Priced Outta Ghana (Million Dollar Mansions?) Why are Accra Houses so Expensive?
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- Опубліковано 2 лют 2023
- Looking at property in Greater Accra can feel like househunting in LA. The prices are outta this world. But WHY? Let's talk and don't forget to share your thoughts in the comments.
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I am married to a Ghanaian and we own properties in Ghana. Ayo and Tony, the people buying these properties are wealthy Ghanaians and other affluent folk in Ghana. They are there even if you don't see them. And people like my spouse and myself who live in the diaspora. They purchase these places as investments and even retirement homes. They pull money from 401k plans, take out loans, or save a spouse's salary in Europe or North America to make it happen. Ordinary Ghanaians buy land and take years to build, where they can afford, and may never even live in the house.
I just can’t see paying US prices for a home in Ghana when the dollar value isn’t equivalent to cedis. This just seems more like greedy investors. The average American isn’t rich and is struggling especially with inflation in the US. Bad enough it’s getting hard to purchase homes in America now with the inflated interest rates and the prices in real estate.
Greed Greed Greed #elitism
In town on business and building a home here. Would love to chat before I return to Chicago.
@@jamillebarnes9649 I want to build in Tamale in 2-3 years. Who do I check with as far a realtor?
I agree and don't forget Africa doesn't have jobs the gov is terrible towards the people in africa
Hello Tony and Ayo, please don't be deceived by the average pay for ordinary Ghanaian because the majority of Ghana's middle and upper class are entrepreneurs.
Most of them bring their worth from their towns and villages to buy those expensive real estates in Accra, Tema, Kumasi and other cities.
Some of them are farmers, fishermen, market women, gold and diamond miners and public transit owners. The rest are the dishonorable politicians.
@@princess_consuela_b Yeah, depending on the amount of the asked price, I would start negotiation at quarter to half the price
Most Ghanaians are poor.
Most of the asking prices are unrealistic and unsustainable. They target foreigners for dollar prices because they are greedy. Most of these homes are empty because although they might get expatriate in the beginning because they do not know any better about the economy in Ghana, as soon as they get enlightened and realize the price they are paying is too much they decide not to renew their lease so yes the house prices are very high but majority are empty. Those occupied were bought by expatriate and corrupt politicians.
@@emmaafriyie5170 I find it a little arrogant that diaspora Ghanaians and African Americans who are moving back to Ghana expect to be able to buy houses in East Legon, Cantonments, Airport Residential etc when back in the States, they wouldn't expect to be able to buy in a place like Beverly Hills and do not complain about overpriced houses in Beverly Hills etc. Well, these places in Ghana are the equivalent of Beverly Hills, might not be like-for-like, but from the Ghanaian perspective they are meant for the super wealthy not for the middle classes. Why do y'all ignore the many affordable options out there (You can get a 3- bedroom house for about GHC 300,000 at adom City estates) and complain about the luxury, unaffordable ones?
Having lived in both Houston and Accra. Dollar for dollar I’ll take Accra.
A little correction: the salary conversion should have read 200 - 500 dollars a month not 20 - 50 dollars a month. It's still not much though.
I'm Nigerian, but a pov: the mistake economists (and foreigners) have always made for Africa's top economies is that these countries have an established middle class/sizable upper class. East Legon, Labone and Cantonments for example probably have Ghana's 70% highest incomes in the country - its VERY TOP businessmen, corporates, top medical/legal folks, politicians and its U.S. diaspora e.g. have real estate in such places (and make the incomes in dollar terms to match). Looking at the "average" Ghana teacher's salary tells you nothing. Also, you can't trust these stats. People make more money informally and this doesn't get tracked. Bottom line, these neighborhoods are basically the "Hollywood" of the country so of course its equal or more than your home in a random suburb in Houston. If you consider that a home in such a place is $300K compared to the Hollywood equivalent of $3M then it starts to make sense.
I disagree, because before it developed ordinary people already owned the land . So as the place started developing Prices went up.
I totally agree with you @fistandpen
@fistandpen 2505, My brother you are so so so right!!!!!!!!!!
I believe you have shed a perspective that Americans have not considered.
