, , , , , , , , , ,

Reflex Eco Group – Ghana News

by Cephas Larbi (Local Journalist)

Average prices of houses in Accra seem to follow a global trend, as most houses are expensive in the national capitals as compared to other parts.

Data compiled by Tonaton.com, a local online marketing firm, revealed that the average house in Accra cost GH¢315,000, which is 12 percent more than the national average.

The average price of a house in Kumasi, according to the Tonaton.com, for instance, is GH¢220,000, which is about 21 percent below the national average pegged at GH¢280,000.

Sekondi-Takoradi and Cape Coast have the least expensive houses in sub-urban Ghana averaging GH¢180,000 and GH¢120,000 respectively and they represent 35 percent and 57 percent below the national average.

The figures are based on a collection of data of the houses listed on Tonaton.com by individuals and businesses for outright sales between May and July 2013.

According to the data, the most expensive areas in Accra could be found at Airport Residential Area, East Legon and residential areas on the Spintex Road where average house prices on the website are GH¢950, 000, GH¢800, 000 and GH¢600,000 respectively.

Kwabena Opoku-Boakye, Marketing Manager for Tonaton.com, said the least expensive houses on the other hand may be obtained at Kwabenya, Abokobi and Madina.

He said a prospective buyer could get a property in any of these areas at an average price of GH¢245,000, GH¢210, 000 and GH¢200,000 respectively.

“It is worthy to note that a large percentage of these prices quoted by sellers on the website are negotiable,” he noted.

Mr. Opoku-Boakye said between April 2013 when website was officially launched and July 2013, there has been an increase in the monthly number of listings of property advertisement by 306 percent.

He said between May and July 2013, about 5,234 properties were advertised for sale on the classified ads site Tonaton.com alone.

He also said about 85 percent of the total number of uploaded properties were from the Greater Accra Region.

Opoku-Boakye said, “The purpose of such an analysis is that we want to be part of creating a more transparent property market in Ghana. Prospective buyers, who are interested in houses in Accra but are on a tight budget may want to know what the market price is in the other cities.”

He said high internet penetration in the country has helped more people to use the web to buy and sell properties, adding “both new and old houses have found a new marketplace in the digital world.”

“There was once a time when people used to go looking for houses to buy and apartments to rent. But with the heavy traffic in the cities today, coupled with high transportation costs, people can neither afford the time nor the expense of travelling to find that perfect home,” Mr. Opoku-Boakye said.

He said, “Having an online marketplace such as Tonaton.com offers people the opportunity to see a wide variety of property options and do an extensive research before they shortlist what to physically visit and review.”

Mr. Opoku-Boakye said “sellers are realizing the advantage of posting their ads online knowing that they can reach a large number of people efficiently.