Almost 2,000 Young Professional Homes completed, 1,500 more by first quarter of 2025
During a Facebook livestream on Sunday, January 12, President Dr. Irfaan Ali stated that nearly 2,000 homes under the Young Professional Homes Programme had been completed, with an additional 1,500 set for completion by the first quarter of 2025.
The Head of State, during the livestream, pointed to the government’s commitment to empowering young professionals through home ownership.
“This is what we are delivering every single day to the people of our country,” the Head of State declared. Underlining the progress in Guyana’s housing sector, President Ali highlighted the government’s significant investment of over $244 billion in the past four years, revitalising a sector he described as “practically dead” under the previous administration.
He noted that since the People’s Progressive Party Civic (PPP/C) took office, over 41,000 house lots have been allocated across the country, and 26 informal settlements have been regularised, benefiting more than 4,200 residents.
He noted that these allocations and regularisation resulted in residents owning titles and transports, allowing them access to loans and opportunities to improve their living conditions and start businesses.
“This is how you empower people—by creating the mechanisms and ecosystem to make them and their families more viable,” the President said.
The government has also implemented measures to make homeownership more accessible. One notable policy is the increase in the mortgage interest relief ceiling from $15 million to $30 million, which has returned more than $2.4 billion to citizens by the end of 2023.
“This money goes directly back into the pockets of ordinary people, helping them to own their own homes,” President Ali emphasised. Dr. Ali also highlighted programmes aimed at other vulnerable groups, such as the Homestead for Single Mothers, which builds 500 homes while offering economic opportunities to enhance disposable income and provide sustainable revenue streams for mortgage repayment.
“These programmes empower people, improve their net worth, and give them value,” the President said, adding that the government’s efforts are rooted in ensuring all citizens have opportunities to thrive.
