Nkonkonsa Celebrity Gossip From Africa
A recent report by global data and research platform Numbeo has revealed that Accra is the fifth most expensive city in Africa for rent, with a rent index of 12.0. The ranking places Ghana’s capital at 230th globally, highlighting the growing financial burden on residents in one of West Africa’s most vibrant urban centers.
The report underscores the significant impact of high rental costs on household finances, often leaving families with limited disposable income for essential needs such as food, education, healthcare, and transportation. Numbeo also raised questions about the relevance of expensive urban centers in an era where remote work is increasingly viable.
Top African Cities for Rent Costs
Topping the list of Africa’s most expensive cities for rent is Lagos, Nigeria, with a rent index of 24.3, placing it 122nd globally. Cape Town, South Africa, follows in second place with a rent index of 18.0, while Addis Ababa, Ethiopia, and Dar es Salaam, Tanzania, take third and fourth places with rent indices of 17.8 and 14.4, respectively.
Numbeo acknowledged the undeniable importance of urban centers, citing their proximity to better infrastructure and economic opportunities. However, the platform emphasized the need to weigh the cost of living against income, especially as remote work continues to reshape traditional employment dynamics.
Affordable Cities in Africa
On the other end of the spectrum, cities with the lowest rent costs include Alexandria and Cairo in Egypt, Tripoli in Libya, Algiers in Algeria, and Tunis in Tunisia. These cities offer more affordable living options, providing a stark contrast to the high costs faced by residents in cities like Accra.
Implications for Accra Residents
The report’s findings have sparked concerns among Accra residents, many of whom are already grappling with rising living expenses. High rental costs, coupled with other economic challenges, are putting significant pressure on households, forcing many to make difficult financial decisions.
As Accra continues to grow as a hub for business and culture, the need for affordable housing solutions becomes increasingly urgent. Stakeholders, including policymakers and urban planners, are being called upon to address the housing crisis and ensure that the city’s development benefits all residents.
For now, Accra’s position as the fifth most expensive African city for rent serves as a wake-up call, highlighting the urgent need for action to alleviate the financial strain on its residents.
Top 5 Most Expensive African Cities for Rent (2024):
- Lagos, Nigeria – Rent Index: 24.3
- Cape Town, South Africa – Rent Index: 18.0
- Addis Ababa, Ethiopia – Rent Index: 17.8
- Dar es Salaam, Tanzania – Rent Index: 14.4
- Accra, Ghana – Rent Index: 12.0
Source:NKONKONSA.com
