghana will require sustained macroeconomic stability, long-term financing options, and key structural reforms to lower the cost of home ownership.

Speaking at the opening of the National Home Ownership Fair 2026 in Accra on Thursday, Mr Ampem highlighted the urgent need to address the country’s housing deficit, estimated at more than 1.8 million units as of 2025.

Growing housing deficit

According to him, the housing gap remains one of the country’s most pressing national challenges, largely driven by rapid urbanisation, population growth, and limited access to housing finance.

He explained that the housing crisis goes beyond a social concern, noting that poor living conditions, high rent costs, and long commuting times also affect productivity, health, and educational outcomes.

Construction sector showing potential

Mr Ampem cited figures from the Ghana Statistical Service, which showed that the construction sector grew by 5.5 percent year-on-year in the third quarter of 2025.

He said the growth demonstrates the sector’s potential to generate employment and drive economic expansion when it receives the right level of support and investment.

Government’s three-point strategy

The Deputy Finance Minister explained that the Ministry of Finance (Ghana) is focusing on three major priorities to address the housing challenge:

1. Maintaining macroeconomic stability to reduce the cost of capital.
2. Unlocking long-term patient capital to expand housing finance.
3. Implementing reforms to reduce non-construction costs such as land acquisition, permits, and infrastructure provision.

Strengthening partnerships for housing finance

Mr Ampem said the government’s fiscal strategy remains focused on discipline, credibility, and transparency to keep inflation low, stabilise the national currency, and restore investor confidence.

He added that the Ministry is also strengthening partnerships with pension funds, banks, and development finance institutions to mobilise long-term capital for housing projects.

In addition, efforts are underway to improve land title security and streamline regulatory processes to make housing development faster and more affordable.