Investigating whether Ghana’s real estate market Is at risk of facing a USA-style housing market crash

Date
2021-05
Authors
Lomoh, Jasmine Atswei
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Abstract
Ghana’s real estate market is a very import [sic] industry that help boost the economy of Ghana. Studies have shown that a lot of investors are coming into to Ghana; this can boost the the economy of Ghana and create more jobs for the citizens of the country. However, from a report by the Bank of Ghana (2007), developers that used Mortgaging as a source of financing, faced difficulties paying back raising concern given the historical challenges in housing financing in developed countries like the USA. The questions this research tackles are: is the Ghanaian real estate market at the risk of suffering a USA-style housing market crash? What are the risks of investing in the real estate market in Ghana? The research objectives are as follows To Analyse trends and developments in the Ghanaian real estate market; To Investigate the causes and consequences of the US Housing Crisis; To Identify differences and similarities between trends in the Ghanaian and US Housing Market and to Learn some lessons from the US Housing Market Crash to prevent a similar occurrence in Ghana. A mixed method approach was used for this research with a sample size of 60 for the quantitative part and eight interviews in all. The results for this research showed that Ghana’s main housing problem was the pricing of houses and land disputes. And the Interviews showed that the chances of Ghana experiencing a USA housing style market crash were unlikely but only possible if the [sic] was a global crash.
Description
Undergraduate thesis submitted to the Department of Business Administration, Ashesi University, in partial fulfillment of Bachelor of Science degree in Business Administration, May 2021
Keywords
residential market , volatility , property owners
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