The chapter provides a detailed overview of the submarkets in major urban centres in the country. Based on a critical review of international standards for global markets assessment, it disaggregates the overall market and examines the dynamics of residential, office, retail and industrial submarkets.
The uniqueness of each submarket is analysed to offer a deeper understanding and inform investment decisions. The chapter focuses on six distinctive residential investment markets in the largest conurbation in the country in addition to the retail, office and industrial submarkets. It thus provides a review of the effectiveness of land use control mechanisms and urban land management.
The chapter further provides evidence to suggest that the office, retail and industrial submarkets are relatively small, with few sale transactions and marginal movement in prices. It also provides evidence that a wide range of stock exists in the upmarket, emerging upmarket, gated, working-class and low-end brackets in the major cities of Accra, Tema, Kumasi, Takoradi and Koforidua. In conclusion, it traces the history of the mortgage market in Ghana and examines interventions by the government to develop a sustainable mortgage market.