Residential market development in sub‐Saharan Africa

Wilfred K. Anim‐Odame (Land Valuation Division, Lands Commission, Accra, Ghana)
Tony Key (Cass Business School, City University, London, UK)
Simon Stevenson (Cass Business School, City University, London, UK)

International Journal of Housing Markets and Analysis

ISSN: 1753-8270

Publication date: 5 October 2010

Abstract

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.

Keywords

Citation

Anim‐Odame, W.K., Key, T. and Stevenson, S. (2010), "Residential market development in sub‐Saharan Africa", International Journal of Housing Markets and Analysis, Vol. 3 No. 4, pp. 308-326. https://doi.org/10.1108/17538271011080637

Download as .RIS

Publisher

:

Emerald Group Publishing Limited

Copyright © 2010, Emerald Group Publishing Limited

To read the full version of this content please select one of the options below

You may be able to access this content by logging in via Shibboleth, Open Athens or with your Emerald account.
To rent this content from Deepdyve, please click the button.
If you think you should have access to this content, click the button to contact our support team.