President announces new national housing plan to lower rent and expand homeownership.

President John Dramani Mahama has announced a major national housing initiative to significantly increase the country's housing stock, expand access to affordable homeownership, and tackle the burden of high rent advances on Ghanaian families.

The National Housing Programme, he said, will be formally presented to Parliament by the Minister for Finance, Dr Cassiel Ato Forson, during the 2027 Budget Statement.

Speaking during a working visit to inspect progress at the Saglemi Affordable Housing project on Thursday, President Mahama said the sustainable, long-term government intervention is essential to resolving Ghana's urban housing crisis.

"Our long-term solution is to increase the supply of decent and affordable housing across the country," he stated, adding that boosting social housing will relieve pressure on the rental market and drive down accommodation costs nationwide.

As a precursor to the broader national rollout, President Mahama said the District Housing Scheme, supported by a GHS 500 million allocation in the 2026 budget, is being implemented by the Ministry of Works, Housing and Water Resources. Construction of residential units in selected districts will begin before the end of this year, marking the first step in a four-year plan to ensure equitable housing access across all regions.

Addressing rent advance exploitation, the President acknowledged that existing rent laws capping advance payments at six months are difficult to enforce. He noted that, due to the severe housing deficit, desperate tenants often hesitate to report offending landlords. The government will prioritise supply-side expansion to resolve the deficit rather than relying only on legal enforcement.

To make homeownership accessible, the government is also collaborating with the financial sector, with several financial institutions, alongside the Home Ownership Fund, introducing tailored mortgage products with low interest rates.

Reviving Saglemi: 1,500 Units Scheduled for 2027

Providing an update on the Saglemi Affordable Housing Estate, developer LMI Holdings confirmed that the first 700 units will be completed and placed on the market by March 2027. The remaining 800 units will be completed by December 2027.

The housing mix comprises one- to three-bedroom apartments and townhouses. Forty (40) per cent of the homes will be heavily subsidised to ensure low-income earners can afford them.

Reflecting on the history of the Saglemi development, President Mahama expressed regret over the political delays that stalled the project:

"This project was a vision that began under the late President John Evans Atta Mills, and I had the privilege of continuing it during my previous administration. Unfortunately, it was suspended when government changed… The unfortunate consequence was that looters invaded the site, stealing electrical cables, washbasins, bathtubs, fittings, and telecommunications infrastructure, leaving behind empty shells."

During the inspection, Mr Kofi Aduhene, Chief Executive Officer of LMI Group, assured the President that all required machinery, equipment, and logistics are on site to ensure completion within the target dates.