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Coming up
Actor and Parliamentary Candidate, John Dumelo Highlights Concerns Over High Rent Costs.
Ghanaian Doctor Scammed of Nearly $50,000 in Land and Investment Scheme.
Housing Affordability in London Improves to 2014 Levels.
To our first story
Actor and parliamentary candidate for Ayawaso West electoral area, John Dumelo, has raised concerns about the exorbitant cost of rent in Ghana.
In a social media post, he expressed dismay over the practice of landlords demanding 2 to 3 years’ rent in advance, stating that it is burdensome for Ghanaians. Dumelo urged his followers to share their experiences with rent challenges in the country.
The actor’s comments shed light on the widespread issue of high rental costs in Ghana, where landlords often require tenants to pay multiple years’ rent upfront.
This practice poses a significant financial burden on individuals and families, making it difficult for many to secure decent housing.
The concerns raised by Dumelo reflect broader challenges in the housing sector, calling attention to the need for reforms to make accommodation more affordable for the Ghanaian population.
Away from that
A Ghanaian doctor residing in the USA has shared a distressing story of being scammed out of nearly $50,000 by a fraudster in Accra, Ghana.
The scam involved deceptive practices related to land purchases.
Despite promises and assurances, the doctor discovered that the documents provided for the land were fake, and the funds had been misappropriated.
The doctor is calling for justice, urging other potential victims to come forward and seeking public awareness to prevent similar scams.
The narrative sheds light on the vulnerability of individuals contributing to Ghana’s growth and emphasizes the broader consequences of fraudulent activities on the nation’s reputation and investment climate.
In a related development
Blessing Dosoo, an estate developer accused of defrauding a software engineer of GH¢830,000 and a vehicle in exchange for 24 plots of land, has been granted bail by the Accra Circuit Court.
The accused person faces three counts of fraudulent land transactions and has pleaded not guilty.
The court, presided over by Mr. Oheneba Kuffuor, approved the bail with five sureties, including two with immovable property.
The complainant, Amponsah Freduah, a software developer, resides in Ngleshie Amanfrom, Accra.
Blessing allegedly sold land that did not belong to him and failed to fulfill promises made to the complainant.
On the International Front
The London housing market is experiencing improved affordability, with average property prices now 13 times the average earnings in 2016.
Despite a 21% year-on-year increase in buyer demand and a 22% rise in the supply of homes for sale, house prices in London have seen a 1.1% annual decrease.
This reduction, coupled with rising earnings, has led to London’s housing affordability reaching its best levels since 2014.
However, challenges persist, including doubled mortgage rates since 2021, significantly higher than 2014 levels.
Sellers are adjusting to market conditions, with almost one in four in London and the South-East accepting a 10% discount on their asking price.
While there are positive signs of increased market activity, caution is advised for sellers, as buyers remain price-sensitive.
Source : Africa Home Building Magazine -Joycelyn Marigold & Diana Okyerebea
