Hello everyone,
I have a question that I hope someone can answer. The decline of the cedi is very alarming. However, I notice that the prices advertised for housing are often in U.S. dollars and are ten times the amount of what Ghanaians are paying for their own housing.
Why is there such a disparity? There are plenty of Ghanaians renting houses for 400 to 600 GHC per month but often, the expats are told by the Ghanaians that the local housing costs about 3700 GHC to 12000 GHC per month. It can not be true when we look at the average working wage in Accra and surrounding areas.
Can anyone explain this?