Bill Cobbinah And 3 Other Young Ghanaians Who Have Set Up Real Estate Companies To Solve Ghana's Rent Problems

Bill Cobbinah And 3 Other Young Ghanaians Who Have Set Up Real Estate Companies To Solve Ghana's Rent Problems

  • Young Ghanaians like Bill Cobbinah and Jennifer Appiah have established real estate companies that provide accommodation for Ghanaians
  • They all provide decent apartments for the country's growing population to solve Ghana's housing deficit, which has hit two million
  • The young real estate professionals have shared how they identified a problem Ghana faced and decided to be the solution for them

PAY ATTENTION: Enjoy reading our stories? Join YEN.com.gh's Telegram channel for more!

The real estate industry in Ghana seems highly unregulated, which has brought about problems such as a two million housing deficit and landlords taking advantage of renters to defy the country's rent laws.

Young Ghanaians with real estate businesses
Young Ghanaians solving Ghana's accommodation crisis. Photo credit: Bill Cobbinah, Inspired Luxury Realty and Michael Tagoe
Source: UGC

The government of Ghana is now taking steps to address the country's rent problems by introducing the National Rent Assistance Scheme to help renters pay monthly rent instead of one or two years' rent advance, as is the norm.

Read also

Lady shares video of plush places in Accra where rich people can have an 'out-of-the-country' experience

However, before the government's intervention, some young Ghanaians, mostly straight out of university, established real estate companies to provide renters with decent accommodation and reduce the country's housing deficit. YEN.com.gh mentions these industrious Ghanaians below.

26-year-old Bill Cobbinah created a real online portal called Edanra

Edanra staff
Bill Cobbinah and Edanra staff. Photo credit: Bill Cobbinah
Source: UGC

PAY ATTENTION: Click “See First” under the “Following” tab to see YEN.com.gh News on your News Feed!

Bill Cobbinah is a 26-year-old graduate of the Kwame Nkrumah University of Technology. He explained to YEN.com.gh how he founded "Edanra," a real estate online portal that connects property seekers directly to landlords and agents.

Bill explains his motivation for starting the company

According to Bill, he became motivated to create a real estate company with two friends, Alfred Asare Amoah and Jerome Cordjotse, after seeing the suffering caused by bad individuals who pretended to be real estate agents to defraud their unwary victims in the guise of finding them accommodation.

Read also

National Cathedral accumulating huge debts – Ablakwa marks 1-year after contractors left site

He had an interview with the YouTube channel CTN Technologies, where he shared how the Edanra journey started. Watch it below.

Subscribe to watch new videos

Bill Cobbinah talks about how his company operates

Bill told YEN.com.gh that Edanra began as a free website, making finding suitable housing in Ghana easier. He added that the business is now switching from a free classifieds platform to a third-party platform that provides renters with a financial solution to make monthly rent payments.

30-year-old Benaiah Cathline-Abraham establishes a real estate company to find accommodation for high-profile personalities

Benaiah Cathline-Abraham
Benaiah Cathline-Abraham, CEO of C-quiver Properties. Photo credit: Benaiah Cathline-Abraham
Source: UGC

Benaiah Cathline-Abraham is a 31-year-old Ghanaian who decided to distinguish himself in the real estate industry by providing apartments for high-profile personalities such as pastors, embassy employees and expatriates.

He set up his real estate business, C-quiver Properties, to offer dollar-paying accommodation seekers alternatives to Airbnb.

Speaking exclusively to YEN.com.gh, Benaiah said:

Read also

Ghanaian lady weeps and calls for landlords to reduce rent prices in Ghana

I realised that most expatriates in Ghana do not have many accommodation options that meet their peculiar needs, so I decided to specialise in providing them with luxury apartments for which they pay good money.

Benaiah touches on the kind of property he provides

According to the young real estate professional, he does not own any properties but works as a property and facilities manager for wealthy property owners. He continued by saying that most of his clients are high-profile individuals like diplomats, expatriates, and other influential people, especially in the petroleum industry.