South Africa 🌍 and Kenya is looking better every day
Ghanaians build these properties much cheaper but can sell to well off expats, and others that willing to pay. But in reality, Accra Ghana isn't developed enough for me to pay a Million dollars for a house. I have travelled all over this metropolitan area. The lack of properly build roads takes away from its development.
I see these million dollar homes and then see homes in other towns in Ghana and they look just as good or even better. Ghana is not just Accra and surrounding cities.
It’s always been like that. Indeed, many foreigners, especially Nigerians used to call Ghanaians magicians in view of their income vis-a-vis the cost of living. Having said that, though, we gotta put things in some historical perspective, and I will endeavor to be succinct:
1. Buying homes in Ghana and most parts of Africa is a novelty. The practice is to, as you stated, build your own house, no matter how long it takes to complete it. That route is much cheaper, relatively, yet longer because it’s all coming out of one’s pocket. Here in America, the homes are owned by the banks and local government. The Western world is a catalyst of false consciousness: You may think you own your property until you’re out of job and can’t pay your mortgage; or even if it’s paid for, you still lose it to the local government if you can’t pay your taxes. Thus to me, it evens out-There’s no difference; or better still worse in the West since the only thing you miss in Africa is the comfort/convenience/ amenities. But you own the property perpetually.
2. With regards to incomes, it used to be the case in Ghana that only the man earns income, but that has changed lately as you have a lot of women in middle and top management positions. Thus you can imagine what can be achieved if the man’s income goes into acquiring land and building the house whilst the wife’s income take care of the home (worthy of note, though, that in Ghana most of the women are in the informal sector as traders etc-some of these tend to make more money than their husbands in corporate or formal employment ).
3. Lastly, mortgage is available. However, the rates are ridiculous-matter-of-fact some of the mortgages are even designed to sponsor the construction of the home. That serves those that are in the middle class who believe that reniting a comparable home that befits their status is more expensive than the mortgage. Plus, some of those middle class employees receive home allowance perks from their employers that offset part of their rent/mortgage-indeed some even live in homes owned or rented for them by their employers. Thus if managed properly, the household income can even build more than one house.
una don come... which Nigerians called Ghanaians magicians lol This is a similar phenomenon everywhere in the developing world. It's just when it comes to Africa, people act like there's nothing going on.
@@fistandpen2505 why do Nigerians get offended abt anything Ghanaians say linking it to them even when it’s not an insult but reference
@@worldformatics agreed
I live in Ghana 6 months a year, originally from Atlanta, ga. The prices or values of houses outpace the rent in Accra.....it is better to rent in Accra. You can buy a 200k usd house in Ghana and pay that out of pocket, or you can just rent the same house for 122.00 (1500 cedis) usd a month....i choose to rent while in Accra for this reason. I agree with you, It does not make sense to buy a house in a developing country for the same price or more than a house in a developed country. The loop hole in Accra Ghana is it is better to rent than to buy. My future plans are to build outside of Accra where the land is priced reasonably.
You two and your family look great! Thanks again for keeping us informed. Plotting and planning.
Ayo. Tony says “my wife Ayo”. You say “this is Tony” 😂. Tony is a KING. Put some ‘spect on his spousal title.😂
There actually is a mortgage system in Ghana. The interest rates are so high that for Ghanaians or foreigners living and working abroad, it is better to use home equity loan to invest in Ghana. Ghanaians abroad are buying these homes and so are Ghanaians living and working in Ghana doing all kinds of businesses with emphasis on all kinds of businesses.Often times family members living abroad pull resources together to buy these homes.
A lot of the expensive buildings in Accra belong to the civil servants, but we always blamed the politicians for been corrupt.
Hey, family, say hello to the guys' 💕 on here listening tonight from Randallstown, Md.
Some wealthy expats have invested or are investing quietly.....so that factor is real. You guys have hit the nail in many areas on the reasons why. Don't forget speculation.... i grew up in Florida and it started like that....I remember as a kid there was a lot of wilderness until the north-south migration plus money coming from unspecified sources to cater for people with money.
Tony and Ayo, with the comments that you have, do a part 2 of this video.
With Real Estate it's location as you said, ,but on the other hand it could be the price of materials and labor. Also, there is a kind of hype around Accra. So that could be part of it. And from what I understand, it is pretty save. Even Nigerians want t live there.
