Since Ghana grew to become unbiased in 1957 its inhabitants has grown quickly. First measured in 1960 at 6.7 million, by December 2013 it had reached 25 million. This price of inhabitants development, mixed with the inevitable city drift in creating economies, has had the impact of pushing up the price of land and housing in all city areas and particularly within the two greatest cities: Accra and Kumasi. The story of 1 small home began in Kumasi in 1983 bears testimony to the general pattern.A 12 months earlier than the plot was bought it was on supply at 30,000 Ghanaian cedis, however by 1983 the going value had already doubled. The 60,000 cedis paid then had a practical free market worth of about $500. A second adjoining plot bought in 1986 price 180,000 cedis. It was already clear that stress was rising quickly on accessible constructing land in location, on this case on a delicate hillside with a protracted view close to to the College of Science and Know-how with easy accessibility to the campus.
The plot was giant by later requirements, measuring roughly 58 by 55 metres or about one third of a hectare. A tough plan had been drawn up by the proprietor however an architect was employed to organize working drawings. Each the architect and the surveyor had been lecturers on the close by college and aware of native requirements and situations. They’d labored collectively on many comparable constructing initiatives. The three-bedroom bungalow was a really modest construction by present native requirements however it was hoped to maintain prices low and development time as quick as doable.Though constructing development started earlier than the tip of 1983 it was the tip of 1986 earlier than it was accomplished. The home was the primary to be accomplished within the space and was considered having been constructed shortly. A number of close by plots had been activated however their extra spectacular multi-storey buildings progresses extra slowly, presumably ready for funds to turn into accessible for every stage of development.
The home was used solely on occasional visits to Ghana and remained unoccupied for lengthy durations. Sustaining the constructing grew to become an issue, and in 2015 an analysis was carried out with a view to promoting. An area property supervisor estimated that the worth of the plot, the land alone, had now reached 200,000 new cedis, equal to 2000 million previous cedis or about $53,000. Thus over 32 years, the land had elevated in greenback worth by over 100 occasions. Little doubt the client may have a long-term plan to construct a mansion on the plot and the times of the little home are numbered.