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Determining House Prices in Data-Poor Countries: Evidence from Ghana

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  • Kingsley Tetteh Baako

    (RMIT University)

Abstract

In many developing countries, house price index construction is sparse, leaving decisions which hinge on housing performance data with little corroboratory evidence. Thus, the purpose of this research is to ascertain the micro-level determinants of house prices in Ghana. Using a qualitative approach, data are collected through semi-structured interviews with twenty expert property practitioners including valuers, academics, property developers, mortgage providers and housing agents. This research uncovers interesting findings including the relevance of unexpired lease terms, and the impacts of market dynamics such as the physical heterogeneity of properties and hearsay. The study also reveals that an index needs to be created and managed through a collaborative effort between the government and industry to ensure wide acceptability. This study lends guidance to housing policy decisions at the local and national levels, and provides a much-needed source of data for further academic inquiry into the housing dynamics in Ghana.

Suggested Citation

  • Kingsley Tetteh Baako, 2019. "Determining House Prices in Data-Poor Countries: Evidence from Ghana," International Real Estate Review, Global Social Science Institute, vol. 22(4), pages 571-595.
    • Handle: RePEc:ire:issued:v:22:n:04:2019:p:571-595
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    References listed on IDEAS

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    Cited by:

    1. Kwabena Mintah & Rejoice E. A. Churchill & Kingsley Tetteh Baako & Godwin Kavaarpuo, 2022. "Self-rated Health and Housing among Indigenous Australians," Journal of Economics, Race, and Policy, Springer, vol. 5(3), pages 181-193, September.

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    More about this item

    Keywords

    House Price Determinants; Ghana; Residential Valuation; Automated Valuation; House Price Modelling;
    All these keywords.

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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