Hello family. The key is moving out of Accra or Tema. Prampram is a nice location, but it's quickly becoming high priced. Luckily for us we bought land at the right time.
Hey guys! I was wondering the same things!
Inflation na serious wahala woo. That’s what’s going on I think. ❤ your program!!
I think it’s the affluent areas you’re speaking of and have Ghanaians who have went abroad and made $$$ and they come back to Ghana and built a “dream” home. It’s the same everywhere
@@yohana7290 - There are just too many "affluent" areas though... Nothing but nice houses and nothing to offer from the neighborhood like schools, recreation, or parks, and thanks for the comment 😊!
Tony and Ayo, I am a fan of your and I respect what you do. You still have much to learn about how the economy of Africa works. Africans are not poor in the numbers believed by the West. When most African countries started adopting cellular phone technology in the late 90s / early 2000s for example, the rate of adoption astonished the foreign investors of the new technology to the extent that some recouped their set up investments in a fifth of the time they has projected. A lot happens in the African informal economy. While I believe the intended audience of your content is predominantly people of African descent in the diaspora, you will need to engage more with middle class Africans to begin to understand the native African mindset. That in the end will answer a lot of your questions and bring more enlightenment to your intended audience.
I will see you two when I get there
I have asked this questions about Accra housing prices a thousand times. It is ridiculous. I think it’s just for rich politicians and the 1percent of the 1percent business men and women. Lagos is significantly smaller than Accra and it has way more population and more wealth and yet it’s cheaper in Lagos than Accra. It doesn’t make any sense.
Thank you for your comment! ❤️️👍😊
These house prices are ridiculous to say the least. What is the ROI at these price points? I had a friend who passed away recently. He had a beautiful house in a high end suburb in Sekondi Takoradi in the western region. He was struggling to find a tenant to rent it at a fair amount. Frankly I don't believe that there is a sustainable and dynamic economy in Ghana to justify these prices.
The truth been told, some Ghanaians are rich, most people buy houses and pay cash, the other thing is that government workers don’t earn much but they all have other businesses, don’t be fooled they have their ways
@@adminbentley5752 - Yea, we see that, and thanks for the comment 😊!
It all boils down to economics; demand and supply.
I recently moved to Ghana.And the housing prices are so overpriced , it is so ridiculous.And i lived in so many developing countries with a lot more western foreigners, when lI compare it ,it has been the most expensive with the least amenities. And if you try to negotiate them down to what the place is actually worth . They would rather that listing just sit there, for months and months and months with nobody renting it, just waiting for that ONE sucker willing to pay 8x the price for 2 weeks in December or April. Thank goodness both of my parent are Ghanaian , and they do have property for me to stay I. The outskirts of Accra. And from the people who I have met that live in the Cantonment, Osu , Airport areas . They tend to have a background that is connected to some kind of generational wealth. Usually in some kind of African politics. The people who are connected to politics:, and their family are the ones living in these neighborhoods. And then their are also the Ghanaians ( like me ) who were born and/or raised in a
Western country , and have done well for themselves and brought property in those areas . But every Ghanaian I met that lives in those neighborhoods had some kind of influential father or Grandfather. There is a lot of corruption when it comes to wealth distribution. .Hence why only a few neighborhoods in Accra have basic amenities like sidewalks , garbage bins , gyms , parks etc. And then 80% of Accra is dirt roads , and trash everywhere.
Thank you for your comment! ❤️️👍😊
The reason they can afford to let it sit for years without renting is because they built it with stolen money. Why else?
Wow I’m from Houston also. Acres Home to be exact. I moved here to Kumasi, because the prices In Accra is ridiculous.
@@webelonginafrica273 - Acres Home represent!! Outside of Accra is crazy cheap to buy, and thanks for the comment 😊!
@@ExpatLifeGhana you’re welcome. Yes Accra is getting worse by the day.
Noooooo not the Acres Homes, please do tell how did you do it. How did you move abroad and what are some tips for those of us who may be interested 🤔.
