Ghana’s real estate sector observed a growth to GDP upsurge in 2019 but has since been declining gradually to a projected 10 percent in 2021 from the 19.9 percent in 2019.
In the medium term, the subsector growth to GDP has been projected to be at 7.5 percent, 6.1 percent, 6.0 percent and 5 percent in 2022, 2023, 2024 and 2025 respectively.
In terms of actual values of the activities of real estate services to GDP at current prices, the subsector has been improving in nominally from the GH¢3,555.5Million recorded in 2016 to GH¢10,992.0Million in 2020. More so, the figures have been projected to further go up to GH¢21,912.0Million in 2025.
The government has recognized the vital role of the sector and has therefore prioritise the real estate and housing sectors for strategic support in 2022 according the Finance Minister.
Source: Mohammed Bomanso Issah (Real Estate Times Africa)