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business information of Saturday, 31 August 2019

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Dr James Orleans-Lindsay, the executive Chairman of J. L. Holdings Ghana, has known as on avid gamers in the true property industry to make prices of their residences reasonable for citizenry to find the money for.

He observed excessive costs have been putting homes beyond the reach of many individuals, making it problematic for trade players to market their products.

Dr Orleans-Lindsay said this at a seminar organised by way of the Chartered Institute of marketing Ghana (CIMG) in Accra dubbed: “evening with Dr James Orleans-Lindsay.”

The seminar held on Thursday on the theme: “marketing within the precise estate Sector: Pricing and Affordability,” provided a platform for business avid gamers and stakeholders to deliberate on the challenges they faced in addition to measures critical to manage them.

Dr Orleans-Lindsay explained that residential houses were on the whole priced in line with area, number of bedrooms, designs and nice of materials used.

At ‘high end’ locations like Cantonment, East Legon, Osu, Ridge, Airport Residential enviornment, Dzorwulu, Ringway, East Airport and West Legon, he said, commonplace home expenses ranged from $225,000 to $1,750,000 while, ‘mid end’ areas like Achimota, Shiashie, Spintex and a few ingredients of Tema had average home expenses starting from $eighty five,000 to $450,000.

then again, ‘decrease end’ locations like Madina, Oyibi, Klagon, Darkuman, Ablekuma, Afienya, Kasoa, Adenta, and Weija have usual home costs between $20,000 to $250,000.

Dr Orleans-Lindsay said research showed that the least priced two-bed room condominium discovered in the marketplace became about $28,000 and $55,211 respectively.

“It potential about 80 per cent of Ghanaians won’t be in a position to come up with the money for mortgages, meanwhile, without safeguard, the inhabitants would have an issue.

“If one makes use of above 30 per cent of earnings to provider a property such as a house or pay employ monthly, then that apartment is not cost effective,” he observed.

The truth, he spoke of, became that it would be problematic for private true property developers to supply reasonably priced housing for the public in the course of excessive inflation and hobby fees coupled with increment of prices of building substances.

He, hence, counseled executive for efforts to promote the personal loan device and using locally sourced raw substances in the industry.

The government Chairman recommended industry gamers to take potential of the digitized era to promote their residences.

research, he spoke of, had proven that there's 620,000 each day click on the web through individuals to search for residences, adding that, billion out of the over billion americans on earth use digitization, hence the deserve to make good use of the chance.

He mentioned challenges akin to debt financing prices, can charge of constructing substances, land acquisition problems, and insufficient supporting infrastructure as probably the most challenges that restrained the growth of the trade.

To take care of the challenges, he counseled that business gamers rely on artistic options, exchange americans’s belief of not pricey housing, enable expertise intervention and state intervention and make getting to know a key step to develop.

Mr Kojo Mattah, the countrywide President of the CIMG, emphasised that land acquisition problems were so normal among precise estate builders such that from time to time they loss count of the number of times the identical land changed into sold to them.

He recommended patrons of homes to keep in mind a way to hold the apartment after years and if the apartment could still be valuable to them at their older age.

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