Is Accra Expensive? x Young Ghanaian Professionals (YGP) UK | S3 Ep. 4
A research article on Numbeo ranked Accra, Ghana's capital, second most expensive city in the world with regard to property price ratio. It also ranked Accra for lowest loan affordability. We debate this on today's episode.
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.
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