–over 800 homes built in two years, Housing Minister says

THE People’s Progressive Party/Civic (PPP/C), since assuming government in August 2020, has already distributed 20,500 lots, and developed 44 new housing schemes, upgraded and installed infrastructure in 43 existing housing areas, regularised six areas and reduced squatter settlements from 19 to 13.

The government has also completed construction of 827 low and moderate- income and young professionals houses, while a further 527 houses are currently under construction, in an investment costing more than $7 billion.

The government has also processed and distributed 4,256 Certificates of Title and Transports.

The foregoing statistics and more were shared by Minister of Housing and Water Collin Croal, when he recently compared the PPP/C government’s accomplishments in housing over the past two years as opposed to what was achieved in five years under the previous A Partnership for National Unity/Alliance for Change (APNU+AFC) government.

Refuting claims by APNU Parliamentarian and former Junior Minister of Housing Annette Ferguson that half of the house-lot allocations under the PPP/C were inherited from the previous Coalition Government, Minister Croal, in a Letter to the Editor, straightened a few facts about what was accomplished in housing during the APNU+AFC’s tenure.

“During its lethargic tenure in government [from] 2015-2020, the Coalition developed three housing schemes: At Peter’s Hall, Prospect Track ‘E’, and Providence, where 279, 186 and 1,258 house lots were developed, respectively. In its five years, the Coalition allocated a total of 7,534 house lots, and regularised no new areas,” Minister Croal clarified.

He went on to note: “When the PPP/C assumed government, we inherited a backlog of 75,509 applications; there was a dire need for new housing areas, for infrastructural development of existing housing areas, and urgent need for house lots. Therefore, the PPP/C’s Manifesto promise and the subsequent mandate of the Ministry of Housing and Water sought to bring immediate relief to this burden.”

To address the backlog of housing needs left by the APNU+AFC, since assuming office, the PPP/C government has been on an aggressive housing and construction and infrastructure development drive all across the country.

Over the past two years, the government has also continuously put a number of programmes and initiatives in place to help make homeownership more affordable, and to boost the quality of life of Guyanese.

Those programmes and initiatives include the removal of taxes on several categories of construction materials, such as cement, and the launch of a “Home Construction Assistance” facility, whereby the government partners with prospective homeowners, the banks and contractors to deliver an end product that is a home to the respective families.

Under the “Home Construction Assistance” programme, applicants will be able to select their preference from an option of three standard models of houses, which will cost $7 million, $9 million, or $12 million.

The government also launched the ‘cement- and-steel subsidy programme, which assists landowners with the steel and cement for their foundation.

Under this initiative, Guyanese constructing homes to the tune of $6 million and below could benefit from 80 lengths of ½ inch steel rods, 60 lengths of 3/8 inch steel rods, and one sling of cement, while builders with estimates of above $6 million-$25 million will benefit from two slings of cement.

Through agreements with the banks in Guyana, the government was able to secure a reduction in the interest rates on loans of up to $9 million to 3.8 per cent.

At the New Building Society (NBS), the interest rate for mortgages were further reduced, while the institution also opened up four new branches across the country to cater for the upsurge in business.

At NBS, for loans from $1 million to $4 million, the interest rate was reduced from four per cent to 3.50 per cent, while for loans above $4 million and up to $9 million, the interest rate moved from 5.95 per cent to 3.75 per cent; and for loans above $9 million and up to $20 million, the interest rate was reduced from 5.95 per cent to 5.70 per cent.

In Region Nine (Upper Takutu-Upper Essequibo), the government also gave $1 million to each person owning a house lot, thereby seeing an initial 600 allottees in the region benefiting from the programme.

Additionally, the NBS along with the Guyana Bank for Trade and Industry (GBTI) agreed to provide $2 million loans at 3.5 per cent interest to Region Nine residents without the need for collateral.