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

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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.

Accra is second most expensive city in the world - Survey

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.

Accra is second most expensive city in the world - Survey

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.

Accra is second most expensive city in the world - Survey

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.

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BREAKING

A 21-Year-Old Soldier Man Dies At Ashiaman.

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A soldier belonging to the 3rd Battalion Infantry in Sunyani has been murdered in Tafia, a suburb of Ashaiman, in the Greater Accra region, on Friday, 3rd March 2023.

Imoro Sheriff, a 21-year-old boy was allegedly killed by a gang after he visited his girlfriend in the area.

Imoro, whose position could not be immediately verified, was attacked with knives and other weapons, immediately after leaving the girl­friend’s home.

It was said that Imoro usually visits his girlfriend anytime he goes to Ashaiman where he was born and raised.

When the Ghanaian Times visited the family home of Imoro, at Zongolika, a suburb of Ashaiman, on Monday, mourners were in a state of shock. The father of the deceased, Asa­nubu Imoro, confirmed the death of his son, saying he heard it via social media.

Asanubu Imoro said the son, who was based in Sunyani, Bono Region, informed him that he was attending a military programme in Accra and will visit family mem­bers on Friday.

“We were expecting him. When we called his number late into the night, there was no response. Somebody showed me a video and asked, do you know this man, that was when I identified my son.”

According to Asanubu Imoro, the military and other security agencies have been in close contact with the family as the investigation into the killing was ongoing.

When the Ghanaian Times con­tacted the Ashaiman Divisional Police Command concerning the incident, the authorities declined to speak on the matter, but indi­cated that 13 suspects had been arrested so far.
Source: Ghanaian Times.

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GENERAL NEWS

Aya Ramzy B Is About To Drop A Video For His Latest Track

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Bismark Amoako affectionately called Aya Ramzy B is a Ghanaian – Takoradi-based artist and he is the reigning artist of the year in the Western Region.

The “Jawuley” hitmaker is about to premiere the video for his current single track, titled “BACKFIRE” which features Ghana’s Best Musicians (Keche Global). The event will be held on Friday, March 3, 2023, at NK City inside Fijai – Takoradi. The rate is free.

Aya Ramzy B is pleading with the media, industry stakeholders, and the general public to come and support him, he is currently on a radio tour in the Western & Western North Regions.

 

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