GREDA Urges Immediate Interest Rate Cuts to Revive Housing Sector
The President of the Ghana Real Estate Developers Association (GREDA), Dr. James Orleans Lindsay, has renewed calls for a swift and substantial reduction in interest rates, insisting that such action is essential for stabilising the housing sector and stimulating broader economic growth.
Addressing participants at the 2025 GREDA Awards and Dinner Night, Dr. Lindsay described Ghana’s high interest-rate regime as one of the most critical challenges confronting developers and potential homeowners. He explained that the rising cost of borrowing has inflated construction expenses and pushed mortgages further out of reach for many Ghanaians.
“Our sector cannot unlock its full potential until interest rates are brought down to realistic levels. We need urgent, decisive action not gradual adjustments. A rapid reduction will not only support developers but also empower ordinary citizens who dream of owning a home,” he stated.
He stressed that a more favourable financial environment would attract fresh investments, strengthen local construction firms, and help reduce Ghana’s growing housing deficit. Dr. Lindsay warned that delays in easing rates could further hinder growth and undermine efforts to expand affordable housing.
This year’s GREDA Awards and Dinner Night celebrated outstanding achievements within the real estate industry, honouring companies and individuals for innovation, quality, and leadership. Despite the successes showcased at the event, Dr. Lindsay noted that developers continue to operate under difficult economic conditions.
He called on policymakers, financial institutions, and sector stakeholders to collaborate on long-term solutions that prioritise sustainability and affordability.
“Reducing interest rates swiftly is not just an economic decision, it is a social necessity that aligns with our national development goals,” he added.
