Traditionally, Ghana’s housing market consisted of mansions or humble dwellings. As it is now becoming an emerging economy, and the middle class is expanding, there is a consistent increase of need for mid-range housing.
There are efforts being made by both foreign and domestic home-builders, to create and develop new housing, but the deficit still continues to be a major problem in Ghana.
Corporations, businesses and organizations are beginning to base their regional offices in Accra, thus additionally increasing the need for housing. Along with that, most expatriates who are not investing long-term choose to rent.
Another issue and big contributor to the housing problem is the fact that Ghanaians who are not eligible for a mortgage loan, and cannot pay for a home in cash, are forced to rent property.
An allegedly corrupt Rent Control Department
Ghana’s Rent Act of 1963 and Rent Control Act of 1986 were passed to protect tenants from arbitrary increases in rent and frequent evictions by their landlords. The Rent Control Department is under the Ministry of Water Resources, Works and Housing and is responsible for resolving disputes between landlords and tenants, but is notorious for being inefficient and corrupt. Accusations and more information can be found in this November 2011 article published by Ghana Business News.