Affordable Housing Project

By Francis Tandoh || Roger A. Agana || Nana Appiah Acquaye

The government has been urged to review the existing rent act that prevents property owners from taking more than 6 months? rent advance in the country.housing in Ghana

Mr. Leslie Ado, Director for Crown Regency Limited, an Estate Developing and Property Consulting firm said the review will help make housing affordable to the people.

He told in an exclusive interview the violation of the law by many property owners was one of the factors that had contributed to making housing expensive in the country.

?One of the things I picked up in Ghana is that rents are always paid for 1 year, 2 years, 3 years rent in advance even though, the law actually states that you cannot take more than 6 months of rent in advance so I think we need to look into this again and try and get the government to implement a law to stop landlords from charging so much.?
The Estate Developer and Property Consultant disclosed plans were far advanced for his firm to introduce the system that is being used in the United Kingdom in which property owners charge three weeks rent advance and subsequently, occupants of their premises would be made to pay on monthly basis.

Such an arrangement, according to him would inure to the benefit of majority of Ghanaians who finds it extremely difficult to pay so many years of rent advance.

Mr. Ado is also urging the government and real estate developers to concentrate establishing industries and other residential areas outside of Accra since the national capital was too congested.

The Crown Regency Director said, ?What Ghana needs to do is we need to go outside of Accra, people don?t want to live outside here because obviously they still need to work in Accra driving 2 hours, 3 hours before coming to work.

Obviously, we need to put more industries outside of Accra so that people will stay there and work and not necessary come to Accra. We need to put businesses there as well to sustain such places. This cannot be done overnight, we need to start from somewhere.?

He asked the government and people to open up their arms and learn from the success stories of other countries.
?There is a lot that can be done for the people in Ghana and there is also a lot that can be learnt from the people outside Ghana. We have to take what?s working in other countries and implement them,? Mr. Ado remarked.
This year, he observed had been quite a challenging one for real estate developers in the West African country emphasizing the depreciation in the local currency affected their businesses.

Touching on plans of his outfit for 2015, the Director observed Crown Regency Limited will be launching the black star luxury apartment in the first week of January and also introduce a new magazine which will have more stories on Ghana regarding developments in the real estate sector.

Crown Regency is a luxury, prime sector Property Company with offices in London and Accra.

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