Economist and Associate Professor at the Institute of Statistical, Social, and Economic Research (ISSER), Prof. Charles Ackah has blamed revenue mobilisation agencies for setting low achievable tax revenue targets. This he believes is a major cause of Ghana’s low Gross Domestic Product to-tax- ratio. The Ghana Revenue Authority and municipal assemblies hope to raise about ¢165 million from...
Operators in the real estate sector say most firms have reduced their cost of operations considerably in a bid to survive rising economic crisis in the country which has slowed developments. The situation, according to the firms, is such that most of them have taken into consideration costs arising from fuel price hikes and inflation which have impacted businesses negatively. “If we were spending...
In 1877, a strategic decision to relocate the capital of the Gold Coast to Accra set in motion a transformative journey. Over the years, Accra has evolved into a bustling commercial hub, embracing the allure of urban living. This surge in urbanisation has catalysed an expansive urban sprawl, a phenomenon that brings both challenges and promising prospects to the real estate sector. Accra’s meteoric...
Can't buy property in Accra? You're Not Alone The soaring prices of real estate properties in Accra have made it increasingly difficult for the average Ghanaian to become a homeowner. The city's real estate market has been experiencing a sharp increase in demand due to the country's economic growth and population boom, leading to a corresponding surge in property prices. This has made it difficult...
There has been a rejuvenated global interest into African real estate after two years of the Covid-19 pandemic. This is according to the Knight Frank Africa Horizons 2023-24 Report, which has a comprehensive analysis of Africa’s remarkable recovery following the prolonged aftermath of the pandemic. The renewed interest is demonstrated by the recent engagement and substantial investment...
For real estate business in Nigeria in particular and Africa in general, a new dawn is here as Adeniji Adele, the newly elected president of the International Real Estate Federation (FIABCI), Africa and Near East Region, has assured both the sector and the players. Adele, former president of FIABCI Nigeria, was elected president for the Africa and Near East Region at the recently concluded 73rd FIABCI...
The Chartered Institute of Realtors (CIR), a body of real estate professionals dedicated to providing high-quality training and learning opportunities for its members within the ever-changing real estate industry worldwide, is set to be launched in Ghana. The event will draw a large audience from different facets of society, from policymakers, international property developers, lawyers, arbitrators,...
Though the real estate sector is growing in Nigeria with significant growth to GDP, the growth does not represent the large size of the country’s market where demand and supply imbalance is huge due to challenges that include lack of good policies and coordinated leadership. For the sector to grow optimally and close the yawning gap in the market estimated at 20 million units, there is need for a...
Investment in real estate is believed to always be safe and profitable. But the current global economic downturn may question the conventional wisdom. Scepticism about investing in Nigerian and even the global housing industry could be driven by a sense of political uncertainty, technology trends and economic recession. Modern real estate development remains in its infancy in Nigeria, regardless of...
Arguably, every adult would like to have a piece of real estate, either for housing and accommodation, or investment purposes. Unfortunately, this wish almost always ends up as a mere dream.The reason for this is that real estate, for whatever purpose it is needed, is believed to be capital intensive and most people, including those with ‘can-do’ spirit run away from it because, in their mind, it is...