Real Estate Governance and Policy

The Government’s Affordable Housing and National Mortgage Scheme: A Good Example of Public-Private Partnership and Matters Arising.

The Government of Ghana announced plans to implement some interventions in the housing and housing finance markets in its 2019 budget last year. A GH¢1 billion mortgage fund was to be established to leverage private capital to provide affordable houses for the populace. The fund aims to expand access to housing and deepen the local …

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Why Housing Minister Atta Akyea must hasten slowly in touching SSNIT Pension funds for ‘housing’

Housing deficit in Ghana is estimated as about 1.7 million affordable housing units. A lack of development finance has been identified as one of the limitations to affordable housing delivery. In an attempt to reduce the deficit, the Minister for Works and Housing, Lawyer Atta Akyea has proposed the channelling of a portion of the …

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Why do Landlords in Ghana charge Two-Years’ Rent in Advance? Neoclassical and Institutional Perspectives (Part II)

Introduction In part one of this article, we explored a neoclassical analysis of the rent in advance phenomenon in Ghana. While that analysis is valid, it assumes perfect information between landlord and tenants. In the real work, there is unequal information between landlords and tenants. This leads to a confounding result, stemming from the difficulty …

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Why do Landlords in Ghana charge Two-Years’ Rent in Advance? Neoclassical and Institutional Perspectives (Part I)

In Ghana, landlords often require two or more years’ rent payment in advance from prospective tenants. In other words, current tenants are likely to have paid a two-years rent in advance to landlords. The difficulty in raising the capital (lump) sum to pay rent in advance and the poor conditions of tenancies subsequently has received …

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Scrap the Rent Tax and Maintain the Real Estate Sales Tax in Ghana

After over 3 decades of policy vacuum, characterized by piece-meal attempts to recognize housing in some policy documents by succeeding Governments, a new National Housing Policy was promulgated in 2015. This article argues that the 8% existing Rent Tax should be scrapped while the VAT on real estate sales maintained for reasons discussed below. The …

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Housing Policy Reversionism and Contradictions in Ghana?

Housing Policy development can be traced as far back as the 1920s when the Dispossessed Person’s Housing Scheme was operationalized to provide some compensation to people whose houses were compulsorily acquired in the so-called public interest. After over 3 decades of policy vacuum, characterised by piece-meal attempts to recognise housing in some policy documents by succeeding Governments, a …

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Housing Policy Contradictions in Ghana?

In 2015, a new National Housing Policy was promulgated after over 3 decades of policy vacuum (since the 1970s despite piece-meal attempts to recognise housing in some policy documents by succeeding Governments). Two of the policy objectives are: 1. To promote greater private sector participation in housing delivery; 2. To create an environment conducive to …

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Towards Establishing the “Construction Industry Development Authority” in Ghana

Globally in the 21st century, infrastructure is the lifeblood of prosperity and economic confidence. Successful delivery of well-planned infrastructure investments offers developing economies and for that matter Ghana, an opportunity to compete in the global marketplace. Construction is the mechanism through which infrastructure is delivered. Aside this key role, the contribution of the construction industry to …

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