Ghana Real Estate Glossary vol. 6

real estate terminologies

In light of last week’s post on Ghana Lands Commission, Jumia House presents you with some glossary terms that offer explanations into real estate jargon.

Cadastral Plan:

This is an official register showing details of ownership, tenure, coordinates, boundaries and value of real property in an area.  A registered and licensed surveyor conducts it

In Ghana all landowners are required to have appropriate cadastral/site plan to show ownership and help prevent disputes over land as advised by the Ghana Lands Commission.

Housing-Deficit:

A housing-deficit can be explained as a shortage or lack in the required number of houses needed to accommodate the population of an area particularly in the field of affordable housing.  Ghana is currently suffering a housing-deficit at an estimate of about 1.7 million units.

House-Hunting:

The process of searching for a house to buy, rent or live.  This can be done with the help of appropriate real estate agents, individually through real estate portals or self-searches. This process can be challenging and requires proper meticulousness.

Home-Office:

A small space in a house, which a person uses for official or business duties.  This is usually set up in a garage or a room in the house. In Ghana it is vital to seek appropriate approval and permission from the town-planning or appropriate district assembly to make changes or run a home-office.

Interior Design:

This is the art of coordinating decorative essentials of the inside of a real estate property such as a house, apartment, school, office, museum, etc.  This involves managing space, carefully choosing colors, furniture and other related materials to appropriately complement the room or place.

Property/Real Estate Development:

This can be explained as the process of investing in real estate by people or corporations. Various activities go into this such as purchase or financing of property, renovating or re-lease of bought property. Some property developers in Ghana are the Manet Group, Whitewall Properties, Devtraco Limited, Trasacco Group, etc.

Self-Contained Accommodation:

These are accommodation facilities that are whole and independent and do not require or resources from outside. Meaning the said accommodation has its own facilities and the tenant does not have to share bathrooms or kitchens with neighboring tenants.

Stool Lands:

In Ghana, these are lands belonging to communities and vested in the appropriate stool on behalf of and in trust for the subjects of the stool in accordance with customary law and usage.  A public body known as the ‘Office of the Administrator of Stool Lands’ administers this while Article 267 of the Ghanaian constitution governs it.

References:

Ghana Lands Commission

Daily Graphic Online (Ghana)

Dictionary.com

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