Predicting House Rental Prices in Ghana Using Machine Learning

The housing market in Ghana has been facing significant challenges, with the rental sector being particularly affected by issues such as the advance rent system, asymmetrical perceptions between landlords and tenants, and the lack of an institutional framework for regulating the market [2]. These challenges create a highly dynamic and often opaque rental environment, where both tenants and landlords face difficulties in determining fair rental prices. This issue is further exacerbated by the absence of comprehensive and up-to-date data on rental trends, making it challenging for stakeholders to make informed decisions. In recent years, the use of machine learning in real estate has gained traction globally as a means to address such challenges. Machine learning (ML) models can analyse large datasets, uncover hidden patterns, and make accurate predictions, thereby providing valuable insights for various stakeholders in the housing market.