• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

Top 5 African cities with the most unaffordable real estate in 2024

1 year ago
in Features, highlights, Home, home-news, latest News, Markets, Real Estate
2 min read
0 0
0
78
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Government Announces Death of Former First Lady Nana Konadu Agyeman-Rawlings

New UN Forum Aims to Tackle Developing Economies’ Debt Issues

Dangote Plans 10% Sale of Refinery Shares

Top 5 African cities with the most unaffordable real estate in 2024

Expensive real estate prices exacerbate the housing affordability dilemma, making it more difficult for regular people to find adequate and affordable housing.

Rapid urbanization in many African cities, combined with a scarcity of housing, drives up property costs, pushing low- and middle-income people to the periphery of the market. This also is either a consequence or a cause of stress on the overall economy of any given country.

Rising real estate prices accentuate socioeconomic divides in urban areas, drawing a clear line between the rich and the underprivileged.

The rising value of real estate makes homeownership unattainable for many people, while a select minority enjoys the advantages of investment and property ownership.

Inequality and social discontent are exacerbated by this growing wealth disparity, which not only widens social divides but also limits social mobility and economic prospects for underprivileged groups.

Additionally, as developers and investors want to profit from lucrative chances for urban redevelopment and gentrification, expensive real estate contributes to displacement and forced evictions.

Urban rehabilitation and beautification initiatives frequently result in the eviction, displacement, and homelessness of vulnerable populations, such as low-income people and informal settlers.

With that said, here are the top 5 African cities with the most unaffordable real estate in 2024 based on Numbeo’s “Price to Income Ratio.” This list does not represent the cities with the overall most expensive real estate prices, but rather real estate that is not affordable to the residents of the region.

The Price to Income Ratio is a key indicator of the affordability of buying an apartment; a lower ratio denotes higher affordability. Usually represented as years of income, it is computed as the ratio of median apartment costs to median family disposable income.

RankCityCountryProperty price to income ratio
1.LagosNigeria19.2
2.CairoEgypt18.4
3.NairobiKenya11.5
4.Cape TownSouth Africa5.4
5.DurbanSouth Africa4.2
Source: businessinsiderafrica
Via: norvanreports
Tags: African citiesReal EstateTop 5 African cities with the most unaffordable real estate in 2024
No Result
View All Result

Highlights

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

Africa Loses $5bn Annually to Forex Transactions, Says AfCFTA Secretariat

World Bank Unveils IFC2030 Strategy to Boost Private Capital and Job Creation

Domestic Debt Surpasses External Debt for the First Time in Years

Trending

Features

Government Announces Death of Former First Lady Nana Konadu Agyeman-Rawlings

October 23, 2025

Government Announces Death of Former First Lady Nana Konadu Agyeman-Rawlings The Government of Ghana has announced with...

New UN Forum Aims to Tackle Developing Economies’ Debt Issues

October 23, 2025

Dangote Plans 10% Sale of Refinery Shares

October 23, 2025

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

October 23, 2025

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

October 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.