Stanbic, GREDA hold housing Fair

Stanbic Bank Ghana in partnership with Ghana Real Estates Development Association (GREDA) at the weekend opened a housing and auto fair in Accra to provide quality, befitting, affordable housing and auto opportunity to customers.

The two-day fair would see representation from members of GREDA, auto dealers and consumer finance companies, which are mostly partners of Stanbic bank on the fair grounds.

Nana Benneh, Head of Stanbic’s Personal and Business Banking, said the fair is targeting a cross-section of the bank’s customers and potential customers.

The Stanbic-GREDA Fair is to afford customers, especially young professionals, whose salaries might not support the kind of housing property they crave for a chance to acquire a means of wealth creation through mortgage solutions and land financing.

Currently, about half of Ghana’s 25 million residents live in urban areas and with a housing deficit around 1.7 million units, the task of providing affordable housing in the country over a 10-year period, requires a minimum of 170,000 units to be built annually.

The housing and vehicle assets market have witnessed significant demand over the last few months especially by the middle-class group, largely on the account of increase in disposal income of the middle class.

The partnership holds the belief that Ghanaians should have access to the housing of their choice and the opportunity to realize the dream home ownership as housing and those who provide it are recognized as the strength of the nation.

The fair saw industrial experts speak to issues relating to the processes involved in title and mortgage registrations, the differences between land titles and indentures, climbing the property ladder as a means of wealth creation and selecting the right estate developers.

Estate developers who have good track record in terms of pricing, quality of development and sound land title issues schooled customers and non-customers, as they have the freedom to operate as entrepreneurs in an open and competitive environment.