GREDA urges pricing discipline as cedi strengthens against dollar

The Ghana Real Estate Developers Association (GREDA) has made an appeal. They are calling on building material suppliers to act quickly. GREDA wants to address unjustified pricing practices in construction.

On May 22, 2025, GREDA issued a press statement. They urged suppliers of essential materials like cement and iron rods to stop raising prices. These increases are based on inflated exchange rates. Instead, they should reflect the recent strengthening of the Ghana Cedi against the US dollar.

GREDA noted that despite the local currency's appreciation, key construction material prices remain high. They believe this is due to suppliers using exaggerated exchange rate assumptions. This trend distorts the market and makes housing less affordable.

The association stated that these practices threaten industry sustainability for average Ghanaians. They called on all suppliers to align their prices with actual market rates and real input costs.

GREDA also urged the government and regulatory bodies to enforce pricing discipline. Transparency across the supply chain is essential for fair pricing. The association committed to responsible pricing based on real economic indicators for long-term stability in real estate and construction sectors.