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Housing Minister: We Are 12K Homes Short of Where We Should Be

NASSAU, BAHAMAS – The housing minister gets frank: “In our islands and certainly in New Providence, there’s no such thing as affordable housing.”

Published

3 hours ago

October 18, 2024

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Keith Bell – Minister, Housing and Urban Renewal
“Quite frankly, in our islands and certainly in New Providence, there’s no such thing as affordable housing.”

Speaking at the Exuma Business Outlook, Bell discussed the difficulties in making homeownership attainable as the cost of living continues to rise.

He noted that government efforts to build affordable homes have fallen short.

Keith Bell – Minister, Housing and Urban Renewal
“A study back then indicated we should be building 2,800 homes a year. So far, we are over 12,000 homes short. Each year, the backlog grows because there were years we didn’t build any homes.”

The high cost of construction remains one of the main challenges.

Keith Bell – Minister, Housing and Urban Renewal
“The cost of materials and labor has increased. Now we are looking to improve how we build.”

Despite challenges, new subdivisions like Renaissance, Pinecrest, Adastra, and Ocean Hole have been launched.