Audio By Carbonatix
Accra is the 5th most expensive city in Africa in terms of rent, according to Numbeo.
Accra’s rent index of 12.0 also placed it 230 in the world.
According to the data and research powerhouse, high rents can strain household finances, leaving families with little discretionary income to spend on needs such as food, education, healthcare, and transportation.
It stated that a high rent cost raises the question of how important said urban centers are, considering that a lot of jobs these days can be done remotely.
Lagos is the most expensive city in Africa with a rent index of 24.3. It is ranked 122 in the world.
In 2nd, 3rd and 4th places are Cape Town (18.0), Addis Ababa (17.8) and Dar es Salaam (14.4) respectively.
Numbeo said while the importance of urban centers such as proximity to better infrastructure and economic opportunities, cannot be disputed, the cost of living against revenue can always be weighed.
Meanwhile, Alexandria in Egypt; Cairo, capital city of Egypt; Tripoli in Libya; Algiers in Algeria and Tunis, Tunisia are the cities with the lowest cost of rent.
Latest Stories
-
Amin Adam proposes 13 measures to strengthen Ghana’s debt transparency and market confidence
21 minutes -
Mahama announces $2bn annual investment to accelerate industrialisation
26 minutes -
Amin Adam urges monthly disclosure of Sinking Fund as Ghana prepares for DDEP repayments
36 minutes -
Stronger banks will fuel business growth and jobs – ADB MD
37 minutes -
Galamsey: ‘Rivers that fed our grandparents now run the colour of chocolate milk’ – Sam Jonah
39 minutes -
We have been scammed by NDC, government is only doing PR – Abanga Fuseini
40 minutes -
Republic Bank–JoyNews Habitat Fair opens in Ho today
41 minutes -
BoG pledges stability to attract investment, urges stronger Africa–Asia partnerships
45 minutes -
Amin Adam warns treasury bill dependence could expose Ghana to refinancing risks
45 minutes -
Ghana better placed to withstand commodity price shocks – IMF
48 minutes -
GAPTE intensifies efforts to increase bus availability for Aayalolo contra-flow
50 minutes -
Amin Adam warns cedi depreciation could reverse Ghana’s debt relief gains
54 minutes -
Fiscal discipline crucial for pension fund investments – Finance Minister
54 minutes -
BoG Governor rallies IMF to back Africa’s digital sovereignty
59 minutes -
Amin Adam questions government bond pricing as short-term yields fall below inflation
1 hour