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The Nascent Residential Investment Market in Ghana

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  • Wilfred Anim-Odame

Abstract

Globalization of all forms of real estate investment has increasingly demanded that performance benchmarks of high quality and international standards be made accessible to investors and fund managers. For the first time in Ghana, residential price and rent series are developed from hedonic models. These time series are used to generate other performance indicators—measures of investment yields and total returns (nominal and real)—in a rapidly growing residential real estate market, using transaction-based data from Accra and Tema. Overall, residential total returns have run at annualized rate made up of a relatively stable income return and highly volatile capital growth between 1992 and 2007. Across investment markets, the differences in long-run returns have been in large part driven by variation in rates of rental value growth.

Suggested Citation

  • Wilfred Anim-Odame, 2012. "The Nascent Residential Investment Market in Ghana," Journal of Real Estate Literature, Taylor & Francis Journals, vol. 20(2), pages 289-303, March.
    • Handle: RePEc:taf:rjelxx:v:20:y:2012:i:2:p:289-303
    DOI: 10.1080/10835547.2014.12090320
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