High Rise: A Solution To Ghana’s Real Estate?

Vertical construction could ease pressure on land resources in Accra

Accra is growing at a rapid rate and is one of the biggest cities in Africa. In great respects, it is the engine of growth for much of the Ghanaian economy. Due to the heavy investment and allure of the city, it has led to a population boom over the decades.

In 1960, the entire population of Ghana was about  six million. Today, Greater Accra alone accounts for more than half the total population of Ghana in 1960. The country continues to experience a population boom, with an average growth rate of 2.5% annually. Worryingly, Accra’s growth rate is higher than the national average. It is instructive to note that a high population puts pressure on a country’s resources. For instance, the 2010 Population and Housing Census Report indicated that while Northern Region had a population density of 35 persons per square meter, Greater Accra recorded 1236 persons per square meter.

This has led to enormous pressure bearing on resources in Accra and its environs, especially in respect to housing. While the Northern Region has a total area size of 70,384 km2, Greater Accra pales in comparison with its 3,245 km2. So with the over four million people spread over this area, it is clear to see the challenge it poses in respect to availability of land.

In other parts of the world, the consensus has been to shift reliance on vertical construction, also known as high rise buildings. High rise buildings has helped maximize the land resources of many countries and it is time Ghana takes a keener interest in this phenomenon.

Research has shown that demand for high-rise living is increasing in Accra, offering a solution to the growing pressure on housing in Ghana’s capital.

According to data from leading property website, Lamudi, a third of online property-seekers are looking for apartments in the country’s largest city. In late 2014, over 30 percent of searches on Lamudi.com.gh were made for apartments for rent in Accra.

The trend towards apartment living comes as the city continues to see rapid growth. Due to heavy investment and the allure of the city, the population has boomed in recent decades, with Accra growing at a higher rate than the national average of 2.5 percent.Manet_2_opt

 

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  1. Pingback: High Rise: A Solution To Ghana’s Real Estate? | Ghana News

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