By Issah Mohammed
Accra, Aug 11, GNA – Culture of prestige associated with owning spacious townhouses which comes at prohibitive cost is contributing to the housing challenges in the country, Mr. Kofi ‘Adabor Ofori- Amanfo has observed.
According to the Board member of the Ghana Real Estate Professional Association (GREPA), most Ghanaians look beyond the basic need for shelter and protection to demand for homes which require developers to integrate features at inflated prices.
The phenomenon has led to the putting up of houses that are zero per cent occupied because they either do not satisfy the taste of Ghanaians or are too expensive to acquire, he said.
“Analysis currently suggest that Ghanaians do not want high rise structures. Every Ghanaian is currently looking at having his own compound where his kids would play and for him to go 360 degrees around his own house.”
He emphasized the need for conversations on why Ghanaians need to alter their taste to patronize semi-detached houses as opposed to houses with large compounds.
“There is the need for a conversation for people to understand that you do not need a five-to-four-bedroom houses when you are starting life. Why would you have a problem staying in a two-bedroom semi-detached because of pride and dignity?” He said.
Mr. Ofori-Amanfo made the remarks at the media launch of the 2022 Africa Real Estate Conference and Expo which was on the theme, “The Role of Real Estate and Infrastructure in Achieving Sustainable Goals and Finance”.
He also called for collaboration between the Government and property owners where owners would reduce their profit margins with government providing subsidies on cost of building materials to make home acquisition more affordable for Ghanaians.
Mrs Vicky Sampah, the Chief Executive Officer of GREPA, said that advent of the COVID-19 pandemic had on the global scale affected real estate as more people tended to separate and isolate more and more and in effect, downsizing their homes and workplaces. “Office spaces have changed; they are becoming more closed, and people are working half home and half at their workplaces.”
The second edition of the five-day event which will begin on September 12 and end on September 16,2022 is expected to attract over 3,000 participants both virtually and in-person.
GNA