Guyana’s housing sector continues to do well

TIMES INT'L

Dear Editor,
It is very good to note that the housing sector has been allocated some Gy$3.1 billion in order to continue ensuring that citizens have improved access to housing and to a better quality of life. With emphasis being placed mainly on providing access to affordable housing and developing new sustainable housing schemes, it is a sure way to keep Guyanese rooted. In fact, it is incredible that focus is also on increasing the provision of turn-key housing and expanding the construction of core houses in Guyana.
We all will agree that the best way to make money grow is to invest, but the stock market can be a scary, unpredictable beast to those who do not have experience with it. That partly explains why some are choosing to go for their own homes.
Then also rental expenditure can go towards paying a mortgage.
It makes no sense ‘renting for life’ as there is nothing to get at the end. In the case of paying on a housing loan or even if a property is sold for less than its original cost, it works out far better. This is because the former owner still has capital in his possession.
I must say that I really liked one of the things that happened last year with the teachers, nurses and police. There were 18 teachers, 25 nurses and 17 police officers who received fast-track pre-qualification for loans for home construction.
Meanwhile, via the Turn-key Housing Initiative, 44 families of Regions Three and Four received two-bedroom houses, 112 coastal families benefitted under the home-improvement subsidies and 23 hinterland families under the hinterland pilot programme. These kinds of things must not be slighted as they reflect tremendous stability within our country. In fact, the recession which many do not want to face up to, has affected housing in many advanced countries. Guyana shows a reverse trend in both areas – no recession and a booming housing sector.
Yours truly,
Angelique Harris

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