Real Estate News, Reviews and Investment
Article: Ghana offers avenues for investment in both residential and commercial real estate
Most real-estate developers concentrate on developing residential property for sale—there is an acute shortage of housing in the country and demand is well in excess of supply. Foreign investors come to Ghana for the luxury housing and office real-estate markets.
The residential real estate market
Rent levels are not high enough to attract investors looking for income properties. There is also a sizable market among non-resident Ghanaians for houses in the country because of the attractive profit potential.
There are various housing developments around Accra with many of them being located in the region between Accra and Tema. Most of these estates are well planned and laid out and the quality of the houses offer value for money.
Commercial real estate
The commercial property market is active with increased demand from the retail sector. Residential property in the CBD and on the major roads are being converted into retail space.
The major industrial locations in Accra are Motorway, North and South Ring Road Industrial Areas, of which the Motorway Industrial area (along the Spintex Road) is relatively new with major ongoing industrial projects.
The owners occupy most industrial properties though, in some cases, surplus property is rented out to tenants.
The industry center of the country is Tema, which has a large industry presence and is home to many large and well-managed units.
The bottom line
Ghana is currently the focus of investors from many places including the West and the African continent. Demand for luxury housing and prime office space has been on the increase and there are new developments in progress to cater to this demand.
The stability of the country and the recent discovery of oil mean that growth should continue to be healthy with continuing investment opportunities in real estate.