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Property Strategy and Analytics
by Ebenezer Opoku-Ware
3y ago
Welcome to WordPress. This is your first post. Edit or delete it, then start writing ..read more
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The Government’s Affordable Housing and National Mortgage Scheme: A Good Example of Public-Private Partnership and Matters Arising.
Property Strategy and Analytics
by Kenneth A. Donkor-Hyiaman
4y ago
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 mortgage and construction finance market to help bring down the housing deficit, which is estimated at 1.7 million units. A few months after, it appears the government’s affordable housing and national mortgage scheme is starting to generate some good results. H ..read more
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From developing to developed Ghana: Emphasis on Strong Government or the Market?
Property Strategy and Analytics
by Kenneth A. Donkor-Hyiaman
4y ago
The path to delivering socio-economic development in Africa has been a subject of mixed evidence which has received divergent policy approaches among various governments in the continent over the years. Indeed, it has been an argument deeply posited in academia especially the arena of political economy. A central question which has triggered the differing viewpoints is whether strong government or the market is the most efficient and effective approach to delivering development? Zeroing in focus on Ghana, for one reason or the other, many parties across the political divide have over the years ..read more
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Is there a Role for REITs in Developing a Real Estate Investment Market in Ghana?
Property Strategy and Analytics
by Kenneth A. Donkor-Hyiaman
4y ago
The real estate investment and finance markets in most developing countries are generally undeveloped, and Ghana is no exception. Housing for instance is usually financed by individuals and households using “sweat equity” over a period of time, often between 5 to 15 years for the average Ghanaian. In contrast, mortgage finance is available and relatively cheaper and easy to access in most developed economies like the US, UK, and Denmark.  Besides the institutional changes (legal, information, economic, cultural and religious, e.t.c), affordability problems and macroeconomic instability, the sc ..read more
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Why Housing Minister Atta Akyea must hasten slowly in touching SSNIT Pension funds for ‘housing’
Property Strategy and Analytics
by Kenneth A. Donkor-Hyiaman
4y ago
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 first tier defined benefit (DB) pension funds into a government-sponsored ‘affordable housing’ project. It is important to note that this proposal although radical is not new; some housing researchers in Ghana hold similar views. Ayitey et al (2010) for example made ..read more
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Why do Landlords in Ghana charge Two-Years’ Rent in Advance? Neoclassical and Institutional Perspectives (Part II)
Property Strategy and Analytics
by Kenneth A. Donkor-Hyiaman
4y ago
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 in disentangling the contribution to the problem due to pure market equilibrium effects (from the interaction of demand and supply) on one hand and cultures that have evolve from the need to mitigate income risk and protect the private prope ..read more
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Why do Landlords in Ghana charge Two-Years’ Rent in Advance? Neoclassical and Institutional Perspectives (Part I)
Property Strategy and Analytics
by Kenneth A. Donkor-Hyiaman
4y ago
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 much attention in recent times. What is rent advance in the first place? Rent in advance is literally the payment of rent at the beginning of the period. The amount paid is the capital sum of rents for the entire period or a period lesser than the entire tenancy o ..read more
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Riposte: “Don’t Think Building a House to Live in is an Investment”
Property Strategy and Analytics
by Kenneth A. Donkor-Hyiaman
4y ago
Speaking on Joy FM’s Super Morning Show, Thursday, a Financial Advisor cum stockbroker, Abena Amoah is reported on Myjoyonline to have said that only a house that makes its owner money through rentals can be called an investment.  Abena says a house becomes an investment only when it is rented out to tenants for occupation. She noted that since a house cannot generate income until it is rented out, living in it only makes it a utility and not an investment as quoted below: “It is a utility because you need shelter and it needs maintenance. So having one house is not an investment. If you ha ..read more
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Another Building Collapse in Ghana – Construction Industry is sitting on a Time Bomb
Property Strategy and Analytics
by Kenneth A. Donkor-Hyiaman
4y ago
The recent gas explosion at atomic junction on 7 October 2017 sent shivers down my spine. Very horrific incident, which could have been avoided if we took issues more seriously as a country. May the souls of those we lost in the incident rest in peace.  Whiles we were all engulfed in the mourning, lamentations and complaining, my mind went to the construction industry which equally posses the same if not a higher level of security risk and danger to human life and property due to neglect of the industry. There appears to be a very slow or lack of appreciation of the interventions needed ..read more
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Scrap the Rent Tax and Maintain the Real Estate Sales Tax in Ghana
Property Strategy and Analytics
by Kenneth A. Donkor-Hyiaman
4y ago
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 new Housing Policy is premised on pro-market principles aimed at creating and encouraging private sector leadership in housing delivery. This view is crystalized in objectives 1 and 2 of the new National Housing Policy as: 1.     To promote grea ..read more
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