Dream Realty: Challenges of the Real Estate Market in Ghana by Karim Ibrahim

Karim Jamil Ibrahim, Managing Director of Dream Realty, explains what are the main challenges to be faced by the real estate market in Ghana.

“As always, we hope the interest rate will go down because this will generate more customers and people can take out easier loans from banks to afford buying an office or an apartment or a car. Interest rates are still too high in Ghana. I do not follow politics much, so I do not know if the government is trying to do something about it. The country has faced some challenges in the past few months with banks that had real problems. We understand from the news that these problems have been tackled and should not occur again. It is not good for Ghana as a country to hear that five banks collapsed within only a few months. I do not know whose fault it was, but I hope that the government is doing something about it. I hope that more initiatives will be taken to bring interest rates down so that people like us do not need to go abroad to get finances for development, so that we can use local banks, and let everything connect and the economy continue growing as it should be. We should let the government keep doing what they are doing. They are on the right track. Eventually, these policies will reflect internally, and we will see a nice boom in 2019 and before 2020. Unfortunately, in West Africa and every country, if there is an election, the country dies that year economically. Most countries in West Africa are going into an election year in 2020. So, let’s hope for the best”, says Karim Ibrahim.

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