The Ghana Real Estate Developers Association (GREDA) has issued an appeal to suppliers of building materials, calling for immediate action to correct what it describes as unjustified pricing practices in the construction industry.

In a press statement issued on May 22, 2025, GREDA urged suppliers of essential materials such as cement, iron rods, and other inputs to stop increasing prices based on inflated exchange rates and to begin reflecting the recent strengthening of the Ghana Cedi against the US dollar in their pricing.

According to GREDA, despite the local currency’s recent appreciation, the prices of key construction materials remain stubbornly high.

This, the association argues, is due to suppliers continuing to base their prices on exaggerated exchange rate assumptions — a trend GREDA says distorts the market and undermines affordability in the housing and construction sectors.

“This practice makes construction less affordable for the average Ghanaian and threatens the sustainability of the industry,” the statement read.

The association is now calling on all suppliers to align their pricing mechanisms with actual market exchange rates and real input costs.

GREDA urged the government and relevant regulatory bodies to take firm steps to enforce pricing discipline and promote transparency across the supply chain.

The association pledged to maintain responsible pricing, guided by real economic indicators that are essential to the long-term stability and growth of the real estate and construction sectors.