- The tax has exacerbated the challenges faced by the industry
- The fair emphasizes the importance of Green Housing
- The association encouraged potential buyers
The Ghana Real Estate Developers Association (GREDA) has called on the government to eliminate the five percent Value Added Tax (VAT) imposed on estate development.
According to GREDA President Patrick Ebo Bonful, the tax has exacerbated the challenges faced by the industry, hindering growth and affordability.
Bonful made the appeal during the opening of the Graphic-GREDA Housing Fair, an event aimed at connecting homeowners with developers and industry experts. The fair emphasizes the importance of “Green Housing: Safe and Secure Home Ownership, Let the Buyer Beware.”
To protect consumers, GREDA stressed the importance of adhering to the Real Estate Act, 2020, which provides safeguards for homeowners.
The association encouraged potential buyers to conduct thorough research before making property purchases.
The three-day event brought together key players in the housing sector, including developers, financial institutions, and insurance providers, to offer a comprehensive platform for property-related transactions and information sharing.
GREDA’s call for VAT removal underscores the industry’s need for government support to address challenges and stimulate growth.
