Housing prices should depend on income categories - Rent Commissioner

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Acting Rent Commissioner Frederick Opoku has defended the pricing structure within the housing and hostel sector around university campuses, arguing that landlords and property owners operate within different income categories, which should influence the cost of accommodation.

Speaking on JoyNews’ Super Morning Show, Mr Opoku explained that producers and developers function at varying tiers, with each level determining the type of market they serve and the income group they cater to.

“As a producer, when you start operating, you have first tier, second tier, third tier and fourth tier. You may produce for one level, and at that level, you have categories of income,” he explained.

He stressed that stakeholders who want to remain viable and reasonable in business must avoid exploiting consumers through excessive pricing.

The Commissioner also underscored the need to prioritise the use of local building materials to help reduce costs and strengthen the local industry.

“It is important that we have a lot of local materials,” he stated.

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Housing prices

Rent Commissioner