Is Accra A Superstar City?

Buckley, Robert M.; Mathema, Ashna S.

doi:10.1596/1813-9450-4453

Cited by 10 publications

(3 citation statements)

References 24 publications

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“…Overall, the study concludes that the informal and formal residential markets in Ghana are closely connected in pricing and performance, but it falls short to track price and rental changes over time. On a broader scale, Buckley and Mathema (2007) examine the informal housing markets in Accra (Ghana), Dar es Salaam (Tanzania), Addis Ababa (Ethiopia) and Nairobi (Kenya). The research suggests that Accra has the lowest elasticity of housing supply of the markets covered, leading to higher prices and the exclusion of middle‐income and low‐income earners from the market.…”

Section: Literature Reviewmentioning

confidence: 99%

The Ghanaian transaction‐based residential indices

Anim-Odame

Key

Stevenson

2010

International Journal of Housing Markets and Analysis

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PurposeThe purpose of this paper is to provide technically robust indicators of housing market performance from the records held by the Ghana Land Valuation Board, through the construction of the first ever residential price and rent indices for the aggregate and disaggregate markets.Design/methodology/approachThe approach involved time series produced from hedonic models using 3,250 transaction‐based data, running from 1992 to 2007, and documents on movements in capital and rental values in Accra and Tema, the dominant commercial conurbations in the country.FindingsThe paper makes a major contribution to knowledge and understanding of housing market dynamics in Ghana. The results suggest that the derived price and rent indices look, at first sight, reasonably plausible with cyclical trends showing weak and strong patches.Originality/valueThe paper focuses on the development of formal housing markets through a detailed case study of Ghana, and provides findings and models of a wider application in other emerging economies.

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Section: Literature Reviewmentioning

confidence: 99%

The Ghanaian transaction‐based residential indices

Anim-Odame

Key

Stevenson

2010

International Journal of Housing Markets and Analysis

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“…Constrained by access to recorded data, Antwi (2002) conducts a survey to generate primary data, and uses hedonic regression on land sale prices. Buckley and Mathema (2007) examine the informal housing markets in Accra, Ghana; Dar es salaam, Tanzania; Addis Ababa, Ethiopia; and Nairobi, Kenya, and suggest that Accra has the lowest elasticity of housing supply of the markets covered, leading to higher prices and the exclusion of middle-income earners from the market. Antwi and Omirin (2006) estimate movements in rental values, capital values and yields in the informal residential markets of Accra-Ghana and Lagos-Nigeria.…”

Section: Literature Reviewmentioning

confidence: 99%

Residential market development in sub‐Saharan Africa

Anim-Odame

Key

Stevenson

2010

International Journal of Housing Markets and Analysis

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Purpose -There is a general consensus that residential submarkets exist, but the basis upon which these are specified remains the subject of debate. The purpose of this paper is to model data on different residential locations in Ghana to show how the submarkets have performed over the past 16 years. Design/methodology/approach -The paper employs hedonic modelling based on 3,250 sale transactions and 1,130 rental transactions from 1992 to 2007. Findings -The results demonstrate that five residential real estate characteristics -location, detached, landscaping quality, gross internal areas and plot size -predominate in the explanation of both rental and transactions prices across all submarkets. They also highlight points of variation between the submarkets. An understanding of the impact of these features on residential price and rent is important for capital and rental valuation. Originality/value -This paper analyses historic performance of the residential market, both at the aggregate and disaggregate level to place the housing market in an investment context.

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“…In Accra, because of legal ambiguities such as lack of documentation and poor boundary definition, private parties are reluctant to invest in the existing housing stock. As a result, Accra qualifies as a "superstar city," in which a highly inelastic housing supply is pricing lower-and even middle-income groups out of the market (Buckley and Mathema 2007). One report calculates that the backlog of demand for formal housing units in Accra has reached 500,000, with an additional 14,000-16,000 units required each year (referenced by World Bank 2007b).…”

Section: Failure To Strengthen Systems For Land Deliverymentioning

confidence: 99%

From farm to firm: rural-urban transition in developing countries

Dudwick¹,

Hull²,

Katayama³

et al. 2011

Choice Reviews Online

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The World Bank work program on rural-urban transformation, co-sponsored by the Poverty Reduction and Economic Management (PREM) Network and Sustainable Development (SD) Network vice presidencies, spanned two years, from mid-2008 to mid-2010, and benefited from the contributions of development analysts and practitioners from the World Bank and other international organizations and academic institutions. The authors would like to thank the Poverty Reduction and Equity Group, led by Ana Revenga, sector director, Jaime Saavedra, sector manager, and Louise Cord, former sector manager, and the Finance, Economics, and Urban Department, led by Zoubida Allaoua, sector director, for their ongoing support of this work program. Special thanks go to Marisela Montoliu, who initiated the cross-sectoral work program as head of the Spatial and Local Development team in the SD Network. Her intellectual leadership and hands-on engagement throughout the research and writing process-including her own contribution of the overview chapter-enhanced the relevance and impact of the work program. The authors also gratefully acknowledge the substantial contributions of the panel of peer reviewers

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Is Accra A Superstar City?

Cited by 10 publications

References 24 publications

The Ghanaian transaction‐based residential indices

The Ghanaian transaction‐based residential indices

Residential market development in sub‐Saharan Africa

From farm to firm: rural-urban transition in developing countries

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