If you’re looking to buy a piece of land within Cantoments, you should be prepared to pay more than GH¢1 million.
According to available data from online real estate market place, meqasa.com, lands within East Legon, Spintex and Kasoa are among the top five most expensive properties in Ghana currently.
When it comes to home acquisition, it estimates that 1 bedroom house is being sold at an average price of GH¢450,000 while a three bedroom house is going for GH¢742,000.
The data is based on activities on meqasa.com which had a traffic of more than 758,000 people as at the end of 2017. The data shows that a piece of land at East Legon costs GH¢1 million, with lands around Spintex road going for GH¢708,000. Interestingly, activities on the site point to an increase in the cost of land in Kasoa, with a piece being sold for GH¢125,000. The least expensive places to acquire land are Oyarifa, at GH¢55,000, Pokuase at GH¢27,000 and Dodowa at GH¢12,000 respectively.
When it comes to purchasing landed properties, activities on meqasa.com reveal that the average cost of a 2 bedroom apartment in Accra is GH¢357,622, whereas a three bedroom house has an average price of GH¢742,000. Any property with four or more rooms should not cost less than GH¢2.3 million.
In terms of rent, a 1 bedroom apartment is being rented at an average of GH¢1,266, 2 bedroom at GH¢2,710 and a three bedroom apartment at GH¢6,900 within Accra.
These costs are influenced by several factors including location, size, amenities and proximity to facilities such as malls and hospitals.
Ghana’s housing deficit is estimated to range between 1.7 and 2 million units. It is believed that the unregulated housing sector in the country which gives room to homeowners and landlords to set prices as suit them, is contributing to the widening housing deficit in Ghana.
The value of new developments advertised on meQassa.com in 2017 is estimated at $340 million; whereas the value of properties marked as sold rose from $227 million in 2016 to $362 million in 2017. This marks a 106% increase over the last year.
Source: Ghana/Starrfmonline.com/103.5FM
