Given that Ghana grew to become impartial in 1957 its population has grown speedily. 1st calculated in 1960 at 6.7 million, by December 2013 it had arrived at 25 million. This level of inhabitants development, merged with the unavoidable urban drift in creating economies, has experienced the impact of pushing up the cost of land and housing in all city locations and in particular in the two greatest metropolitan areas: Accra and Kumasi. The story of a single compact home begun in Kumasi in 1983 bears testimony to the over-all development.
A year ahead of the plot was bought it was on offer at 30,000 Ghanaian cedis, but by 1983 the heading rate had by now doubled. The 60,000 cedis paid out then experienced a practical free market benefit of about $500. A 2nd adjacent plot obtained in 1986 cost 180,000 cedis. It was already apparent that pressure was raising fast on offered making land in a great place, in this case on a gentle hillside with a long view close to to the College of Science and Technologies with easy access to the campus.
The plot was huge by later on benchmarks, measuring somewhere around 58 by 55 metres or about one particular 3rd of a hectare. A rough approach experienced been drawn up by the operator but an architect was employed to get ready operating drawings. Equally the architect and the surveyor had been lecturers at the nearby college and acquainted with community specifications and conditions. They had labored jointly on several comparable creating jobs. The 3-bed room bungalow was a quite modest framework by latest regional specifications but it was hoped to preserve fees small and design time as short as possible.
While constructing construction began before the finish of 1983 it was the end of 1986 right before it was concluded. The home was the first to be accomplished in the region and was regarded as owning been built speedily. A number of nearby plots had been activated but their much more extraordinary multi-storey buildings progresses far more slowly, presumably ready for money to develop into out there for each stage of building.
The property was utilised only on occasional visits to Ghana and remained unoccupied for very long durations. Sustaining the making became a trouble, and in 2015 an evaluation was conducted with a see to marketing. A area assets manager believed that the value of the plot, the land by itself, had now attained 200,000 new cedis, equal to 2000 million previous cedis or about $53,000. Consequently about 32 several years, the land had amplified in greenback benefit by above 100 moments. No doubt the consumer will have a lengthy-term strategy to create a mansion on the plot and the times of the minor residence are numbered.