Building cost up by 120%

• Posted on October 11, 2014October 11, 2014
• by Nana Kwesi Coomson
• Comment

It is a dream of everyone to own his or her own house but this dream has become illusive for many considering the economic hardships facing the country.

Prices of building materials have been hiked over the last three years by almost 120 per cent

Considering the current prices of cement, sand, blocks, gravels, wood, roofing sheet, iron rod and chippings which are the basic building materials, the average Ghanaian will face serious challenges in trying to acquire his or her own house

A survey by the Weekend Finder to ascertain the cost of putting up a building in Ghana revealed drastic price hikes.

For example, in 2011, a bag of cement was sold at GH¢15 but it has now seen a dramatic increase to GH¢35 as at July 2014.

A trip of sand which trades at GH¢22 per cubic-meter some 3 years ago is now GH¢62 for which an amount of 120 cube-meters equivalent to GH¢700 per trip

A trip of chippings costing GH¢1600 would be required for a 2-bedroom house.

Building blocks which was selling at GH¢1.20 three years ago is now selling at GH¢3 representing a150% increase.

One needs at least 2,500 blocks to complete a two-bedroom house

A box of nails sells at GH¢75, Wawa board is GH¢28 with 2 by 4 GH¢17 per length, GH¢21 for a piece of roofing sheet, 1.5mm cable coil of electrical wires is GH¢70 with GH?90 going for the 2.5mm.

Another building material one cannot underestimate when the issue of building comes to mind is plywood. It used to sell at GH¢9 for a piece of board but currently the same commodity is selling at GH¢36.

The price of ½ inch iron rod skyrocketed from GH¢5 three years ago to GH¢21 currently.

Aside this price hikes that a prospective builder has to deal with, the price of land has equally gone up astronomically.

The approved size of plot has as well seen some diminishing over the years from 150 square, 120 square, 100 square and now 80×60 square meters in a length and breadth measurements which now sell averagely at GH¢20,000

Some building contractors the Weekend Finder spoke to, expressed worry saying the current hikes is affecting their job as most individuals are now in a fix to put up a building.

-The Finder