Why Investment Is Not Making Housing Affordable in Ghana

A wide affordability gap

About 56.7 percent of Ghana’s population lives in urban areas, but effective purchasing power remains far below housing need. That limits the reach of private developers and conventional mortgage lenders.

Public financing and access

At a housing finance conference, President John Dramani Mahama announced one billion cedis, about $85m, for the National Housing Fund in the 2027 budget. He also pointed to barriers facing informal-sector workers, who may earn regularly but lack payslips and conventional banking records.

Housing Minister Ahmed Ibrahim called for more private-sector involvement in affordable housing and mortgage finance. Bako Ambianda of Backbone Capital Ventures said demand exists, but converting it into viable housing projects is difficult.

Costs confronting developers

GREDA executive director Samuel Amegayibor named finance and secure land as major obstacles. Developers may also need to pay for electricity and water connections and access roads before construction, adding costs that can feed into home prices.

Rent and household expenses

Around 70 percent of Ghanaians are in the low- and middle-income bracket, while much new housing targets higher earners. NeuraHomes co-founder Isaac Ayitey Chris-Quaye said smart-home features can be added gradually, helping residents monitor energy use and improve security.

Potential savings, uncertain payback

Chris-Quaye cited a case where property managers cut annual energy costs by 20 percent, with the system paying for itself within four years. He estimated that a typical Greater Accra household could save 330 to 810 cedis a year, or about $28–69.

The added cost of a coating is estimated at 120 to 500 cedis, about $10–43, per pack of 20 roofing sheets. Payback depends on energy use, installation costs and electricity tariffs, so savings may vary.