Macro-economic Data

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A. Demography and Macroeconomy

A.1 Population
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Total population28.83 million28.21 million27.58 million
WDI
A.1.1
Total number of households  4,840 millionA.1.2
Average household size  4.4
Ghana Census
A.1.3
Urban population (% of total)55.31% of total54.68% of total54.04% of total
WDI
A.1.4
Urban population growth (annual %)3.35%3.41%3.48%
WDI
A.1.5
A.2 Economy
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
GDP, current prices (U.S. dollars)47,032 USD (millions)42,787 USD (millions)36,885 USD (millions)
WEO
A.2.1
GDP based on PPP valuation of country GDP (Current international dollar)133,742 USD (millions)121,154 USD (millions)115,335 USD (millions)
WEO
A.2.2
GDP per capita, current prices (U.S. dollars)1,663.19 USD 1,551.75 USD 1,371.89 USD
WEO
A.2.3
GDP based on PPP per capita GDP (Current international dollar)4,729.49 USD 4,393.87 USD 4,289.75 USD
WEO
A.2.4
GDP, constant prices (Percent change)8.44%3.72%3.84%
WEO
A.2.5
Inflation, end of period consumer prices (Percent change)11.82%15.36%17.69%
WEO
A.2.6
GDP, deflator (Index)522.62463.54393.46
WEO
A.2.7
Consumer price index232.26206.69175.97
WDI
A.2.8
GINI IndexNot availableNot availableNot available
WDI
A.2.9
Growth in urban household income (%/year)A.2.13
Employment (% of total laborforce)A.2.14
Interest Rates:A.2.15
Central bank lending/discount rate20%25.5%26%
Bank of Ghana
A.2.15.1
Yield on 3 months treasury bills13.3%21.45%23.61%
Bank of Ghana
A.2.15.2
Yield on 10-year Government bondNot available24.75%23.52%
IFS
A.2.15.3
Average bank deposit rate13%13.17%13.34%
Bank of Ghana
A.2.15.4
Lending rate29.3%31.2%27.5%
Bank of Ghana
A.2.15.5
B. Housing Market
B.1 Housing Stock: Production, Transactions
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Number of dwelling units:B.1.1
Total  5,817,607 million
Census 2010
B.1.1.1
Percentage of vacant units  6% of total
Census 2010
B.1.2
Characteristics of housing stock:B.1.3
Tenure in urban areas (%):B.1.4
Owner-occupied units  47.2% of total
Census 2010
B.1.4.1
% of owner units with a mortgage  31.1% of total
Census 2010
B.1.4.2
Private rental units  20.8% of total
Census 2010
B.1.4.3
Public / social rental units  23% of total
Ghana statistical service 2008
B.1.4.4
Estimated Number of units completed/yearB.1.5
B.2 Housing Prices and Cost for Urban Areas or Capital City
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Median urban house price in USD:B.2.1
Median house price to median annual HH income:B.2.2
Annual average % change in median house prices:B.2.3
M2 construction cost for median quality houseB.2.4


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Notes: 2000 estimate
Notes: 2000 estimate
Notes: "Rate offered by commercial banks on three-month time deposits."
Notes: "Rate offered by commercial banks on three-month time deposits."
Notes: "Rate offered by commercial banks on three-month time deposits."
Notes: "Rate offered by commercial banks on three-month time deposits."
Notes: 2000 estimate
Notes: 2000 estimate
Notes: 2010 = 100
Notes: 2010 = 100
Notes: Capital gains are taxed at a rate of 15%. The taxable amount is calculated as the sale price minus acquisition cost and other costs (such as renovation and legal).
Notes: Credit Referencing Bureaus include XDS Data, Hudson Price, and Dun & Bradstreet
Notes: Credit Referencing Bureaus include XDS Data, Hudson Price, and Dun & Bradstreet
Notes: First mortgage backed security was approved by SEC in 2013.
Notes: Funding from corporate bonds.
Notes: Funding from corporate bonds.
Notes: Funding from corporate bonds.
Notes: Ghana Home Loans controls ~50% of the market
Notes: IFS note: "Rate at which the Bank of Ghana makes advances against treasury bills. A rate of one percent higher is used in discounts of direct credit to business. There are no quantitative limits on credit to banks at the discount rate. The volume of these operations is relatively small. " End of Period
Notes: IFS note: "Rate at which the Bank of Ghana makes advances against treasury bills. A rate of one percent higher is used in discounts of direct credit to business. There are no quantitative limits on credit to banks at the discount rate. The volume of these operations is relatively small. " End of Period
Notes: IFS note: "Rate at which the Bank of Ghana makes advances against treasury bills. A rate of one percent higher is used in discounts of direct credit to business. There are no quantitative limits on credit to banks at the discount rate. The volume of these operations is relatively small. " End of Period
Notes: IFS note: "Rate at which the Bank of Ghana makes advances against treasury bills. A rate of one percent higher is used in discounts of direct credit to business. There are no quantitative limits on credit to banks at the discount rate. The volume of these operations is relatively small. " End of Period
Notes: In 2016 the government began a project to produce 5,000 units, 40% of which are to be sold at subsidized rates for low- and middle-income earners. As of 2017, 1,500 units were completed
Notes: In terms of % of number of lenders, not market share
Notes: In terms of % of number of lenders, not market share
Notes: In terms of % of number of lenders, not market share
Notes: In terms of % of number of lenders, not market share
Notes: In terms of % of number of lenders, not market share. GHL is a non-bank financial institution and mainly sources capital from development finance institutions, such as DEG, a German project financier. In July 2016, a provisional banking license was issued to the mortgage lender.
Notes: In terms of % of number of lenders, not market share. GHL obtained its banking license in 2017.
Notes: Property tax is levied at a rate of 0.5 to 3%
Notes: Rental income is taxed at a rate of 8% for residential properties.
Notes: Republic Bank and GHL Bank have previously relied on multilateral agencies (World Bank, IFC) to raise funds
Notes: There is a stamp duty fee of 0.25 to 1% that is paid by the buyer. This is a progressive rate that depends on the value of the property.
Notes: These are rent-free houses.
Notes: Treasury Bills discounted.