Constraints on Residential Housing Development in the Greater Accra Region of Ghana
Keywords:
constraints, development, projects, residentialAbstract
Quality housing is the engine of growth for every country due to the numerous benefits it provides for economic and social development. Residential housing is of no exception. Adequate quality residential housing development provision is vital. However, residential developers and building contractors in the developing countries such as Ghana usually meet constraints in the process of executing residential housing projects. This study was designed and structured purposely to identify such constraints as well as establishing pragmatic measures which can be adopted to address or minimize such constraints. To begin with, researchers took time to conduct review on the various kinds of residential developers currently existing and operating in Ghana’s real estate industry, identify constraints they face and measures to adopt in addressing the identified constraints. Thereafter, a quantitative approach was adopted where a survey of questionnaires were distributed to some selected real estate developers, building contractors and building project managers who are directly involved in residential housing development projects in Greater Accra Region of Ghana through referrals in collecting primary data. Out of the 160 questionnaires distributed, 152 were received which represented 95% response rate. The gathered data were screened and analysed by using SPSS software. It was discovered through this research study that the unstable inflation rate, high interest rate, land acquisition challenges, delay of development permit approval and high cost of land servicing are the main constraints impeding residential housing development. The study further suggests that the Government of Ghana should be advised to develop economic policies that can stabilize inflation, lower interest rate, speed up permit approvals whiles developers also take initiative to form PPPs with the key role players in providing cost effective land servicing exercises and conducting due diligence when acquiring lands for residential housing development projects.
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