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February 20, 2026
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GREDA urges reduction of building materials prices as cedi gains strength
Money
Policy
Growth
Key Points
- The Ghana Real Estate Developers Association (GREDA) is concerned about persistently high building material costs.
- This concern arises despite the recent appreciation of the Ghanaian cedi against the US dollar.
- GREDA calls on suppliers of materials like cement and iron rods to adjust their prices downwards, aligning with current exchange rates and actual production costs.
- Executive Secretary Samuel Amegayibor criticizes suppliers for continuing to price materials based on inflated dollar exchange rates, harming the real estate sector.
- GREDA urges the government and regulatory bodies to intervene and enforce pricing discipline to ensure transparency and make housing more affordable.
Why This Matters
This issue is critical for Ghana as it directly impacts housing affordability, a significant social and economic challenge. Unjustified high material costs hinder the growth and viability of the crucial construction and real estate sectors, potentially slowing job creation and overall economic development. It also points to potential market inefficiencies and the need for regulatory oversight to ensure fair pricing practices.
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