Benaiah asserted that his business also offers industrial and commercial areas like warehouses, offices, land, and high-end residential housing.

Jennifer Appiah established a real estate company in Ghana after getting scammed of her land

Jennifer Appiah
Jennifer Appiah, CEO of Inspired Luxury. Photo credit: Inspired Luxury Realty
Source: Facebook

In a YouTube video, a young Ghanaian lady, Jennifer Appiah, shared how she left her comfortable life in America to move to Ghana. She claimed to have lived in a luxurious apartment in New York and worked for a hedge fund company but had to leave everything behind.

Read also

Christian Atsu: Crime Check Foundation adopts Becky's Foundation, donates cash and items on first visit to the orphanage home

According to Jennifer Appiah, the Chief Executive Officer of Inspired Luxury Realty, her real estate company takes excellent satisfaction in offering property buyers and sellers a high degree of individualised services.

Jeniffer shares how she started her real estate business

During Jennifer's interview with Odana Network on YouTube, she revealed that on one of her visits to Ghana, she gave her friend money to build a vacation home for her and trusted her friend to get it done even when she returned to America.

However, she later discovered an issue with the land paperwork when she returned to Ghana in October 2019, which made her lose her investment in the property. The real estate mogul added that other property investments she started in Ghana brought her only trouble.

She acknowledged that her troubles with her projects in Ghana inspired her to establish her own real estate business to assist others and shield them from the difficulties she encountered.

Read also

Man shares video of huge mansion belonging to Vice President Mahamudu Bawumia in Kumasi

Watch her interview below.

Subscribe to watch new videos

Stephanie Wilson establishes a real estate company at age 21

26-year-old Ghanaian real estate mogul Stephanie Wilson started her real estate business when she was 21. When she was 20, she built a three-bedroom house and completed her first sale.

Stephanie Wilson
Stephanie Wilson, founder of Scown Properties Limited. Photo credit: pulse.com.gh and starfm.com.gh
Source: UGC

According to Stephanie, a teacher at her junior high school crushed her interest in construction as a young girl. Nevertheless, she pursued her passion by all means and surrounded herself with architects and builders.

Architectural design of homes
Scown Properties develops architectural designs of homes. Photo credit: Scown PropertiesLtd
Source: Facebook

Stephanie shares how she started her construction business

Stephanie explained that she began importing building interior supplies, including tiles, wall coverings, and security doors, with the help of her family and also developed a team of constructors using the information she acquired during her time at the university and her skills and robust network.

As a result, she oversaw client acquisition efforts, procured contracts in her company's name, and carried them out with her staff. In 2017, she sold three homes to clients abroad and formally introduced her real estate business, Scown Properties, to the nation that same year.

Read also

Man relocates from the US to Ghana and builds 80 apartments to solve Ghana's accommodation problems

A real estate agent explains why they take service charges from property seekers

In an earlier story, YEN.com.gh wrote about how a Ghanaian real estate agent explained why real estate agents in Ghana charged commissions and registration fees. Many people felt resentment when dealing with real estate agents, he said, because of the costs they had to pay. Nevertheless, the real estate agent emphasized that by explaining why agents charged service fees, people would better understand the vital role they performed.

New feature: Сheck out news that is picked for YOU ➡️ click on “Recommended for you” and enjoy!

Source: YEN.com.gh

Authors:
Richmond Setrana avatar

Richmond Setrana Richmond Setrana is a real estate editor for YEN.com.gh with 5 years of writing experience. He graduated from KNUST in 2016 with a bachelor’s degree in Sociology and is currently enrolled in a MA—Mass Communications program with Liverpool John Moores University. He has written for reputable platforms like meqasa.com, Noanyi, Edanra and Yourcommonwealth.org. He can be reached via: richmond.setrana@yen.com.gh