Ghana Tops List of Africa's Most Expensive Countries to Rent a One Bedroom Apartment
- Renting an apartment in Ghana is a headache for many people, especially when landlords are demanding one or two years' rent advance
- A recent report has shown that Ghana tops the list of 9 African countries with the most expensive rent price for a one-bedroom apartment
- The affordable housing projects by the government have done little to ease the accommodation problems in the country
PAY ATTENTION: Click “See First” under the “Following” tab to see YEN.com.gh News on your News Feed!
A recent report by Numbeo, which is a world-leading provider of statistics on perceived consumer prices and others, was published on Business Insider which showed a list of the most expensive African countries to rent a one-bedroom apartment.
Source: Getty Images
Ghana came out top of the list which featured Kenya, Algeria, Nigeria, Morroco, Egypt, Tunisia, Mauritius and South Africa.
The report was based on the property price to income ratio, which means the price of a one-bedroom apartment compared to how much income people make per month in the country.
Some of the affordable housing projects by the Ghana government to reduce the country's housing deficit have been abandoned for a long period and some are also too expensive for the average income earner to afford.
PAY ATTENTION: Enjoy reading our stories? Join YEN.com.gh's Telegram channel for more!
This has raised a lot of concerns among some members of the society who are querying the government on the need to build affordable housing when it will not benefit the average citizen.
In addition to this, most landlords take large sums of cash for their rental properties in one or two years' rent advance, notwithstanding the already pricey properties.
This has put a lot of pressure on Ghanaians who save only to spend it all on their rent at the end of the day.
The Managing Editor of Ghana Business News, Emmanuel Dogbevi, took to Twitter to share his comments on the country's rental crisis. This is a tweet he shared below.
Many emerging areas, real estate companies and online portals are springing up to offer more budget-friendly accommodations that people can afford.
Why Some Real Estate Agents Charge Registration and Viewing Fees
In an earlier article, YEN.com.gh wrote about why agents charge registration and viewing fees. People have lashed out at why agents will take viewing or registration fees when they will be paid a 10% commission on the total price of an apartment going for 1 or 2 years in advance.
Agents claim that the fees they charge before a deal is closed cover a lot of things such as consultation, and they will also need to pay for their transportation among other things.
Source: YEN.com.gh
