The Ghana Real Estate Developers Association is calling on government to channel the resources meant for the National Rental Assistance Scheme to estate developers.

According to GREDA, that will help bridge the housing deficit in the country.

A GH¢100 million seed fund has been allocated for the commencements of the National Rental Assistance Scheme in the 2021 budget presentation, to enable eligible Ghanaians acquire rent in advance.

But Executive Secretary of GREDA, Samuel Amegayibor says bridging the housing deficit and its affordability should be the priority.

“Any intervention to assist frustrated Ghanaians with a huge rental advance; I think it is in the right direction. However, we are of the view that the issue of rent advance is only based on demand and supply and that there are only few houses for rental. That is why landlords seem to be taking advantage of the situation and are charging huge rental advance,” he noted.

He further said “and so we were of the view that if we had channeled most of the resources that are available to us [GREDA], to rather look at the issue of increasing the housing supply to make more houses available on the market, it will automatically shrink and reduce the tendencies of Landlords taking advantage of tenants.

According to Majority Leader, Osei Kyei Mensah Bonsu, who presented the 2021 Budget to parliament, the scheme will help eligible Ghanaians pay their rent in advance, thereby reducing the financial burden that comes with acquiring a home.