@@maronsmith7007 yes sir 44 Acres Homes here on the continent lol. I hope you checked out my profile. Fam I got tired of what was going on in the USA and moving to another state didn’t completely fix my problem. I moved from Acres homes to Michigan working with Hispanics and messed around and picked up some new habits on how they benefit In their home country by sending money home building mansion and big businesses. I did just what they are doing but doing it with the home of the negro (the motherland) I bought land in 2017 and started building a house then. I didn’t have big money so I sent a little from most of my paychecks to Africa to have my house built little by little and here I am today. Africa is more than what we have been told about. Don’t miss out on the African dream because the American dream is not designed for us.
@@webelonginafrica44 enjoy Ghana! I am Ghanaian living in Richmond TX. I know acres home very well. I will be doing a write up to explain to Ayo and Tony how afford the lifestyles in Ghana. Western Economist do not understand the informal sector and how Ghanaians in Ghana do multiple jobs. Ghanaians are the same as Nigerians when it come tongrinding but we go silent not to warrant attention. Only those showboating like to call attention to them selves. I am happy for you living your best life in Ghana.
Beautiful ❤❤❤people 😊
@@sourcestvghuk9897 - Love that! Thanks for the comment ❤️️🇬🇭❤️️.
@@ExpatLifeGhana ur welcome
The same thing is happening in Kigali Rwanda. The investor and owners are pulling prices out of thin air. They are marketing to foreign investors. The housing inventory is high with not many people to buy. I think the bubble will burst soon.
OMG, the housing prices in Ghana are too high even though their roads are not paved and filthy with a $500k house.I left Ghana 40yrs ago and would like to retire in Ghana,but I decided to buy my retirement home in south because of Ghana homes prices.
Whatever 😜 no one care. U can go north
Perhaps it's the cost of materials that are being shipped there and not made there. And some of the craftsmanship put into some things like the xeilings of some homes. That type of work takes time and time is money. The technology that os done to build homes in some cases are behind the times from a western perspective which is also perhaps a big expense.
-Respectfully I Absolutely Agree IT TAKE THEM A LONG TIME FOR THEM TO BUILDED A HOME AND ORDER THI THING💯‼️👀 AMEN
You have lived in Ghana so long but still diner seen to understand the system.
I was able to build a home here in America and sold 2 years later in 2021 when the US housing market was a sellers market. I was able to make a profit to afford to build in Abokobi. I never looked in Accra was too expensive.
Where's Abokobi
Tarari-Ali = ghana native, not American who will lose everything when they return home
I was foolish, sold and bought a house for $220,000 back in 2021. My ex from Mali warned me do not go you will get scam. He was so scary about it all. I regret now listing to him, because prices of materials are higher. Do not wait go and make it happen.
@@twanacisse3950 THIEF shut up
@@emilystevens6335 No I will not shut up. There is no reason for concrete or bricks to go from a few cents to some three times higher cost. Everyone is not rich in America or in Africa or in Ghana. I see you are just plain rude and disrespectful uh!!!!????
Hello everyone let's start off by saying I will be moving to Ghana soon yes the prices are too high in the workers are way too underpaid which makes no sense one of the things that increase the price is how much you pay your workers over there it does not make any difference they're paying the work is very little but charging an extremely high price for the house please let's increase the workers pay to reflect the price of the house
Okay… this is your most interesting video… I really enjoyed it…
Lemme try to bring perspective here. You see many locations don’t have the amenities so people don’t wanna live there… but the part few people understand is that some of those locations will become treasured real estate in the next 10 years…
Yeah that’s the real reason for the high pricing… People with lands in East Legon or Cantonments have owned these lands for over 20 years… Other locations are gradually becoming pricy as well; Tse Addo, Dzorwulu and Haatso, all seem to be an extension of East Legon…
When we were kids, only East Legon was prestigious, now all those other places are too…
So why is the real estate so expensive? It because it’s like antique… the price goes up the older the community is… of course there are other older communities which cost less but those would be the low to middle income communities which were often the village Centre’s years ago… 10 years ago, a plot of land a locations t Osu was going for 1.5bn Ghs, today don’t even think of buying land in Osu, just don’t… cos that 1.5bn buys land in relatively new residential placing like Old Ashongman…
So it’s the land… it has gained in value so much…
What should you do…?
