No Ghanaian senior officer or manager cannot afford these on their salary. The president earns GHC10,000 a month.
No Ghanaian senior officer or manager cannot afford these on their salary. The president earns GHC10,000 a month.
Tacitus Of Rome 10 years ago
This information is what those of us in the diaspora wanted to know to probably come and invest or get some mortgage.
This is the sort of information we need not those that detract and divide us as people.
This information is what those of us in the diaspora wanted to know to probably come and invest or get some mortgage.
This is the sort of information we need not those that detract and divide us as people.
Ghanaman 10 years ago
Where would you get money to buy the $1 million homes when you are doing walatu walasa abroad?
Where would you get money to buy the $1 million homes when you are doing walatu walasa abroad?
Tacitus Of Rome 10 years ago
One million dollars is nothing to me even with my purported 'walatu walasa' job.
And you deserve no right to call me a fool unless you are dung of a Rat.Mortgage is not down right cash to purchase a house anyone who has a ... read full comment
One million dollars is nothing to me even with my purported 'walatu walasa' job.
And you deserve no right to call me a fool unless you are dung of a Rat.Mortgage is not down right cash to purchase a house anyone who has a decent job can get a mortgage for those houses. You see your foolishness is clouded in ministers stealing money to buy houses, are one of the foty thieves of the NPP?
Kwame Arhin 10 years ago
The appalling sanitation,inadequate electricity and water in Accra must be addressed immediately.No investor will put up buildings in a filthy environment, and lack of water and electricity.
The appalling sanitation,inadequate electricity and water in Accra must be addressed immediately.No investor will put up buildings in a filthy environment, and lack of water and electricity.
Connie 10 years ago
Thank u kwame Arhin, my thought exactly. All these luxury buildings in the midst of filth, open gutters, people defecating due to inadequate toilets facilities. Add to these headaches are the constant water & power outages. T ... read full comment
Thank u kwame Arhin, my thought exactly. All these luxury buildings in the midst of filth, open gutters, people defecating due to inadequate toilets facilities. Add to these headaches are the constant water & power outages. Tackle these problems first if you're trying to woe investors.
Tomi 10 years ago
Atsu, a very informative and well written article. My questions:
1. You admitted over concentrating on the capital and asking us to extrapolate to the regional capitals. But there may be genuine and huge differences betwee ... read full comment
Atsu, a very informative and well written article. My questions:
1. You admitted over concentrating on the capital and asking us to extrapolate to the regional capitals. But there may be genuine and huge differences between Accra and the rest. Don't you think that foreign investors are over concentrating on Accra?
2. You only talked about what the huge real estate companies are doing in Ghana. But much residential structures are put up by individuals. Ghanaians are not moving into flats. They're building their own structures. You said nothing about this.
3. Do you think the housing deficit of 1.7 million units is correct? Is there no underestimation or this is just the figure for Accra? I still see Ghanaians living too tight and looking for a place to put their heads - much more than 1.7 mill will suggest.
But a good article and thanks for it.
Joe 10 years ago
Great article Mr. Atsu. You have shown the path to take to move Ghana forward. Keep it up!
Great article Mr. Atsu. You have shown the path to take to move Ghana forward. Keep it up!
Katanka 10 years ago
How can workers afford these essorbitant prices?Buy buying such Houses means Corruption and stealing is going rase.As Mr.Arhin writes,water,sewage electicity and roads leading to such Buildings will
make buying such mansion ... read full comment
How can workers afford these essorbitant prices?Buy buying such Houses means Corruption and stealing is going rase.As Mr.Arhin writes,water,sewage electicity and roads leading to such Buildings will
make buying such mansion unrentabel.
Abeeku Mensah 10 years ago
I am not surprised that, Peter Tsikata, who dabbles in the real estate world is as clueless as most Ghanaians who talk about money without historical data. If Peter Tsikata is an advocate for foreign direct investment inflows ... read full comment
I am not surprised that, Peter Tsikata, who dabbles in the real estate world is as clueless as most Ghanaians who talk about money without historical data. If Peter Tsikata is an advocate for foreign direct investment inflows into Ghana then what he need to do as a Ghanaian is ask our leaders what happened to a nation that can boast of people like the EO group sitting on a 3% lifetime reward of Ghana's oil revenue and or the Kufours of the world who are buying hotels and other structures without end in sight.
