The housing sector like many others in the country lacks data. The absence of this makes it difficult for policy makers, investors, banks as well as industry players among others to take the right decision to address its numerous challenges.
However this is expected to be addressed following the launch of a housing data report.
The housing data report, which was compiled by a private firm housing data Ghana covers 2013 and the first half of 2014. It will be an annual report and will provide the necessary information of the sector.
It brings to bare the entire housing sector capturing the indigenous, foreign as well state developers and also captures employment creation that is the total number of workers currently employed in the sector (Including masons, carpenters, laborers, surveyors, architects and accountants among others.
The report also looks at the number of houses produced in 2013, indicating regional distribution and percentage of government and private sector contribution.
Sources of funding, cost structure, number of buyers via mortgage, sold and unsold houses, affordability range, and government initiatives among others are also contained in the report.
CEO of Housing Data Ghana Limited Kelvin Kwaku Yeboah tells Citi Business News some of the challenges they faced in putting together the report.
“I think as a country, there is that lack of trust which hampered our work greatly when gathering information for this report. But I have always maintained that if someone comes to you for information, it is expected that you do your checks to know genuine the firm or the person is, having done that you go ahead whether or not to release the said information. Because some of abused information some even felt that we were serving as a link for government for revenue purposes.”
He also outlined why one should have the 2013 Housing Data report and says it product will be consistent.
“The fundamental premise for undertaking any economic venture requires data and so to the businessman data is the key, the fuel that powers the businesses and it’s also helps in getting competitive advantage within the industry. It’s also recognizes trends and appreciating business performance and planning. We are also going to do it on yearly bases and as I said the 2014 report will begun in November 2014 so that by January 2015 the 2014 Housing Data report will be ready.”
