Rehoboth Properties Introduces Africa’s First Affordable Luxury Housing

Introduction:
In a transformative move for Ghana’s housing sector, Rehoboth Properties Limited has introduced Africa’s first Affordable Luxury Housing project, Rehoboth Knightsbridge, located in Kwabenya, Accra, within the largest constituency in Ghana’s capital. This development marks a historic shift in how housing is conceptualised and delivered, especially for middle-income Ghanaians.

The Evolution of Housing in Ghana

Housing in Ghana has evolved significantly since the country gained independence in 1957. While early housing policies prioritised colonial administrators and civil servants, the broader Ghanaian population was often excluded from subsidised housing opportunities. By the 1980s, institutions like Tema Development Corporation (TDC) and Social Security and National Insurance Trust (SSNIT) were formed to expand real estate development, yet the housing deficit continued to grow.

In recent years, the government’s contribution to housing has dwindled, leaving a gap filled increasingly by private developers like Rehoboth Properties. Today, Ghana faces a housing deficit exceeding 2 million units, driven by rapid urbanisation and population growth outpacing the supply of decent, affordable homes.

What Is Affordable Housing?

Affordable housing is defined as a home that allows a household to pay for shelter without sacrificing other essentials like food, healthcare, transportation, or education. It's not just about low cost, it's about livability, financial balance, and long-term sustainability.

What Is Affordable Luxury Housing?

Affordable Luxury Housing takes the core of affordable living and enhances it with high-end amenities, modern finishes, and well-designed infrastructure — all without pushing the price to its market maximum. In simpler terms:

“It’s like buying a Rolls-Royce at a Toyota price.”

This unique model allows everyday Ghanaians to access the quality, comfort, and lifestyle usually reserved for the elite, without breaking the bank.

Rehoboth Knightsbridge: Delivering Luxury That’s Accessible

The Rehoboth Knightsbridge project is a testament to this vision. It provides:

• Gated security and paved roads

• Stylish 1-, 2-, and 3-bedroom homes

• Recreational facilities: swimming pools, basketball and tennis courts

• A commercial zone with retail access

• IFC EDGE-certified energy-efficient design

Built with the same standard and quality as Rehoboth’s high-end estates, Knightsbridge is specifically priced to meet the needs of first-time buyers, public sector workers, and returning diaspora.

The Role of Banks in Affordable Housing

Despite the clear demand, Ghanaian banks have been hesitant to invest in real estate, largely due to high default risks, inflation, currency volatility, and a lack of borrower data. As of 2018, the average commercial lending rate stood at 34.5%, over double the Bank of Ghana’s policy rate of 16%, making housing loans inaccessible to most Ghanaians.

To solve this, banks must:

• Develop dedicated mortgage departments

• Offer low-interest, long-term housing loans

• Work with trusted developers like Rehoboth to reduce risk

What Government Can Do

The state plays a vital role in influencing housing affordability through:

1. Land Policy Reform

Land cost is the largest barrier after construction. The government can regulate supply to drive prices down and release land for development without profit-focused motives.

2. Tax Waivers for Developers

Just as foreign developers receive exemptions, local builders need incentives like VAT relief and duty waivers on materials. This helps reduce unit costs and encourages reinvestment into more housing stock.

3. Infrastructure Support

Developers are often forced to fund roads, water, and electricity themselves. If the government assumes these responsibilities, it dramatically reduces project costs and improves affordability.

A National Solution, Powered by Rehoboth

Rehoboth Properties Limited recognises that true affordability must come with dignity, quality, and long-term livability. The Affordable Luxury Model offered at Knightsbridge is a landmark response to Ghana’s housing crisis, a home that doesn’t just shelter, but empowers.

"We’re not just selling homes we’re unlocking futures. Rehoboth Knightsbridge is proof that luxury doesn’t have to be exclusive."