Very simple… buy land in an upcoming neighborhood like Dawhenya or Prampram and develop it… in 20 years, someone will rent out one of your flats for half a mill…
Oh, you can just buy the land, wall it, and leave it there for 20 years… In Ghana, that’s the best investment (so far as you overcome the litigation part)…
Yes I am currently building in Dawhenya when I started nothing was there but now it is full of activity.
I like your shirt.
Thanks for that comment @@williesmith6031, appreciate it 😉!
❤️ 😍
Houses in Ghana are expensive and it has been so for a long time I know things will change
Yes those areas of Ghana is like rich community. If you are not rich you shouldn't think of purchasing a property over there.
There are really really reeeeaaaaaallllly rich Ghanaians millionaire who live in Ghana never traveled abroad very very rich that can afford this kind of expensive luxury houses three times the price. Trust me some Ghanaians are crazily rich. Also I will rather buy a house in Ghana than the US cause most of the houses in the USA are built on woods.
I have several investment properties in Connecticut USA. Most paid off in cash except yrl. Taxes..I net $4000.00 monthly on each 3 multi family house worth $250k (I have 6 of them ) properties in Ghana doesn't make sense.
@@stephenobeng243 Having a property in Ghana make sense paaa ,If you’re thinking that the properties you’re claiming to have in the U.S is yours forever ,Wait until you can’t pay property taxes anymore & SEE ……
@@ishowkumasi what are talking about ? Do you know or understand what a positive cash flow is ? With the new GHANA CARD. Very soon the GHANA will be enforcing aggressive property Tax system just as in the USA. Remember most of the top politicians in Africa have property's overseas .
What is really going on is that there is a segment of people who get lines of credit from the bank that they are supposed to use for business but flip it into huge properties and cars. I have real estate investment in Ghana so I have learned a little about the banking system.
I'd like to hear more from you two personally and will perhaps get around to contacting you. I'm really slow about that. I'm looking for nurse opportunities there but the pay will not take care of ties I will have left in the US.
Median house prices in my state of Tasmania are half to one million Au dollars. Too too expensive.
I think it is air bnb distant ownership and then the rental places all want USD so the numbers/costs are pulled out of you know where!
Yeah that is why a lot of people trying to build their own houses.
Wode Maya is developing properties for $200,000.....or less for 4 bedroom luxury house. Not sure the area.
You guys are a super cute couple
Because it's targeting foreign money. Yes foreigners are driving up the prices
Come to Zimbabwe
All I see is that a lot of people need a renewal of mind when it comes to Buying or renting property in Accra. A lot of people selling these homes are greedy and price gouging because they think their homes are worth that much. Just take your time when you go to Ghana, find and buy a land where you can afford and take your time to build your home and enough space to grow your own food. Buying in these expensive neighborhoods are not sustainable and in the end causes one to live a certain lifestyle not true to themselves. The only way to truly live in a developing country like Ghana and be happy is to live sustainably.
Add up the generations of property taxes in America and subtract from Ghana home cost.😄🥰
The problem in Ghana is housing and amenity’s deficit, so people who are fortunate to build just price gouge, at the end of the day the Ghana government need to partner with private developers for low income housing with amenities en mass and all those so called mansions with dusty roads will chill, I currently building up in the mountains close Aburi, I wouldn’t leave in Accra and I was born in Accra, to me Accra is looking more uglier and unorganized from what I saw growing up, however I don’t blame Ghanaians as the government don’t even function, reason why we have so many non governmental organizations
Tony and Ayo. Don't be fooled by the appearance of these market traders. They make a lot of money from selling. In Addition, for a mansion that sells for $300,000, you can build it on your own for $100,000. House prices are overinflated in Ghana and soon the bubble will burst. I will like to add that the other capital cities are comparable places to settle. A place like Kumasi is even better.
I’m praying really hard for bubble to burst soon 😂
❤
well said @otutu2000.. I've been saying the same thing for ages..with lack of infrastructure bad roads perennial flooding issues the prices are well excessive especially when u can build for a third of the cost of purchase. Just watch this space.
Ghana is not only ACCRA. Kumasi is far better
Ghana works with American investors who buy property in foreign countries to make money it’s not to far behind American investors they just don’t do thirty year mortgage
✊🏾
Those areas are for rich business men and not just expats
Only 2% may be foreigners, but the question "where in Ghana is that 2% located? " Shouldn't be discredited. Most likely majority are based in Accra, with other also being in some of the other significant city-centers like Kumasi and Takoradi. And to be fair, foreign commercial activities are likely more of an inflation factor than individual/personal foreigner activity.
