Here Are the Headlines for Today’s Property News
Controversy Surrounds $5 Million Contract Awarded After Ghana’s 2024 Election
Kensington Heights Set to Redefine Luxury Living in Kumasi
Toronto vs. Vancouver: The Battle for Canada’s Priciest Real Estate Market in 2025
A GhanaWeb report has revealed that the Akufo-Addo-led NPP government awarded a $5 million contract to Joberg Ghana Limited for constructing apartments in Cantonments just 12 days after losing the 2024 elections.
The contract, signed by Rev. Stephen Yaw Osei, Chief Director of the Ministry of Works and Housing, mandates completion within 18 months and required a 40% performance bond.
The Transition Team of Presidentt John Mahama has raised concerns over alleged irregular activities during the transition, including plans to disburse GH₵240 million for work with the Electricity Company of Ghana (ECG) and the recruitment of NPP loyalists into key institutions like the GRA and the Bank of Ghana. Transition Team spokesperson Felix Kwakye Ofosu warned that any irregular or unlawful actions by the outgoing government would face accountability under the new NDC administration.
Toronto is poised to potentially surpass Vancouver as Canada’s most expensive real estate market in 2025. According to Royal LePage President Phil Soper, while home prices in both cities are currently close, Toronto’s housing market is expected to grow faster. In November 2024, Vancouver’s average home price was $1,172,100 (down 0.9% year-over-year), while Toronto’s was $1,106,050 (up 2.6%).
Detached homes in Toronto are predicted to lead the price growth with a 6% increase, while condos remain sluggish due to oversupply. Both Soper and Cameron Forbes of REMAX agree that the condo market will recover slowly, with prices largely stagnant in 2025. Forbes predicts Vancouver’s restrained land availability will maintain its dominance as the priciest market.
New federal mortgage rules, including a raised insured mortgage price cap and extended amortization for first-time buyers, are expected to boost demand. However, experts advise sellers to be patient as market conditions normalize, with average home sales taking longer compared to the past decade’s rapid turnover.
HDG Homes, a premier real estate and investment management company, has partnered with Turkish construction firm Miller Holding to develop the Kensington Heights luxury apartments and penthouses in Kumasi, opposite the Prempeh I International Airport. This 15-storey development includes a range of residential options, such as suites, one-, two-, and three-bedroom apartments, sky suites, and penthouses, all designed to offer modern living spaces with 360-degree views of the airport and city.
The project aims to redefine the living experience in Kumasi, with amenities like rooftop gardens, swimming pools, gyms, yoga centres, business lounges, kids’ playgrounds, cafes, and backup utilities. CEO Stephen Owusu emphasized the development’s potential to accelerate economic growth in the region and improve the quality of life for residents. Kensington Heights is part of the larger Airport City Kumasi project, which will include luxury homes, hotels, shopping centres, restaurants, and more. Owusu encouraged investors to diversify into the growing Kumasi market.
Building on the success of Phase One, Phase Two of the Prestige project introduces La Casa Grande, a new chapter that elevates the appeal of this sought-after development. Designed for modern living, La Casa Grande offers an exceptional lifestyle that blends luxury with practicality. This phase features a thoughtfully curated selection of apartments in various configurations, catering to diverse preferences and lifestyles. Whether you’re a professional seeking a stylish living space or a family in need of room to grow, La Casa Grande has something for everyone. Each unit is crafted with premium finishes, combining aesthetic sophistication with the comfort expected by today’s discerning homeowners.
An exciting highlight of La Casa Grande is the exclusive three-week priority window granted to Phase One buyers, allowing them to secure their preferred units before sales open to the public. This special privilege acknowledges the trust and foresight of early investors who recognized the value of the Prestige project and their commitment to its vision.
Source : Property Express News – Joycelyn Marigold
