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Ghana’s Real Estate Among Africa’s Least Attractive in 2023
Land owners urged to register their Lands
Saudi Arabia to hold The Future of Real Estate Forum 2024
Land owners urged to register their lands with the Lands Commission
Ms. Rejoice Obodai, the founder of Prime Radar Realty in Accra, has encouraged landowners to register their lands with the Lands Commission.
In an exclusive interview with African Home Building News in Accra, she emphasized the benefits of digitizing land documentation, making it both seamless and accessible .
She also encouraged the public to familiarize themselves with the rules outlined in the updated land act.
Stressing the significance of working with professionals in the documentation process, Ms. Obodai cautioned against cutting corners to prevent the issuance of falsified documents.
Highlighting the imperative nature of proper land documentation, Prime Radar Realty has successfully assisted over 50 landowners in documenting their properties, extending its services to clients in the Eastern Region.
Moving on to other stories
Riverine Communities in the Kpando Municipality, affected by the floods caused by the Akosombo Dam, are seeking assistance to rebuild homes lost in the disaster.
The prolonged flooding, impacting hundreds of homes along the lake, displaced approximately 40,000 people within the upper and lower basins of the world’s largest manmade lake.
Mr. Enoch Kwame, a Unit Committee Member of the Dafor Tornu Community, shared the challenges during a donation event by a US-based nurse and Kpando native. He highlighted that around 40 homes had collapsed, leaving hundreds homeless.
He called on the government and stakeholders to provide support for the restoration of homes and livelihoods.
A report on Estate Intel indicates that the real estate sector in Africa, particularly in Ghana, is contending with a range of challenges amidst macroeconomic and political uncertainties.
These challenges, including high inflation, currency depreciation, and elevated construction costs, have reshaped the landscape of real estate investment attractiveness.
Ghana and Angola ranked as the least real estate attractive countries for 2023.
Ghana’s performance has been impacted by its heightened inflation estimated at 35.2% effectively ranking as the second highest after Egypt, lower GDP growth rate and above average construction costs.
In response to local currency depreciation, the real estate market in Ghana is actively exploring alternative financing methods.
This shift is crucial for mitigating risks associated with traditional financing approaches and ensuring resilience in the face of economic uncertainties.
In International News
Saudi real estate will be under the spotlight at a major event coming to Riyadh this month.The Future of Real Estate Forum 2024 is scheduled in Riyadh from January 22 to 24, 2024
The forum will include multiple activities and sessions to discuss various strategic axes related to the real estate system at both local and global levels.
More than 300 speakers from 85 countries will participate in the forum’s workshops, dialogue, and discussion sessions.
The forum has carefully prepared its strategic axes to enrich discussions and dialogues through 25 workshops and 30 sessions.
The real estate exhibition will be held on the forum’s sidelines and will highlight the role of local and international entities participating in the real estate system.
Source : African Home Building News – Joycelyn Marigold