Rehoboth Properties Bridges Housing Deficit with 400 New Affordable Units.

Introduction:
In a bold step toward solving Ghana’s 1.8 million-unit housing deficit, Rehoboth Properties Limited has launched a 400-unit housing development in Kwabenya. This marks the first phase of a larger 1,700-unit project designed to provide affordable, high-quality accommodation for Ghanaian homebuyers, particularly public sector workers and first-time homeowners.

Project Overview:
The newly commissioned estate features a mix of one-, two-, and three-bedroom units, each with a living and dining area, kitchen, and bathrooms designed for comfort, durability, and affordability. Prices start at:

• $30,800 for a 1-bedroom unit (1 kitchen, 1 bathroom)

• $45,000 for a 2-bedroom unit (1 kitchen, 2 bathrooms)

• $50,000 for a 3-bedroom unit (1 kitchen, 2 bathrooms)

Residents will enjoy modern amenities including swimming pools, a tennis court, basketball court, and a dedicated commercial area with shops for added convenience.

CEO’s Statement & Housing Policy Advocacy:
Speaking at the launch, Gideon Ayiku Akrofi, CEO of Rehoboth Properties, emphasised the urgency of closing the housing gap. Citing the 2020 Population and Housing Census, he highlighted the 1.8 million-unit deficit and urged the government to support private developers through tax incentives, policy reform, and backing for green housing initiatives.

Mr. Akrofi noted that while there is strong interest from public sector workers, affordability remains a challenge due to income constraints. He revealed that over 70 public sector workers have already acquired homes at Rehoboth Knightsbridge under the Ghana Housing Fund, supported by the Ministry of Finance.

He called on the government to revisit its risk model for housing schemes and offer the same level of support to local builders that it extends to foreign developers.

Government Response:
Minister for Works and Housing, Francis Asenso-Boakye, pledged continued government support for affordable housing delivery. He acknowledged that Ghana’s current housing systems have failed to meet the needs of low- and middle-income earners and outlined a plan to:

• Acquire land banks for private sector housing development

• Establish a Ghana Housing Authority

• Launch a Home Ownership Fund for cedi-denominated mortgage access

• De-risk the housing industry for local and foreign investors

Voices from the Industry:
Keynote speaker Right Rev Prof. Aaron Mike Oquaye praised the Rehoboth model as a blueprint for social housing in Ghana, calling for infrastructure support and legal frameworks to make such projects more viable. He also proposed laws requiring banks to allocate a portion of their profits toward housing development.

GREDA President, Patrick Bonful, called for deeper collaboration between the government and the Ghana Real Estate Developers Association, urging reforms to reduce construction finance costs and improve access to long-term, low-interest cedi mortgages. He also advocated for the review of the Home Mortgage Finance Act (Act 770) to encourage more local bank participation.

Financial Sector Perspective:
Ecobank Ghana MD, Daniel Sackey, noted that even at reduced prices, many Ghanaians still struggle with the initial deposit and repayment structure of housing finance. He stressed the need for improved financial literacy to help citizens better understand and access available mortgage facilities.

Conclusion:
The Rehoboth 400-unit launch is more than a housing project, it’s a catalyst for policy conversations, financial reform, and real progress in addressing Ghana’s housing crisis. With collaborative effort between developers, government, and the financial sector, affordable housing for all is no longer a dream, it’s a strategy in motion.