The Managing Director of the Liberia Housing Authority, said the sector faces a severe affordability crisis with high construction cost, limited finance and poverty.
Madam Florence Kateka Gbeegboe said, the situation has made decent housing unattainable for citizens.
Madam Gbeegboe said, the lack of funding and comprehensive policies to address such situation remains a significant bottleneck to improve housing facilities.
As such, Madam Gbeegboe said, the urban areas like Monrovia are experiencing serious over-crowdedness with population explosion.
Madam Gbeegboe made the disclosure on Tuesday, October 7, at Information Ministry regular press briefing in Monrovia.
Madam Geegboe said the institution does not have a land bank, meaning reserved land that would be developed, “because all of its land has depleted, adding no mortgage banks, financing and refinancing institution that would assist in the process.”
She said the Authority needs 200,000 new dwelling units to drastically reduce the current over-crowding, and 163,035 to withstand the population growth, while 4,891 housing units are also needed to replace old and damaged structures.
Madam Geegboe said, to address this situation, it has to be intentional by establishing a National House Trust Fund, and Civil Access Act, and a public private partnership, which will stimulate government to ensure an amiable environment for investment climate in housing.
She called on the government also need to establish an affordable housing scheme to make housing accessible through the reopening of the a National Housing and Agriculture Bank.
Madam Geegboe noted that after civil servants are retired there can be no affordable housing for them. Henceforth, the Authority needs a direct government investment approach to address the appalling condition they faced when it comes to housing.
Meanwhile, Madam Gbeegboe, has called on government to engage in real estate development, which will generate revenue.
Madam Geegboe said the country can rise to the occasion by copying the example of other countries, but said: “this requires concerted and collective efforts through hard work and commitment with political will to robustly drive the sector.”
However, she said, the country needs 512,000 urban housing units by 2030 to address the unfavorable housing situation.