The Executive Director of the Ghana Real Estate Developers Association (GREDA), Samuel Amegayibor, has attributed Ghana’s persistent rent advance challenges to the growing imbalance between housing demand and the limited supply of rental accommodation.
Speaking on Atinka TV’s Ghana Nie Lifestyle segment with Mrs Ama Gyenfa, Amegayibor explained that the shortage of rental housing continues to give landlords the upper hand in the market.
“Housing demand far exceeds the supply of rental accommodation,” he stated, stressing that increasing housing stock remains key to addressing the country’s rental crisis.
Touching on property protection, the GREDA Executive Director advised tenants to take responsibility for insuring their personal belongings, noting that landlords typically only insure the buildings they own.
“Landlords insure buildings; tenants should insure their possessions,” he said.
Amegayibor also highlighted that the practice of paying rent in advance is not limited to private individuals, revealing that even public institutions often make substantial advance payments for staff accommodation.
“Even government institutions often pay up to two years’ rent in advance for their workers,” he disclosed.
His comments form part of the ongoing national conversation on housing affordability and rental reforms, as stakeholders continue to advocate for policies that will increase housing supply and improve access to affordable accommodation across Ghana.
