The Housing Market In Ghana

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1.1. INTRODUCTION
Housing finance or mortgage is the pledging of a property to a lender as a security for a mortgage loan which not only enables access to homeownership but also to meet basic needs – a means of economic empowerment. The mortgage market in Ghana, since it is inextricably linked to a country’s economic development by strengthening financial institutions, promoting social stability and improving people’s lives, should have by now seen enormous growth, culminating in affordable houses for Ghanaians. This, however, is not the case as of now.
Government role in the management of the nation’s economy in general and mortgage lending in particular has been analyzed and debated many times and undoubtedly it will continue. There is a
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• Compare and evaluate the role of our government in our mortgage market as against that of the developed mortgage markets.
• Make necessary recommendations as to how our government can help improve our mortgage
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RESEARCH QUESTIONS
2. What are the challenges that affect our mortgage market?
3. How effective is the government in our Ghanaian mortgage system?
4. What role did the governments of Canada, USA, Netherlands and Japan play in stabilizing the mortgage market in their various economies?
5. What can the Ghanaian government do to improve the mortgage market in Ghana?
1.5. DEFINITION OF RESEARCH AND RESEARCH METHODOLOGY
Research is defined as the pursuit of truth with help of study, observation, comparison and experiment that is a systematic method of finding solutions to a research problem identified, (Kothari, 2003).
Due to the bi-focal nature of the research, the study will look into the role of government(s) in:
1. The Ghanaian Mortgage Market
2. Deeper mortgage markets globally

1.5.1. RESEARCH DESIGN In this research, a questionnaire and structured interviews were adopted. The target group for our research comprised Ghana Home Loans Limited, Home Finance Company Limited, Cal Bank Limited, Fidelity Bank and the Ministry of Water Resources, Works and Housing. Six of the deepest mortgage markets were also selected for cross examination in this research and these are Japan, Canada, Netherlands, Brazil, South Africa and the

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