Ghana places 4th Most Expensive Country to Rent Accommodation in Africa
In the latest ranking of African nations with the highest real estate rental prices in 2024, Ghana has secured the fourth spot.
The statistical data aggregator, Mustard Insights, reveals that renting accommodation in Ghana is more affordable than in just three other countries on the continent: Nigeria, Seychelles, and Senegal.
In the realm of exorbitantly priced accommodation rentals in Africa, Nigeria claims the top position, closely followed by Seychelles, Senegal, and then Ghana.
Trailing behind Ghana in the top ten most expensive places to rent accommodation in Africa are Ivory Coast, Tanzania, Libya, Rwanda, South Africa, and Ethiopia. Conversely, at the opposite end of the spectrum, Algeria clinches the title of the most economically viable location for accommodation rentals on the continent.
This ranking positions Somalia, Tunisia, Egypt, Cameroon, Zambia, Uganda, Morocco, Zimbabwe, and Kenya in descending order in terms of affordability. The rankings underscore the relative affordability of accommodation in even Somalia, a nation characterized as a failed state, compared to Ghana.
The authors of the ranking attribute the high cost of accommodation to various factors such as urbanization, population growth, and immigration, with housing deficit emerging as a critical issue.
Official data from the Ghana Statistical Service (GSS) highlights a national housing deficit of 1.8 million, indicating a significant reduction from the 2.8 million recorded in 2022.
Despite ongoing efforts to address this shortfall, Ghana must intensify its strategies to effectively eliminate the housing deficit.
Over the last five decades, Ghana’s housing deficit has experienced a steady increase, escalating from 1 million in 1950 to 2.8 million in 2010, as reported by the GSS. Efforts to mitigate this crisis require sustained attention and innovative solutions to ensure adequate housing for all citizens.