Yes Ghana is ripe for investment in the housing market but the living standard of Ghanaians must play a role in the calculus or at least take priority over the interest of investors whose only aim is to make money irrespective of who lives or fades into the dust. In each of the places you've listed, Hawaii, Florida and others, the indigenes have been priced out of their own towns and communities and most can no longer afford any of the modern living conditions you talk about. On the average most American make about US$1million in their life time. What do you think the average Ghanaian, without political connection, but educated (secondary and first degree holder) makes in a lifetime? The largest employer in Ghana is the Ghana government for starters. And on the average a Ghanaian civil servant who is honest and lives with moral compass free of bribery and corrupt practices as you Mr. Peter Tsikata and others partakes in, do receive a monthly wage of about US$700 in the best of circumstance. Except for the women in government who sleep with managers and bosses to get extra cash and undeserved pay increases, please tell me how are these workers supposed to come up with US$20,000 down payment and or the rest of US$80,000 in 6-month immediately following the completion of their dream home of about US$100,000?
Yes you would like to see a no limit to the housing boom in Ghana but you seem to be the least worried about the potential to shut out majority of Ghanaians who can neither afford the home prices or the inflated and unjustified rental price increases that will be brought on by the investors seeking profits above human interest. Oh yes how I know some will talk about the essence of business but will do so in a vacuum and without history on their side. Any society that looks to the acquisition of wealth without a soul is a society that will fail because as we know eventually the money runs out; check the city of Detroit, in the state of Michigan in the USA and one is bound to understand the importance of doing business is one of sustainability in the long run and not the short term.
You must look to the universities in Ghana to come up with structures that can be built cheaply and with the use of local materials. Then you, Mr. Peter Tsikata and those in your field must look to banding together to pull your resources together to start in land development that looks to a minimum of 15 year mortgage plans for most of Ghana’s workers. Up to now every bank in Ghana, from Unibank to all through HSBC to others look to making quick money that can only be sustained by Ghana rich thieves and political thieves who have bankrupted the morals of Ghana by making money by any foul means .
Akua Mansa 10 years ago
Abeeku you could not have been right. This mirage of a real estate boom sidelines most Ghanaians
Only the thieves in government and the foreigners can afford it
The bubble will burst someday. These prices of housed is ... read full comment
Abeeku you could not have been right. This mirage of a real estate boom sidelines most Ghanaians
Only the thieves in government and the foreigners can afford it
The bubble will burst someday. These prices of housed is not sustainable for Ghana
ABU 10 years ago
With this mentality Ghana is stagnating whilst other countries less endowed than Ghana are making it.Even with present wholy owned Ghanaian created disorderliness does every Ghanaian own a house?.We need improved decent housi ... read full comment
With this mentality Ghana is stagnating whilst other countries less endowed than Ghana are making it.Even with present wholy owned Ghanaian created disorderliness does every Ghanaian own a house?.We need improved decent housing system to call homes for convenient human habitation.Most of the structures people call homes in Ghana are shanty structures unbefitting to accomodate human life.
Peter Tsikata 10 years ago
Seriously, I doubt if Mr. Abeeku Mensah read carefully through the article I have written. I wonder what is wrong with appealing to the investor community to come invest in a country with a 1.7 million units housing deficit! ... read full comment
Seriously, I doubt if Mr. Abeeku Mensah read carefully through the article I have written. I wonder what is wrong with appealing to the investor community to come invest in a country with a 1.7 million units housing deficit! The government of Ghana even set up an outfit called GHANA INVESTMENT PROMOTION CENTER whose job is to attract investors into Ghana. So what is so wrong when a real estate professional takes his time to produce facts to attract the investor community into our beloved country. It is fools like this guy who will be up in arms with an article like this. This fool who has never met me anywhere has the audacity to label me as partaking in bribery and corrupt practices in Ghana. How dare you? If you have all the answers to all of Ghana's problems, come down from your high horse and solve them! Stop insulting fellow citizens who are also doing their best to help our beloved country move forward.
ABU 10 years ago
Ignore this retarded nonentity in his world,Ghana is moving forward,we ignore this fact to our detriment and peril.Investors will undoubtedly invade Ghana with their investments to create employments for the locals that will ... read full comment
Ignore this retarded nonentity in his world,Ghana is moving forward,we ignore this fact to our detriment and peril.Investors will undoubtedly invade Ghana with their investments to create employments for the locals that will afford incomes to acquire some of the properties,Ghanaians will never be left without benefiting from the windfall.Ghanaian artisans will play leading roles in the building industry paving ways to acquiring properties.
Asiwome 10 years ago
Those of us who have studied life in other nations know what is happening. We should listen to people like him.
