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enterprise news of Saturday, 31 August 2019

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Dr James Orleans-Lindsay, the government Chairman of J. L. Holdings Ghana, has called on gamers within the precise property industry to make fees of their properties moderate for citizenry to come up with the money for.

He stated high fees have been inserting residences beyond the reach of many americans, making it intricate for trade avid gamers to market their products.

Dr Orleans-Lindsay referred to this at a seminar organised through the Chartered Institute of advertising and marketing Ghana (CIMG) in Accra dubbed: “evening with Dr James Orleans-Lindsay.”

The seminar held on Thursday on the theme: “advertising in the precise property Sector: Pricing and Affordability,” supplied a platform for business players and stakeholders to deliberate on the challenges they faced in addition to measures fundamental to control them.

Dr Orleans-Lindsay defined that residential properties were by and large priced in keeping with place, variety of bedrooms, designs and first-rate of materials used.

At ‘excessive end’ areas like Cantonment, East Legon, Osu, Ridge, Airport Residential enviornment, Dzorwulu, Ringway, East Airport and West Legon, he pointed out, commonplace home expenses ranged from $225,000 to $1,750,000 while, ‘mid conclusion’ areas like Achimota, Shiashie, Spintex and a few elements of Tema had typical home expenditures starting from $85,000 to $450,000.

then again, ‘reduce end’ places like Madina, Oyibi, Klagon, Darkuman, Ablekuma, Afienya, Kasoa, Adenta, and Weija have standard home fees between $20,000 to $250,000.

Dr Orleans-Lindsay pointed out analysis confirmed that the least priced two-bedroom apartment found in the marketplace became about $28,000 and $fifty five,211 respectively.

“It ability about 80 per cent of Ghanaians received’t be capable of have the funds for mortgages, in the meantime, without defend, the inhabitants would have a problem.

“If one uses above 30 per cent of income to carrier a property corresponding to a residence or pay appoint month-to-month, then that house is not within your means,” he said.

The fact, he stated, became that it will be complicated for personal true estate builders to deliver low in cost housing for the general public in the course of high inflation and hobby charges coupled with increment of costs of building materials.

He, hence, recommended govt for efforts to promote the mortgage system and the use of in the neighborhood sourced raw substances in the business.

The executive Chairman recommended industry avid gamers to take advantage of the digitized period to advertise their houses.

research, he noted, had shown that there is 620,000 day by day click on on the web by means of individuals to search for residences, including that, billion out of the over billion individuals on earth use digitization, therefore the should make first rate use of the opportunity.

He mentioned challenges such as debt financing fees, charge of building materials, land acquisition complications, and inadequate helping infrastructure as some of the challenges that restrained the boom of the trade.

To cope with the challenges, he counseled that industry players count on inventive options, alternate individuals’s perception of good value housing, permit technology intervention and state intervention and make studying a key step to enhance.

Mr Kojo Mattah, the national President of the CIMG, emphasised that land acquisition problems have been so commonplace amongst true estate developers such that now and again they loss count number of the number of instances the identical land changed into offered to them.

He informed consumers of properties to have in mind a way to hold the condo after years and if the apartment might nevertheless be advantageous to them at their older age.

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