Latest update August 6th, 2026 12:35 AM
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Govt. considers tax incentives for homeowners
Government says that it is considering tax incentives for home owners who use locally produced materials.
Addressing the close-out ceremony of the Government of Guyana/Inter-American
Government is considering tax incentives for homeowners who use locally produced materials for construction.
Development Bank (GOG/IDB) Second Low Income Settlement Programme last week, Minister of Communities, Ronald Bulkan, said also that as part of making the process easier, Government is working with financial service providers to facilitate affordable loans to home builders.
According to a Government statement, Bulkan noted that focus will also be on ensuring that basic infrastructure – electricity, roads, water and drainage – are in place, as house lots are issued.
In this way, communities will develop in tandem with individual dwellings, he explained.
Government will also standardise building and safety codes, support volunteerism to help those in need of assistance to build homes, and build starter homes across Guyana, for those in need of transitioning from rented homes to home ownership.
He added that the Ministry will be concentrating on establishing building zones within communities, to allow for comfort and easy access to industries and commercial establishment, as the administration works towards the realisation of its housing policy.
This is to also ensure that home builders and house lot applicants get value for their money, Minister of Communities Ronald Bulkan said.
Since taking up office, the new administration has announced plans to build communities instead of housing schemes and industrial sites.
The housing sector, with thousands of house lots issued over the last decade, has been the major driving factor for the economy.
However, with little lands remaining in the East Demerara areas and with 25,000 applications on file, the new administration has been looking at other areas.
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