Those of us who have studied life in other nations know what is happening. We should listen to people like him.
ABU 10 years ago
Some people are forever cynic,with this mentality we will go nowhere as a people and nation.Tsikata has the right to even dream,the world is moving ,refuse to move along and get extincted
Some people are forever cynic,with this mentality we will go nowhere as a people and nation.Tsikata has the right to even dream,the world is moving ,refuse to move along and get extincted
ABU 10 years ago
Is the Ghanaian artisan positioned to partake in this industry,and where and how?.A whole brigade of highly qualified professionals in the diaspora of Ghanaian origin in this sector is asking what can they do and are they wel ... read full comment
Is the Ghanaian artisan positioned to partake in this industry,and where and how?.A whole brigade of highly qualified professionals in the diaspora of Ghanaian origin in this sector is asking what can they do and are they welcome?
Attah 10 years ago
It is recommendable to have investors coming to Ghana to do business in the real estate industry.But our Government must stop all those who come to build for the upper clsss citizens who live on state coffers.It is unbelievab ... read full comment
It is recommendable to have investors coming to Ghana to do business in the real estate industry.But our Government must stop all those who come to build for the upper clsss citizens who live on state coffers.It is unbelievable to buy a three bed room apartment in Africa- Ghana for 600.000 dollars whilst fellow citizens can't even afford a house selling at 25.000 dollars. Such a descrepancy is unacceptable in Africa.Those do-nothing Governments who accept such business in Africa must think twice.
No Ghanaian senior officer or manager cannot afford these on their salary. The president earns GHC10,000 a month.
This information is what those of us in the diaspora wanted to know to probably come and invest or get some mortgage.
This is the sort of information we need not those that detract and divide us as people.
Where would you get money to buy the $1 million homes when you are doing walatu walasa abroad?
One million dollars is nothing to me even with my purported 'walatu walasa' job.
And you deserve no right to call me a fool unless you are dung of a Rat.Mortgage is not down right cash to purchase a house anyone who has a ...
read full comment
The appalling sanitation,inadequate electricity and water in Accra must be addressed immediately.No investor will put up buildings in a filthy environment, and lack of water and electricity.
Thank u kwame Arhin, my thought exactly. All these luxury buildings in the midst of filth, open gutters, people defecating due to inadequate toilets facilities. Add to these headaches are the constant water & power outages. T ...
read full comment
Atsu, a very informative and well written article. My questions:
1. You admitted over concentrating on the capital and asking us to extrapolate to the regional capitals. But there may be genuine and huge differences betwee ...
read full comment
Great article Mr. Atsu. You have shown the path to take to move Ghana forward. Keep it up!
How can workers afford these essorbitant prices?Buy buying such Houses means Corruption and stealing is going rase.As Mr.Arhin writes,water,sewage electicity and roads leading to such Buildings will
make buying such mansion ...
read full comment
I am not surprised that, Peter Tsikata, who dabbles in the real estate world is as clueless as most Ghanaians who talk about money without historical data. If Peter Tsikata is an advocate for foreign direct investment inflows ...
read full comment
Abeeku you could not have been right. This mirage of a real estate boom sidelines most Ghanaians
Only the thieves in government and the foreigners can afford it
The bubble will burst someday. These prices of housed is ...
read full comment
With this mentality Ghana is stagnating whilst other countries less endowed than Ghana are making it.Even with present wholy owned Ghanaian created disorderliness does every Ghanaian own a house?.We need improved decent housi ...
read full comment
Seriously, I doubt if Mr. Abeeku Mensah read carefully through the article I have written. I wonder what is wrong with appealing to the investor community to come invest in a country with a 1.7 million units housing deficit! ...
read full comment
Ignore this retarded nonentity in his world,Ghana is moving forward,we ignore this fact to our detriment and peril.Investors will undoubtedly invade Ghana with their investments to create employments for the locals that will ...
read full comment
Those of us who have studied life in other nations know what is happening. We should listen to people like him.
Some people are forever cynic,with this mentality we will go nowhere as a people and nation.Tsikata has the right to even dream,the world is moving ,refuse to move along and get extincted
Is the Ghanaian artisan positioned to partake in this industry,and where and how?.A whole brigade of highly qualified professionals in the diaspora of Ghanaian origin in this sector is asking what can they do and are they wel ...
read full comment
It is recommendable to have investors coming to Ghana to do business in the real estate industry.But our Government must stop all those who come to build for the upper clsss citizens who live on state coffers.It is unbelievab ...
read full comment