For thousands of Ghanaians locked out of home ownership, the revival of the Saglemi housing project should be good news. But whether it actually is will come down to one thing: how the homes are priced. If Saglemi follows the dollar-pricing model used at Pokuase, “affordable housing” could once again mean anything but affordable for the average buyer.
President John Dramani Mahama has said the first 700 units at Saglemi are expected to be ready for commissioning by March 2027, with 800 units to be completed by December. The current phase is the first part of the original 5,000-unit project, with work on the remaining 3,500 units expected to follow.
That timeline puts the eventual pricing of the homes firmly in the spotlight.
The concern is particularly relevant because Ghana’s previous National Affordable Housing Programme at Pokuase, launched in 2023, published price ceilings in US dollars. A studio was capped at US$13,800, a one-bedroom at US$20,700, a two-bedroom at US$34,500, and a three-bedroom at US$42,550. Although the amounts were payable in cedis at the prevailing exchange rate, the dollar reference meant the cedi cost could move with the currency. Developers were not permitted to sell above the agreed ceilings but could sell below them.
The Saglemi project now returns under a government that is taking a different position on how affordable housing should be financed.
Under a GH¢3 billion revolving fund announced for affordable housing, President Mahama said homes would be indexed in cedis and mortgages would also be structured around the local currency. The government says the approach is intended to protect homeowners from the higher repayment costs that can result from exchange-rate movements.
That policy position matters beyond the mortgage market.
The government has also intensified its stance against landlords charging rents in dollars and against excessive or unapproved charges in the rental and hostel market. If the administration is insisting that accommodation costs should reflect the realities of Ghanaian incomes, prospective Saglemi buyers will expect the same principle to apply when the houses are eventually priced.
The affordability question is therefore likely to extend beyond the headline selling price. Buyers will want to know the size of the required deposit, mortgage interest rates, repayment periods, and the income level needed to qualify.
President Mahama has said several financial institutions have developed mortgage products for Saglemi, with arrangements to support buyers with their initial payments and provide relatively low-interest mortgages. He has also argued that increasing the supply of affordable homes is necessary to reduce pressure on the rental market and the burden of large rent advances.
That makes Saglemi an important test of the government’s broader housing strategy. Completing 1,500 units would add to housing supply, but the economic benefit would be limited if the finished properties are priced beyond the reach of the households facing the greatest pressure in the rental market.
The government has also allocated GH¢500 million in the 2026 Budget for district housing projects, with Saglemi forming part of efforts to increase the supply of affordable homes across the country.
Saglemi’s revival is a welcome step, but building houses is only half the job. Until the pricing, mortgage terms, and eligibility criteria are made clear, the real question of whether Ghanaians can actually afford to live there remains unanswered.
