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