By Benjamin Nii Nai Anyetei
Accra has become the centre of Africa’s real estate conversation as more than 1,500 delegates, including government officials, regulators, private developers and diaspora investors, gathered for the maiden edition of the Africa Real Estate Festival (AREF) 2026.
The two-day event, being held in Accra, is under the theme “Innovation Meets Identity: Designing Africa’s Next Living Experience.” It is organised by AREF in collaboration with Nilex Properties, Goldkey Properties, the Ministry of Works, Housing and Water Resources, and the Real Estate Agency Council (REAC).
The festival comes at a time when Ghana and many African countries are facing significant housing deficits and rapid urbanisation pressures. According to industry estimates, Ghana faces a housing deficit of more than 1.8 million units, while demand continues to rise due to population growth, rural-urban migration and increasing household formation. Ghana’s urban population is now estimated at over 58 percent, placing growing pressure on housing and infrastructure in major cities such as Accra and Kumasi.
The private sector currently delivers nearly 90 percent of housing in Ghana, making collaboration between government and private developers critical to solving the country’s accommodation challenges.
Across Africa, the housing gap is even wider. The African Development Bank estimates the continent faces a shortage of more than 51 million housing units, with an annual financing need exceeding $1.4 trillion to close the deficit. By 2050, Africa’s urban population is expected to double, making sustainable housing one of the continent’s most urgent development priorities.
At the heart of discussions in Accra is Ghana’s growing ambition to position itself as a stable, transparent and investor-ready hub for housing and urban development across the continent.The Minister for Works, Housing and Water Resources, Kenneth Gilbert Adjei, said Africa’s future housing agenda must prioritise affordability, liveability and resilience, while ensuring innovation does not erase cultural identity.
He announced measures to promote the use of local building materials and green construction methods to reduce building costs, support sustainability and cut carbon emissions. The Minister further disclosed that Ghana’s broader legal and institutional framework is being reviewed to reduce bureaucracy, improve transparency and support growth within the real estate sector.
Founder and Chief Executive Officer of AREF, Desmond Kwesi Oteng, said the festival marks a turning point in how Africa tells its own investment story.
He noted that for too long, narratives about Africa’s property market have been shaped externally, despite the continent’s strong demographics, expanding middle class and rising demand for quality housing.
The Real Estate Agency Council (REAC) also used the platform to call for discipline and professionalism in the sector.The Council stressed that a transparent property market depends on strong standards, ethical conduct and effective regulation.
It reminded practitioners that cash transactions are strictly prohibited under the Real Estate Agency Act, 2020 (Act 1027), describing the measure as necessary to combat fraud, tax evasion and money laundering.
The festival also highlighted the important role of the Rent Control Department, stressing that fairness between landlords and tenants remains essential for building sustainable and peaceful communities.
Participants say the strong turnout and high-level discussions at the first edition of AREF show that Africa is no longer the “next” market for real estate investment, but the “now” market. The festival featured major property and housing exhibition showcasing real estate developments, smart housing solutions, construction technology, financing products and investment opportunities from across Africa.
With momentum building in Accra, stakeholders believe the festival could become one of the continent’s leading annual platforms for housing policy, urban innovation and cross-border property investment.
