Real Estate Report on Ghana

 

Jumia House issued its first White Paper on the real estate industry last week, detailing the current situation prevailing in Ghana.

The White Paper contains interesting revelations such as the fact that an estimated 13% of Ghanaians own houses in Ghana.

The report also added that Ghana is one of five African countries with the largest Foreign Direct Investments on the continent. This cash inflow is expected to generate funding for the real estate sector, such as improving Ghana’s infrastructure and housing.

Co-founder of Jumia House, Paul-Philipp Herman, sought to give his impressions on this phenomenon despite the global financial crises.

“While the global recovery is well underway, its impact has been uneven. In some emerging market economies, growth has been downgraded from initial forecasts, in part, due to the weaker external demand from major players such as the US and China.

“The International Monetary Fund (IMF) is now forecasting average growth of 4.6 percent for emerging markets and developing countries in 2014, rising to 5.2 percent in 2015,” he stated.

Executive Secretary of GREDA, Sammy Amegayibor was also featured in the report. He touched on a number of issues such as the biggest opportunities in the property market as well as solutions for affordable housing in Ghana.

“In my opinion, public-private partnerships provide the best opportunities. The state has made it clear that they do not have funding, so these types of partnership seem like the best solution right now,” he opined.

Ghana has a housing deficit estimated at 1.7 million and a United Nations (UN) report earlier this year indicated that the nation needs 500,000 rooms annually to compensate this loss.

The report also contains Business Intelligence on 15 other countries from around the world.

You can view the entire report on Ghana from the link below.

house.jumia.com.gh.research/

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