About 80 percent of building materials used in the country are largely imported due to high prices of some locally produced ones, Chief Executive Officer of Ghana Chamber of Construction Industry (GhCCI), Emmanuel Cherry, has said.
According to him, the driving force that normally determines the market of real estate and construction space is the cost of the building materials, hence, the need for government to support the local manufacturers with incentives to enable them manufacture more at a cheaper price.
“As I said earlier, 80 percent of building materials used in the country are imported. Even though we have a tile manufacturing company here, the prices of the imported ones are cheaper than the local ones. And since everyone wants to consider what will help him get profit, I will go for what is cheaper.
“The local economy can only be protected if we give incentives to the local manufacturers to produce whatever we consume here so that we close borders on some of the imported products. If that happens, we will gradually develop an appetite for local goods,” he said this on the Home Owners show on Metro Television.
Mr. Cherry also raised concerns about the space not receiving any regulation, but very hopeful that the coming into force of the Housing Authority will help bring sanity into the real estate sector.
“In the real estate sector, you will realise that we do not have a proper regulator. So in the wisdom of this government, they are promoting a bill called the Housing Authority and when that comes into force, automatically it is going to bring sanity within the space,” he said.
Mr. Cherry advised that developers must also pay critical attention to professionalism anytime they want to undertake a project. He added that these are the reasons why there are architects and surveyors; therefore, they should try as much as possible to seek expensive advice.
In the case of imported goods being cheaper on the market, business editor at Joy FM, George Wiafe, indicated that it is as a result of other countries subsidising prices of their products.
He added that there is also a lowered benchmark for the traders upon the arrival of the goods in Ghana, thereby making it cheaper for importers.
