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Openprop Transforms Ghana’s Rental Market with Innovative Virtual Tours
Demonstrations Begin Against Alleged Land Seizure and Unpaid Compensation in Greater Accra
The U.S. commercial real estate (CRE) market faces a potential crisis as over $1 trillion
in CRE loans come due in the next two years
Razorlabs has introduced Openprop, Ghana’s first rental platform featuring virtual tours, transforming how renters and landlords connect in the country.
Openprop is a modern rental platform designed to streamline the process of finding and renting properties in Ghana. It offers detailed property information and, most notably, virtual tours, allowing potential renters to explore properties from the comfort of their homes.
For renters, Openprop provides several key benefits. The platform eliminates the need for time-consuming and costly visits. Detailed property descriptions and virtual tours enable renters to make informed decisions without leaving their homes.
This convenience is paired with significant time-saving, as the platform allows renters to narrow down their options more quickly, making the process of finding a home faster and more efficient.
Additionally, Openprop’s user-friendly interface and comprehensive property details provide a hassle-free experience, alleviating the stress typically associated with house hunting.
The Coalition of La Associations and the GaDangme Coalition Against Land Injustice have started a series of demonstrations protesting the alleged unethical seizure of lands by political entities in the Greater Accra Region.
Their primary focus is on the Trade Fair land, which includes areas occupied by Labadi Beach and La Palm Royal Beach Hotels.
The group claims that the original landowners have not received the legally required compensation. They also express concerns about the Prisons Service lands at Cantonments, where a private developer plans to redevelop the facilities and use part of the land for private business purposes
Kojo Oppong Nkrumah, the Minister of Works and Housing, discussed his strategic approach to addressing Ghana’s housing challenges in an exclusive interview.
He highlighted the dual nature of the issue, noting its simplicity in terms of the basic need for housing for 32 million Ghanaians and its complexity in resource prioritization. Nkrumah’s approach involves understanding baseline data, identifying key issues, and leveraging resources.
A key part of his strategy is engaging the private sector to build affordable and social housing, noting that currently, 99% of housing units target the top 5% of the market. He emphasized the need to incentivize the private sector to cater to the lower segments.
To develop effective policies, Nkrumah conducted extensive research, including visits to several African countries and consultations with Moroccan experts.
He engaged 28 stakeholder groups, leading to a reform package announced by the Finance Minister to facilitate private sector involvement in delivering affordable housing.
The U.S. commercial real estate (CRE) market faces a potential crisis as over $1 trillion
in CRE loans come due in the next two years
The U.S. commercial real estate (CRE) market faces a potential crisis as over $1 trillion
in CRE loans come due in the next two years.
Small and midsize banks are particularly at risk due to their high exposure to CRE loans. The pandemic, rising costs, and shifts in work patterns have intensified these risks, leading to increased delinquencies and defaults.
This could result in widespread bank failures and financial instability.
Corporations should prepare by extending debt maturities, securing sufficient working capital, and diversifying financial instruments to mitigate these risks.
Joycelyn Marigold- Property Express News