I can find a luxury upscale one bedroom in South Africa Johannesburg for $ 4 to 550 usd per month.
I can find a beautiful modern three-bedroom house with a pool in Johannesburg area for 250,000 usd in a gated community. I can find a house in South Africa for less than $250,000 usd if it’s an older model in a good neighborhood.
Ghana has to do better
not to mention you have paved roads in South Africa...🤗
Less than that 250,000 u can find a luxury apartments to buy with nice surroundings anf good road as well.
But I’ve seen loads of homes for 100,000 200,000 Ghana advertised on UA-cam
Have the title and real estate laws changed for foreigners (Black Americans)? Last I checked foreigners can lease for 50 years. There is no freehold ownership for foreigners. Please update me on the real estate/title laws.
Its not changing because we don’t want people from rich countries end up owning the poor countries within a couple of years. The 99 years leasing method is by far the best and practical approach to protect the land of the indigenous people. If a foreigner comes with good intention, after 99 years your contract will be extended but if the foreigner comes with bad intention, after the leasing period the land will be taken back by the state.A typical example is how the Europeans stole the land of the native Indians in America by their military might and education. Times have changed but the phenomenon have not, it has rather transformed which means richer countries can buy poorer countries with printed paper called money.
This is not exactly true. It depends on the land classification type. Privately owned, free from any lines, can be sold as an outright freehold to a foreigner.
@@thh_h -99 years with contract renewal options and thanks for the comment 😊!
How many teachers live in Manhattan NYC,there are millions of Ghanaians all over the Globe who can afford 1million home @ trasacco,east Legon,airport hills,cantoment so do not underestimate Ghanaians and do compare your house in Houston a house in East airport every country is different...
I can buy an $80,000 3 bedroom in Memphis,but cant get an $80k 3 bedroom house in Accra,too bad
@@princess_consuela_b Does Ghana really have a middle class considering the average income? It will take more than a lifetime to buy a modest dwelling unit
@@sirpatrick6073 - Location, location, location, and thanks for the comment 😊!
Greetings Expat Life Ghana, I am thinking that Accra Ghana is mostly reserved for business entrepreneurs, the affluent Ghanaians, government officials as well as those Ghanaians and others relocating or returning from the diaspora with loads of cash. With a 3 billion dollar IMF debt, something has to be done and the government and policy makers are or have been doing what’s necessary to pay off the national debt and fill their pockets I presume? Homes in South Korea are even more outlandish price wise, however, the cost of living in South Korea are much more higher than the cost of living in Ghana. Koreans have tons of Won and Dollars and my father taught me the financial debt based system as well as business maneuvers. Ayo, a shovel 😂😂😂…. Iinteresting conversation and thanks as always for sharing Tony and Ayo
Do you want to live there???thats the question.every one wants to buy land or house in Accra so it has to be expensive
@@rosaleetritt6402 Great question… Even though Africa is our ancestral home land, we have chosen to live in South Korea doing business for now. We do wish the Ghanaian people and diasporans the very best there in their endeavors, from what seen so far we will only be visiting Ghana in the future.
When you have a US Passport, that causes the Ghanaian Cedi, too Equal US Dollars.
It's going to get worse with all the foreigners flocking there even the outside areas will rise. You said it you guys are the cause! Every where in the poor carribean the same thing is happening, but I know there will be a rebellion when the real people who were born there cannot afford a home
Do not sleep on Kumasi - New International Airport. Temale - New International Airport, Cape Coast - Upcoming International Airport. Prampram area - Another hub coming. My mum bought and built in Tema community 11 when nobody wanted it, now the lands there are worth millions. Accra is too expensive as its the capital with no major commuter infrastructure. But it will change soon.
I am a ghanaian based in uk by the way.
The reasons are that
1. Africans and humans in general and greedy
2. Ghanaian don't display their income to people
3. Most houses in ghana are built but ghanaian living abroad as a result of soo many of hard labour
4. Move from accra to other part of ghana, get a local to lead get a land a built your own house
.Remember that ghana had gold, oil, minerals in abundance, some politicians instead of using it for the people they don't.
