GENERAL NEWS

Accra is the second most expensive city in the world -Survey

Published

3 years ago

10/21/2021

Lionel

Ghana’s capital city, Accra, is the second most expensive city in the world in terms of the ‘property price to income ratio’, according to Numbeo.

Numbeo, a crowd-sourced global database of reported consumer prices, perceived crime rates, quality of health care, and other statistics, explained that the Price to Income Ratio is the basic measure for apartment purchase affordability.

“It is generally calculated as the ratio of median apartment prices to median familial disposable income, expressed as years of income,” the site stated.

Accra is second most expensive city in the world - Survey

This comes amidst agitations about the city’s high cost of property prices, contributing to the #FixTheCountry Movement.

Accra is ahead of Hong Kong (Hong Kong), Shenzhen (China), Moscow (Russia), Paris (France) as well as many other world-class cities.

In the United States of America, Memphis is the most affordable city per property price to income ratio in the world.

Numbeo also revealed that Accra has the world’s highest Mortgage percentage income ratio, followed closely by Buenos Aires (Argentina) and Tehran (Iran) in second and third place, respectively.

Mortgage as Percentage of Income is a ratio of the actual monthly cost of the mortgage to take-home family income.

“Average monthly salary is used to estimate family income. It assumes 100% mortgage is taken on 20 years for the house (or apt) of 90 square meters which price per square meter is the average price in the city centre and outside of city centre,” the site explained.

Memphis once again had the lowest Mortgage as a percentage of income to ratio.

Meanwhile, Accra has the lowest loan affordability in the world.

“Loan Affordability Index is an inverse of mortgage as a percentage of income,” the site said.

This means it is costlier to access a loan in Accra compared to other cities, including Lagos (Nigeria), Kabul (Afghanistan), Sao Paolo (Brazil) and Stockholm (Sweden) etc.

Numbeo is a crowd-sourced global database of reported consumer prices, perceived crime rates, health care quality, and other statistics.

This year it collected data from 482 cities across the world.

Related Topics:Accra city Expensive world

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ENTERTAINMENT

Smoke Ice Music/JayRaw Multimedia Signs Kulli Jay, A Budding Afrobeats Artiste

Published

4 weeks ago

04/01/2024

Lionel

Smoke Ice Music and JayRaw Multimedia has announced the signing of a new male singer, Kulli Jay to their record label, Smoke Ice Music/JayRaw Multimedia.

The up-and-coming musician, Kelvin Osei Owusu who goes by the stage name Kulli Jay, also expressed his excitement about the deal, promising his best under the new management.

Kulli Jay, the new signee has been churning out a couple of music before he came into contact with Smoke Ice Music/Jayraw Multimedia. The announcement and signing was posted on the socials of the Label. Speaking to the CEO of Ice Smoke Music, he promises that their new signee is full of goodies and that Ghana and beyond should expect something awesome.

Kulli Jay is expected to drop his newest single under the label very soon.

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GENERAL NEWS

Meet Derrick Ampadu Ansong, The Grandson Of The Late Legendary Nana Kwame Ampadu

Published

1 month ago

03/13/2024

Ghost Blogger

Derrick Ampadu Ansong, known by his stage name Ampadu Ansong, is a multifaceted Ghanaian talent who has made a significant impact in Ghana’s entertainment industry. With his charm, energy, and versatility, Ampadu Ansong has become a popular figure in showbiz circles. From his early years in the bustling capital city of Accra.

Ampadu Ansong has proven his ability to captivate audiences and create memorable experiences. In this article, we will delve into his background, career, and contributions to the world of Ghanaian entertainment.

Derrick Ampadu Ansong who is the Grandson of the legendary musician The Late Nana Ampadu, a student of Ghana Telecom University who comes from kwaku in the Eastern part of Ghana.

Ampadu Ansong works with the record label known as Chambers Records. He has 3 singles to his credit namely, Hallelujah,Tina and Alone, and soon to release another amazing single. Growing up in the capital city, he was exposed to the vibrant and diverse entertainment scene that characterizes Accra.

This early exposure ignited his passion for the arts. Throughout his schooling years, Ampadu Ansong displayed natural talent in hosting and entertaining, captivating his peers and teachers with his charisma and quick-witted humor.

Stream his song below