Exploring strategies for pricing of real estate housing in Ghana
| dc.contributor.author | Nana-Kusi, Richmond | |
| dc.date.accessioned | 2025-03-13T09:33:59Z | |
| dc.date.available | 2025-03-13T09:33:59Z | |
| dc.date.issued | 2019-10 | |
| dc.description | A thesis submitted to the Department of Planning, Kwame Nkrumah University of Science and Technology, Kumasi, in partial fulfilment of the requirements for the award degree of Master of Science in Project Management. | |
| dc.description.abstract | In real estate development, as in other consumer markets, some of the largest challenges have always been pricing of the units and the time it takes to sell them. This is especially apparent in the housing market, where a large number of factors affect the final sales price and the fluctuations in demand. The pricing of real estate houses for sale is one of the most difficult things to decide on when listing them. There are a lot of factors that come into play when deciding the price and determining the best pricing strategy which this study critically examined. In line with this purpose, the study identified factors that contribute to the pricing of estate houses in Ghana, identified challenges in the pricing of estate houses in Ghana, and proposed strategies for effective pricing of real estate houses in Ghana. Based on the findings, the study indicated that the three most contributing factors to Ghanaian real estate house pricing were construction cost, land price, availability of building materials. Inadequate financial capability, transfer of land ownership problems, increasing demand for cheap houses, and high cost of building materials are some of the challenges in the pricing of real estate houses in Ghana. Based on the relative importance index calculation, the best strategy for pricing are Psychological Pricing Strategy (where buyers are encouraged to buy products based on emotions rather than on common-sense logic) and Pay plan model and Premium pricing strategy. It is recommended that to help enhance pricing of real estate housing in Ghana, estate developers must not only identify their target buyers but also be aware of the seasonal shifts of the market, pricing above or below market value, emphasising on amenities and staying updated about the online market as w | |
| dc.description.sponsorship | KNUST | |
| dc.identifier.uri | https://ir.knust.edu.gh/handle/123456789/16396 | |
| dc.language.iso | en | |
| dc.publisher | KNUST | |
| dc.title | Exploring strategies for pricing of real estate housing in Ghana | |
| dc.type | Thesis |