Builders in Accra Grapple with High Construction Costs Despite Cedi Gains
Hopes that the recent strengthening of the cedi would ease the cost of construction have not materialized in Accra, as prices of key building materials remain stubbornly high. Current prices of building materials are no different from the prices we recorded in the last quarter of 2024, towards the first quarter of 2025, when exchange rates and inflation were still high.
Market checks indicate that on average, cement retails at GHC115 for the 32.5R grade and GHC130 for the 42.5R grade. Steel roofing sheets sell between GHC25 and GHC70 per square metre depending on thickness, while floor tiles average between GHC80 and GHC160 per square metre.
The persistence of high building costs has become a major source of frustration for local builders, which makes it difficult for them to adjust prices downwards.
The issue feeds into a broader conversation about Ghana’s housing market and the challenges of delivering affordable housing in a volatile economy. A recent Mid-Year report on Accra’s Real Estate Market by Saasepedia highlights these price trends, shifting housing dynamics and the piecemeal nature of interventions in the sector.
The report offers insights for developers, investors and policymakers who seek to understand the state of Ghana’s housing market and other real estate sub-sectors.
Download the full report HERE.
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