Why You Need To Invest In Real Estate In Ghana

Property buyers have various reasons for making purchases. While some look at the business aspect, that is, as an investment to resell at an appreciated price, others buy to live in. Whatever the reason is, lands and houses are highly sought after commodities worldwide thus investing or purchasing a property in Ghana a valuable investment.

Below are some reasons investing in real estate in Ghana is beneficial.

1. Affordable Pricing Rates
Mobilizing funds to invest in real estate can be challenging. Investing in real estate markets in Europe costs more than investing in Ghana. Properties in Accra are about 15% more expensive than in other parts of Ghana, however, prices are relatively affordable on a global scale. Pricing is relative to the buyer and the seller. Ghanaian rates are usually moderate. Mortgages and flexible payment options are also available to all persons who want to purchase property in
Ghana.

2.Increasing Market
Ghana’s real estate is currently thriving. During the pandemic, the Ghanaian real estate industry recorded some growth. Aside Ghana’s three main export commodities: Cocoa, Gold and Oil that drives the growth of the economy in recent years the services industry also plays a substantial role in the overall GDP of the nation. Ghana’s GDP increased from GHC15,884.19 million in the fourth quarter of 2019 to GHC16, 691.97 million in the first quarter of 2020. The central bank recently amended its 2020 growth forecast to between 2-2.5% from an earlier estimate of 6.8% due to COVID-19. However, the real estate market keeps growing amidst all these.

3. Value Appreciation
Real estate is an undisputable way to wealth and the reason is the rate of appreciation. Unlike a car that reduces in worth and depreciates at the ignition of the engine, real estate appreciates and increases in value every year. Revenues from rentals in Accra ranges between 8.5-12.5%. The value of properties in general rise worldwide each year and Ghana is not an exception.

4. Housing Deficit
Ghana’s housing deficit stands approximately 2 million. Some are of the view that, the actual figure is much larger than recorded. However, the fact remains that, there is a large deficit in the housing sector and a high demand for housing. This deficit creates opportunities for investors to invest in housing industry in Ghana. Study shows that the rental market in Accra is vast, as 37.5% of all households in Accra, representing about 22% of the population of Ghana are renting. Buying a house in Ghana for investment, could open up a new revenue by form of rent to the low, mid or high-end market. Investing in real estate industry in Ghana is a safe and worthwhile investment. There are many credible real estate companies such as ENGSI Properties that can be contacted to purchase land or a house here in Ghana.

Website: www.engsipropertiesgh.com , Facebook: Engsi Properties, Instagram: engsi_properties
Contact: +233 243 004 525 / +233 274 344 967