$112.6B allocated to accelerate housing infrastructure this year

The government has earmarked $112.6 billion to drive its ambitious housing programme in 2025, reinforcing its commitment to providing sustainable housing for all Guyanese.

Over the years, 85 new and existing housing areas have been developed across the country, including Balthyock, Amelia’s Ward, Charity, Yarrowkabra, and Palmyra.

During that period, more than 40,000 house lots have been distributed to Guyanese from various income brackets, empowering families and fostering homeownership.

Over 2,000 houses have been constructed, spanning categories such as low, moderate, and middle-income, as well as options for young professionals and core homes.

To reduce the cost of homeownership, the government has introduced several initiatives, including the Steel and Cement Subsidy Programme.

The mortgage ceiling has been raised from $8 million to $20 million, while housing loans at the National Building Society (NBS) have increased from $12 million to $20 million, making financing more accessible for prospective homeowners.

“These and other initiatives will help to bring homeownership within the reach of every single Guyanese family,” Senior Minister in the Office of the President with responsibility for Finance and Public Service, Dr Ashni Singh disclosed this during Budget 2025 presentation at the National Assembly, on Friday.

Last year, $78.5 billion was expended into the housing for the development of new and housing schemes. Budget 2025 is themed ‘A Secure, Prosperous and Sustainable Guyana.’