A market research study for the development of container housing units for the Ashesi community
A new real estate developer is seeking to build container housing units as housing accommodation for students, staff and faculty of Ashesi University College, one of Ghana’s leading private universities. To fulfill this, the developer needs to have knowledge of the target market, trends in existing housing accommodation and understand the potential of their project compared with competitive developments. Thus, the goal of this project is to conduct a market research study to provide insights into the Ashesi community to aid in the redefining of the developer’s idea, opportunities within the target market and challenges that can be pre-empted. In conducting this market research, data was sourced from the Ghana Building Code; a building technologist; an architect; a design enthusiast; an operations manager and current and potential users of this development. Research methods took the form of literature reviews, desk research and guided interviews. It was found that for a developer considering constructing housing accommodation would have to mimic to an extent the features that currently exists in competitive developments. References to existing features in the various competing developments is to aid the client in understanding buyers’ expectations. Also, the dominant influencing factors for housing were price, proximity to the Ashesi University Campus and availability of desired amenities. Majority of student respondents were willing to pay between 2,500 - 4, 500 cedis and majority of the staff and faculty who partook in this research were willing to pay below 500 cedis for a housing unit constructed from containers.
Applied project submitted to the Department of Business Administration, Ashesi University, in partial fulfillment of Bachelor of Science degree in Business Administration, April 2018
Berekuso, housing, container, market research, Ghana, Ashesi University