General Assessment

    Variable(2017)
    Data
    Main constraints in the development of the housing finance sector Challenges to the growth of Ghana's mortgage market include a current Monetary Policy Rate of 26%, an economic slowdown, and an average mortgage of US$68,000.
    New developments that will have a major impact on the sector 
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    Notes: 2000 estimate
    Notes: 2000 estimate
    Notes: "Rate offered by commercial banks on three-month time deposits."
    Notes: "Rate offered by commercial banks on three-month time deposits."
    Notes: "Rate offered by commercial banks on three-month time deposits."
    Notes: "Rate offered by commercial banks on three-month time deposits."
    Notes: 2000 estimate
    Notes: 2000 estimate
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: Capital gains are taxed at a rate of 15%. The taxable amount is calculated as the sale price minus acquisition cost and other costs (such as renovation and legal).
    Notes: Credit Referencing Bureaus include XDS Data, Hudson Price, and Dun & Bradstreet
    Notes: Credit Referencing Bureaus include XDS Data, Hudson Price, and Dun & Bradstreet
    Notes: First mortgage backed security was approved by SEC in 2013.
    Notes: Funding from corporate bonds.
    Notes: Funding from corporate bonds.
    Notes: Funding from corporate bonds.
    Notes: Ghana Home Loans controls ~50% of the market
    Notes: IFS note: "Rate at which the Bank of Ghana makes advances against treasury bills. A rate of one percent higher is used in discounts of direct credit to business. There are no quantitative limits on credit to banks at the discount rate. The volume of these operations is relatively small. " End of Period
    Notes: IFS note: "Rate at which the Bank of Ghana makes advances against treasury bills. A rate of one percent higher is used in discounts of direct credit to business. There are no quantitative limits on credit to banks at the discount rate. The volume of these operations is relatively small. " End of Period
    Notes: IFS note: "Rate at which the Bank of Ghana makes advances against treasury bills. A rate of one percent higher is used in discounts of direct credit to business. There are no quantitative limits on credit to banks at the discount rate. The volume of these operations is relatively small. " End of Period
    Notes: IFS note: "Rate at which the Bank of Ghana makes advances against treasury bills. A rate of one percent higher is used in discounts of direct credit to business. There are no quantitative limits on credit to banks at the discount rate. The volume of these operations is relatively small. " End of Period
    Notes: In 2016 the government began a project to produce 5,000 units, 40% of which are to be sold at subsidized rates for low- and middle-income earners. As of 2017, 1,500 units were completed
    Notes: In terms of % of number of lenders, not market share
    Notes: In terms of % of number of lenders, not market share
    Notes: In terms of % of number of lenders, not market share
    Notes: In terms of % of number of lenders, not market share
    Notes: In terms of % of number of lenders, not market share. GHL is a non-bank financial institution and mainly sources capital from development finance institutions, such as DEG, a German project financier. In July 2016, a provisional banking license was issued to the mortgage lender.
    Notes: In terms of % of number of lenders, not market share. GHL obtained its banking license in 2017.
    Notes: Property tax is levied at a rate of 0.5 to 3%
    Notes: Rental income is taxed at a rate of 8% for residential properties.
    Notes: Republic Bank and GHL Bank have previously relied on multilateral agencies (World Bank, IFC) to raise funds
    Notes: There is a stamp duty fee of 0.25 to 1% that is paid by the buyer. This is a progressive rate that depends on the value of the property.
    Notes: These are rent-free houses.
    Notes: Treasury Bills discounted.