This Is ‘Monopoly Of The Rich’; Akufo-Addo Laments High Cost of Properties in Ghana

This Is ‘Monopoly Of The Rich’; Akufo-Addo Laments High Cost of Properties in Ghana

  • President Nana Akufo-Addo has said the cost of houses in Ghana are too high, comparing the costs to mansions in the US
  • According to him, while three-bedroom houses at East Legon go for as high as $500,000, mansions in good suburbs in the US can go for $200,000
  • He has called on the Ghana Chamber of Construction Industry to find innovative ways to beat the cost of building materials so properties will cost less

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President Nana Akufo-Addo has said the cost of houses in Accra and other parts of the country is too high.

According to him the cost of a three-bedroom house in some parts of Accra could buy a mansion in a good suburb in the United States.

He has, therefore, charged members of the (GhCCI), to find innovative ways through which the country can build cheap houses for the citiGhana Chamber of Construction Industryzenry.

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Nana Akufo-Addo and house
Akufo-Addo is worried about the high cost of properties in Ghana. Source: UGC
Source: UGC

According to a report published by Angel News, the President said a small three-bedroom house in East Legon will typically cost between $350,000 to 500,000 dollars, but the same amount of money one can get mansions in many parts of America.

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The President said sometimes in the US, the mansions cost between $100,000 to a maximum of $200,000.

“If we are going to be able to deal with the infrastructure deficit in our country, apart from roads, we have a deficit in our housing, 1.8 million units of housing that we need, a critical aspect of it is our ability to build houses cheaply.
“We cannot continue to ignore the expensive methods of construction that has made housing here virtually a monopoly of the rich, it shouldn’t be the case,” President Akufo-Addo said.

The President made the remarks when he addressed a delegation from the GhCCI when they paid a courtesy call on him at the Jubilee House on Wednesday, March 2, 2022.

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Nana Akufo-Addo said policymakers in the building environment must seek better ways of building strong and cheaper houses.

Video Of Bunker In Which Ghanaian Students Are Hiding In Ukraine Pops Up

A trending video showing the dilapidated bunker which is serving as the safe haven for some Ghanaians in Ukraine has popped up on social media.

In the video sighted by YEN.com.gh on Instagram, one lady was showing the world around the bunker which is housing many Ghanaians fleeing the fighting in Ukraine.

The lady showed the outer parts of the bunker and then proceeded to the inside to show the poor living conditions of their new place of abode.

Source: YEN.com.gh

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