The best to get cheap land is properly volta region and northern region because they those people practice voodoo and they don't lie very often , they don't cheat because they scared of oracle
5. You just have to find the right people and things will fall in place.
6. Accra is a scam, very greedy and rootless people when it comes to their money but kind in heart,
7. Don't laugh with them too much because when you go broke they will start looking down on you and laughing at you in their head, most who are uneducated, their thinking pattern is different.
Ghana is my birth home, i love it but at the same hate it.
Stay in your lane and you will figure ghana.
Thank you for your comment! ❤️️👍😊
I am still trying to figure out Ghana.
But what is the percentage of foreigners in Accra in particular?
This is a puzzle our late Prez Rawlings could not solve even back in the eighties and nineties. At the time, the citizens were complaining and crying against his govt over hard economic hardships. However, as a pilot whenever he flies one of the air force jets around Accra he was shocked to see so many expensive houses being built all over the place. So, it is one of the mysteries of the world how these people who always complain of not having money on the basis of their meagre montly incomes are able to afford that kind of expensive housing market. The main difference to the equation is what I will termed the letter "C", and you can use it to form your own word to describe how the people are able to afford the expensive lifestyle with their small official monthly incomes.
You guys needs to study history...JJ took about 2acres of government's prime land in Accra to build private house...his wife owns some of the most expensive real estate in the country...specially in Accra.
The C from Cocaine?
@@okey9236 Unfortunately, I didn't say the former president was a saint. Neither was I talking about what he did or didn't do as a president. I was only making reference to what he said or observed at the time. Mr or Ms. Okey, is that sufficient for you? I didn't attempt to write history about or biography of Mr. J.J. Rawlings.
@@kofiboateng5509 but you where making accusations and referring to the so called C.....against people doing their legitimate business..
@@kofiboateng5509 the same accusations JJ uesd to justify destroying indigenous Ghanaians business and offloaded to his preferred people...friends and families
I saw a lady move brought a house two hundred twenty five thousand and she paid cash the guy she brought from all homes are cash only no financial
Those locations r home to Ghana’s top 1% earners. It’s the same everywhere. The income disparities in US is even worse. Compare the homes/locations of the top 1% earners in US with the homes in Texas. It is the same situation everywhere fam.
@@kofii567 - Don't know about the same everywhere and thanks for the comment 😊!
Houses are overpriced in Ghana.
Are teaching positions hard to find in Ghana
Move away from Accra and purchase a land in the Prmpram or Ningo area and build your own house. You can always build it cheaper by yourself than purchasing one of those unreasonably high-priced houses at Cantonment or Airport areas.
What real estate agent would recommend in Tema!!
@@zeplumber - bookings@expatlifeghana.com can help you with that, and thanks for the comment 😊!
This goes to show how even America’s middle class is “poor”. People owning a lot of these houses are rich rich Ghanaians. They are wayyyy above middle class. They’re millionaires!
@@newsyoucanuse177 -I'd slow down on that, and thanks for the comment 😊!
Lol… wow… rich rich!!!! We need to do something about the housing prices in Accra.
Its soooo not worth it. It’s the land lords being greedy
@@kwamenyame1277 who’s going to make the rich rich do anything. Hold your breath and see what happens
Where can I get that tshirt you are wearing?
@@tyswintonaustinrealtor597 - Here in Ghana, and thanks for the comment 😊!
Thank you for the info. Now I need to get my sons and brothers on board to plan a trip there.
In Ghana when people rich they don’t even want openly admit it 😅
That’s everywhere you don’t want people coming to use you it’s usually the “fake” rich who flaunt for attention
Honestly the prices for homes in South Africa are much less in terms of costs than homes in Accra. You honestly can get a very spacious, luxurious home loaded with amenities in an estate for $200k. , $300k plus you can really get extravagant homes there...
They also offer bonds ( mortgages) of up to 20 years..And personally you can access better value in that location SA or better roads, schools, hospitals etc
Real estate is based on location and I wouldn't want to pay more money to live in an expensive home in a place with poor infrastructure ..
Accra ought to be charging at least 45% less than what an equivalent house in the States would cost
But I still believe Ghana is a beautiful place..
