Minister-designate for Works and Housing (Minister of State), Freda Prempeh says the ministry will be working to create a rent-to-own scheme for citizens especially young graduates.

Speaking at the Appointments Committee vetting, she stated that this scheme will help give people the chance to rent and acquire homes at affordable prices without the burden of landlord and tenant issues.

“When you meet the average person on the street, he will not tell you I am looking for accommodation to buy, they are rather looking for accommodation to rent.”

“But because there is so much monopoly in the area of renting with the landlord, it is quite difficult and cumbersome for people to have access to affordable rentals. So I believe that (rent-to-own) is the way to go now.”

Madam Freda said that the ministry will assist citizens especially young graduates to rent homes in the city while they work.

She explained that the rent to own scheme is a short term measure that is being introduced to help bridge the housing deficit gap.

“Mr Chairman you agree with me that the housing deficit gap as it stands now is a bit scary, and if you really want to break the housing deficit gap it should be all hands on deck. We should be looking at the short to medium and long-term issues.”

In the long term, Madam Freda said the Ministry will facilitate the building of affordable housing across the country to help people acquire properties at low prices.

She revealed that some traditional leaders, including Otumfuo Osei Tutu II, have given out hectares of lands in some regions for the housing projects to commence.

“One of my priorities as a Minister of State at the Ministry of Works and Housing, to assist the Minister to rule out the rent-to-own scheme. Then we can be looking at the affordable housing projects where through mortgage financing people can source money to look for some of these units to buy,” she added.