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Trasacco launches Akaya Estate, offering modern homes in Ghana’s growing real estate market.
Ghana’s furniture market projected to reach $431.30 million in 2024
Dubai’s residential market on a remarkable upward trajectory, fuelled by the global surge in
demand for luxury real estate post-pandemic.
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The global interior design market is expected to grow significantly, from $130.5 billion in 2022
to $211.29 billion by 2032.
In Ghana, the furniture market is projected to reach $431.30 million in 2024, with an annual
growth rate of 2.04% from 2024 to 2029.
Local experts like Pamela Michelle Aboagye, founder of Ms. Atkinson Interiors, believe Ghana
is well-positioned to lead in luxury interiors, thanks to its talent and craftsmanship. Mawuli Nii
Mensah, CEO of FBM Marble & Granite, emphasizes that opulent home design should be
accessible to all, not just the affluent.
However, the industry faces challenges due to economic downturns affecting profitability and
sales, along with increased competition pressuring prices and profit margins. Strategies for
success include collaborating with architects and developers to integrate design early in projects
and educating clients on the long-term value and durability of luxury products.
Looking ahead, continued growth is expected in 2024, driven by foreign investment and demand
for high-standard properties, spurred by initiatives like The Year of Return.
Ghana currently faces a housing deficit of 1.8 million units, with 60% of the urban population
needing assistance to secure adequate housing.
In response, sustainable developments like those led by Kofi Anku at Pokuase Heights are
emerging, showcasing housing projects with features such as solar power and biodigesters.
These developments offer cost-effective housing options, with two-bedroom bungalows starting
at $42,000 and three-bedroom shell homes at $72,000, offering significant value compared to
average home prices in the U.S. ($435,000) and U.K. ($375,000).
Opportunities for real estate entrepreneurs abound, as they explore innovative solutions to meet
the demand for affordable housing.
Increased foreign investment is also being driven by diaspora interest and government initiatives.
Ghana’s real estate market is evolving, with an increasing demand for modern family homes in
master-planned estates that offer secure community living.
Data indicates that properties in well-managed estates tend to appreciate over time, making them
attractive for homeowners and investors seeking to create capital value.
To meet this demand, Trasacco Properties has launched Akaya by Trasacco, an exclusive master-
planned estate in Pantang-Abokobi.
The development offers two, three, and four-bedroom homes featuring modern architecture,
stylish interiors, and functional layouts, creating an inspiring living environment.
In International News
Dubai’s residential market is on a remarkable upward trajectory, fuelled by the global surge in
demand for luxury real estate post-pandemic.
According to the latest data from Square Yards, the Dubai Land Department registered a
staggering 32,109 transactions in the April-June 2024 period, marking a 32% increase compared
to the same period last year. The total sales value reached AED 63 billion, reflecting a robust
23% growth year-on-year.
The growth is not just annual; the market has shown impressive sequential gains from January-
March 2024, with the number of transactions and sales value rising by 17% each. This double-
digit growth indicates sustained upward momentum in the market.
Source : Joycelyn Marigold – African Home Building Magazine