I think building a home is the most affordable way to go in Accra
I want to rent in Tema. What are your recommendations?
@@zeplumber - Bring all your money and thanks for the comment 😊!
Housing can be build without spending a fortune 😢😢😢😢
I live in ghana and most of it is overpriced. Much more responsibly priced in south africa, kenya, rwanda, colombia,brazil, mexico, thailand, etc.
Ghana only had like 400 US dollar millionaires, even if I was a millionaire I would not pay for these overpriced homes.
Well, duh. The houses in Ghana are so expensive because of you guys.
Ghanaians, should be careful about foreigners buying homes and lands in their countries, they should regulate, here in Kenya we have lots of foreigners, but they don't buy properties as much as in Ghana they invest in businesses
I think government should do something about it Nigerian houses are very cheap compare to ghana, how are they meeting up ?
20USD = 250GHS not 2,000GHS
$20 USD a month teacher salary did sound strange
I suspect thatstnot true 200 USD is more like it
That's the lowest earning teachers
I know right! those prices on the internet are so crazy.
they should move in mass to the US.
yes. you guy are driving up the prices😵💫.
500,000 dollars, no that is high even in the states.
how do Ghanaians live? Different prices for people from outside Ghana? lol.
maybe it's really 500,000 Ghanaian cedi
Accra is expensive, broaden your research! There’s great opportunity down the coast and in other regions
@@thehouseofstrength - It is more than just buying a house or land. Good schools, entertainment, etc., and thanks for the comment 😊!
To Lure The Wealthy From Abroad. Steve Harvey, Dave Chappelle...
The wealthy rich people from US had nothing to do with it pls. It was always like that
So…I’m a teacher in the States. I make 120k per year. I want to live in Ghana full time at some point, but I want to start by spending my summers there. Can I afford to live in Accra?
@@mariejones1347 - Sure, and thanks for the comment 😊!
You're right about the insane house prices. Here is some speculation. The construction materials here are more expensive. U.S. and Canadian are stick frame. Throw 'em up and move on. The houses here are cement block construction and typically multi-story - 2 or even 3 stories. Ten foot ceilings. Tile flooring. Every bedroom has an ensuite, etc, etc... Some form of backup-up power. It adds up. Also, the 98% of Ghanaians don't' live in East Legon or Cantonments or Ridge. Look elsewhere and the prices are much more reasonable. I think the prices in "desirable neighbourhoods" are definitely being ratcheted up by expats who want a central location, good schools, all the usual stuff we look for when nuying back home,
I suppose one piece of good news is that there are almost no costs after construction. Taxes and utilities on your dream house are ridiculously cheap post-construction. The bad news is that because of that you get almost no services. The roads go unrepaired for years! And the pipe water sometime comes ;-)
It's ridiculous, I said it almost 2years ago Ghanaian developers are getting too greedy, at some.point those houses will be too expensive, then they will stay empty because the quality is not the best. There are Africans countries with nicer homes than Ghana that also have beautiful landscpes.
It seems obvious that those expensive houses are not for the Ghanaians.
Do Africans who a re commenting even understand by definition who is middle class ? The middle class and tend to be the largest group of people in a country . They earn a middle income and tend to be teachers , police officers , nurses , secretaries , electricians, plumbers skilled factory workers and small business owners average salary $55,000 . Ghanaians will tell you that a person who bought a half a million dollar house for cash is middle class !!No they are not middle class ,that is rich!
I thought homes would be cheaper in Africa
You two are just too much! Out the 97.5% left you have an TINY percentage of extremely rich High Class, A small middle class and a lot poor people. And is all over African countries, with many upper middle classe living outside the countries. Many African Countries are really rich. Oil, Copper, Gold Agriculture but the few who really benefit of these ressources directly can afford these houses. Some returnees also can afford but when there will be no demand or no Clients maybe they will stop asking for high prices. But some these Houses are really beautiful though. . Thank for keeping us informed and entertained. A bientôt
Is Accra the new Mahattan, New York???
@@theresacobb7606 - Love that! Thanks for the comment ❤️️🇬🇭❤️️.
@@ExpatLifeGhana can I build a 2 bedroom 2.5 bathroom loft for $50K USD, will it take 5yrs or morer to do so?