Guyana delivers 35000 House Lots, nears 50000 goal with new scheme by 2025

Guyana: The Government of Guyana delivered over 35000 house lots across the country, providing housing, infrastructure and mortgage relief to thousands of Guyanese.

The government is committed to making housing more affordable through the subsidies, reduced interest rates, and increased access to new housing loans. 

Considerably, the Ministry of Housing and Water in Guyana in January made an announcement to open new housing schemes in several of the areas of the country; which include; Moleson Creek, Corentyne and Berbice.

Such an announcement was part of the authority’s target of allocating 50,000 house lots by 2025. With the made announcement, by delivering the significant count of over 35000 houses from the total of 50,000. The Government has kept the promise.

President- Irfaan Ali on this outlined that to support the housing schemes, the authorities have built 440 km new roads, 250 km new water transmission mains, and more than 2200 km of electricity transmission lines.

This effort represents a concerted effort to provide needed housing, improve service delivery and provide relief to thousands of Guyanese individuals on rent and families

By subsidizing construction and development costs, the government has effectively provided the support to the citizens by reducing the financial burden on potential homeowners.

Additionally, implemented measures to reduce interest rates on housing loans reflects making the country a better place to live in for the residents by reducing the financial burden associated with home ownership.. This as well will improvise the state of the country . 

Along with the subsidies and interest rate cuts, the government has prioritized increasing access to new housing loans. Such an initiative implemented by the authorities would definitely bring happiness to Guyanese individuals and families by availing them with the housing opportunity.

This Governmental approach ensures that housing opportunities are extended to broader segments of society, promoting social equity and economic stability.