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Ghana’s construction sector estimated between US$9 billion to US$13.2 billion
Public still struggle to access affordable housing in Ghana
In International News
Home sellers and buyers in Sydney’s east have good reason to be optimistic this spring
Lands Commission gets New Executive Secretary
After three decades of devoted service, Surv. James Ebo Dadson, the Executive Secretary of the Lands Commission, has formally retired, passing the torch to Mr. Benjamin Arthur, who now assumes the role of the new Executive Secretary.
In a concise handover , Mr, Benito Owusu-Bio, the Deputy Minister for Lands and Forestry, represented the sector’s Minister, Samuel A Jinapor. Owusu-Bio praised the remarkable achievements of the departing Executive Secretary.
He offered heartfelt accolades to Surv. Dadson for his contributions in propelling land administration within the country.
He also revealed that Mr. Dadson would persist in his capacity as a Consultant at the Ministry, aiding in the transformation of the national land system.
Ghana’s construction sector estimated between US$9 billion to US$13.2 billion
Ghana’s construction sector commands a market scope estimated between US$9 billion to US$13.2 billion, constituting a noteworthy 7.2% of the nation’s GDP.
Renowned for its favorable investment climate and political stability, Ghana presents a compelling investment landscape.
Experts say the country has gained prominence as a hub for opportunities, underscored by its business-friendly environment. Notably, governmental commitment to infrastructure advancement has fostered rapid expansion within the construction domain, unlocking avenues for prospective investors and industry players.
Prominent initiatives like the “One District, One Factory” program and the “Agenda 111” hospitals project, strategically crafted by the Ghanaian government, have not only magnetized domestic but also international investors, culminating in the rise of numerous construction enterprises.
Ghana’s construction sphere extends invitations across commercial, residential, industrial, and infrastructure development arenas.
Public facing challenges in accessing affordable housing
A recent report from Equal Times by Delali Adogla-Bessa sheds light on a concerning trend—ordinary working people in Accra.
Ghanaians are still facing increasing challenges in finding affordable housing. The rising cost of living in the city is making it difficult for many to find suitable accommodations, pushing them into inadequate living conditions.
With stagnant wages and mounting family expenses, many individuals are finding it impossible to keep up with the escalating living costs in Accra.
As a result, many individuals are being forced to make tough choices, including leaving their rented apartments or sacrificing their current jobs to find more affordable housing options.
In some cases, this has led to families residing in subpar dwellings, such as small makeshift kiosks in informal settlements. These living spaces lack essential amenities, including proper sanitation facilities and basic utilities.
The report underscores the urgent need for comprehensive measures to address the growing affordable housing crisis in Accra.
It highlights the broader struggle faced by working-class individuals who are being priced out of suitable living spaces and pushed into inadequate accommodations.
In International News
Home sellers and buyers in Sydney’s east have good reason to be optimistic this spring.The back-to-back interest rate hikes, so prevalent this time last year, have stopped.And, says PropTrack economist Angus Moore, property prices are growing across Sydney.
According to him,“this time last year, prices were falling pretty quickly and they are seeing fairly solid conditions broadly.
He added that Auction clearance rates have held pretty steady over winter, certainly better than last year, homes are selling reasonably quickly, however not as quickly as they were in spring 2021 but faster than they were pre-pandemic.
About 65 per cent of homes were sold at auction over winter; the clearance rates were in the 50s or below this time last year.
Property Express News – Diana Okyerebe and Joycelyn Marigold