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Conceptualizing the Rental Housing Market Structure in Ghana

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  • Emmanuel Kofi Gavu

Abstract

This article conceptualizes the rental housing market using housing typologies, housing form, and submarket definitions to understand how the market operates in a developing country context. Drawing conclusions from the extant literature and market observations in Ghana, the research provides a framework for analyzing the rental housing market in developing countries. An understanding of the housing market structure provides some clarity on submarket existence, price movements, and conceptual issues relating to how rental values are determined within the market. The findings suggest that the price premiums of location and neighborhood attributes within parts of sub-Saharan Africa may be overstated; this is contrary to an important cliché in real estate, location, location, location. The findings further provide useful insights and serve as a guide in understanding rental market dynamics, particularly in contexts where access to data remains a challenge. This research is one of the first attempts to develop a holistic framework in understanding the housing market structure in the Global South and to empirically verify the same.

Suggested Citation

  • Emmanuel Kofi Gavu, 2022. "Conceptualizing the Rental Housing Market Structure in Ghana," Housing Policy Debate, Taylor & Francis Journals, vol. 32(4-5), pages 767-788, July.
  • Handle: RePEc:taf:houspd:v:32:y:2022:i:4-5:p:767-788
    DOI: 10.1080/10511482.2020.1832131
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