. Why Purchase Real Estate Property In Ghana ?
• If you find yourself in the diaspora,or if you are in the foreign land outside, Ghana, and you are considering an investment in a real estate property in Ghana, then you will find this article interesting.
• Africa is the new economic investment destination and Ghana is one of the key major players in this regard as property investors are jostling for space to register their presence in the nation’s real estate sector. The country, Ghana, offers several compelling reasons why any prospective investor would want to purchase a real estate property in Ghana. Today, there are numerous people from all walks of life, including countries such as the United States Of America, United Kingdom, the Middle East, South Africa, and neighboring countries from Nigeria, La Cote Ivoire, Togo, etc looking to purchase properties in Ghana's prime cities - Accra, Tema, Kumasi and Takoradi for residential and commercial purposes. The reason behind such growing interest in the acquisition of landed properties in Ghana is not far fetched.
• Ghana is one of the visibly prominent areas on the African continent. It is usually considered the gateway to the West African Sub region .The city has a rich diverse resource base, with one of the highest Gross Product per capita in Africa. It remains one of the economically sound countries on the African continent, with a lot of attraction for both domestic and international investors.The tourism potential of the country is also enormous, and is one of the largest income earners for the government of the day.
• The financial sector has also witnessed a lot of deep transformation boosted by the government’s policies to partner the private sector through the Public-Private Partnership (PPP) initiative, Ghana’s real estate sector is booming, giving investors value for their money. The metamorphosis in this sector has culminated in the liberalization of the financial sector expanding their portfolio managements. Unlike before, a lot more banking and non banking financial institutions are offering more credit to the private sector. This has contributed to the fast pace in the private sector growth.
• The education sector is also experiencing a jump in its transformation. In Ghana, today, there are more quality schools for people from all walks of life. Universities continue to increase in numbers and more quality junior high and senior high schools continue to emerge. Recently. Ghana has enjoyed the high patronage of their anglophone neighbors into their schools, many thanks to their stable educational system as well as a serene political enviroment.
Many Nigerian investors have relocated to Ghana, no thanks to the unstable power supply in Nigeria over the years, sound and continuity in government policies, adequate security and aggressive development of critical infrastructure by its government.
Most Nigerian industries are operating branches in Ghana, Nigerian banks such as GTB, UBA and ZENITH have already gounded themselves there, and where these institutions and company go, they will definitely require accommodation not only or themslves but for their workers. So this gives opportunity for real estate investors and developers to boost their trade.
The fact that there are currently no restrictions on non-Ghanians to own landed property makes it even more attractive, this is because the government is committed to promoting maximum inward foreign direct investment, and is working with a body called the Ghana Real Estate Developers Association to restructure the entire property sector in the country. Choice areas for real estate investments in Accra include East Legon, North Ridge, Kanda, Airport residential area, Cantonments, West Legons (Westlands), these areas can be safely compared to areas in Lagos like the Ikeja GRA, Anthony Village, choice areas of Surulere, Ikoyi, VI and upper Lekki areas. The return on investment here is very high. Rental income in these areas range from $1,000 to $10,000 per month depending on the type of accomodation. Land values range from $100,000 upwards depending on the areas.
Other areas on the ouskirts include East Legon extension (santoe hills)/ Adjingano, Oyibi, Dodowa, Labone, Medina, Tesano, Dzorwulu etc. Here the land values are much cheaper.
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .