Rent

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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Path Dependence on Colonial Extractions: A Perspective on the High Cost of Housing in Ghana (Part I)

Housing is undoubted more than one third of global wealth. All over the world, meeting the need for housing in adequate terms especially for low and middle-income households have been difficult due to the high cost of housing. In essence, the prices of the houses in the market are beyond the affordability levels of about …

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The Rent Act 1963 in Contemporary Ghana: An Anachronism?

In the aftermath of wartime bomb damage, shortage of materials and building restrictions, the increased demand for homes from those returning from World War I resulted in housing shortages. By simple economics, rents will rise genuinely; however, it is worth noting that the precursor was artificial and was expected to return to equilibrium within a …

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The Incidence of Rent Tax in Ghana: Landlords or Tenants?

Tax the world over is the major source of revenue to Governments. It is really not a bad thing if tax payers get value for money (vfm) regarding what their taxes are used for, especially in respect of the state’s provision of services to promote the welfare of tax payers. Taxes are therefore one of …

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