Ghana is the gateway to West Africa as we all know and is rich with natural resources, Agriculture, and a constantly growing economy that is attracting more and more foreign investors. Ghana is also a hot spot for tourists across the globe.
Accra being the Capital of Ghana with over 1.5 million residents is home to several businesses, a big growing economy, more and more foreign investors, and a big boom in the real estate market as the demand for housing and luxurious living keeps going up.
Once you have made your mind up on some of the apartments for Sale In Ghana, you need no further convincing, but today we are here to convince you of one thing, and one thing only, now is the time to invest in an apartment in Ghana. I will be touching base on a few more points as to why you should own apartments in Accra Ghana.
* A Growing Economy
* Boom In Real Estate
* Property Rates
* Increasing Value
* Access To Finance
A GROWING ECONOMY
Ghana has a fast-growing economy and was predicted to be the fastest-growing economy in 2019, long known to be the world’s largest cocoa producer and most recently the discovery of oil has put Ghana at the top of GDP growth tables and the GDP of Ghana was estimated to have an 8.8% increment in 2019 by the International Monetary Fund and this is being projected to increase.
This affects the real estate market one way or the other, with the improvement of living in the country, increment in employment a higher percentage of the people are more likely to also invest more in their cost of living and that includes, better housing where you are a direct beneficiary of that. when the economy is good real estate prices keep going up and when the economy is sluggish, so is real estate.
This is a promising African nation and continues to point towards a stable economy amongst a host of developing countries. It has even been called one of Africa’s best-run countries. Exciting times lie ahead for sure and it would only make sense to invest in it now, to gain in the long run.
BOOM IN REAL ESTATE
After many years of lackluster growth, The Real estate market in Ghana is gaining serious traction, boosted by our strong economic growth and an influx of foreign homeowners and non-resident Ghanaians. Demand for luxury apartments and properties is stable and does not seem to be going down according to figures from Broll.
There are about 85,000 residential property transactions for rental and sales of property every year. Also, the first half of 2019 witnessed increased activity in terms of added supply in the high-end residential property market, with pipeline developments being noted in both the high and mid-end markets.
If you are also looking to invest not only in luxury apartments in Accra Ghana you can also look in the lower end market where the demand is much higher and this has been solely attributed to the enormous housing backlog across the county. On the back of a continually improving economy, declining inflation rate, and a stable exchange rate you are sure to recoup the money invested into your real estate.
Property rates are simple levies that are paid to the district Assembly that this is done annually for both residential and commercial properties. This is usually affected by the zone in which said property is located and these are usually grouped into First, Second, and third-class zones based on the existence of existing amenities and other social-economic factors. For each residential zone, there is a set minimum charge that applies to properties in said areas. In Ghana property rates are stable so owning property here, you need not worry your head about what the rates are going to be for the next year and the year after.
Property in Accra underwent a major transformation, bearing witness to several luxury villas and apartments being built over the last couple of years, the demand for luxury apartments and real estate continues to be on the rise as people look to invest and later sell or rent out for short and long stay periods. Due to the population increase and congestion in Accra people and investors are looking to developments in the outskirts of Accra, after some time those same areas are going to be fully developed and prices are going to be surging.
Take Tse Addo for instance, 15 years ago there were just a few properties and apartments being sold between USD $20,000 – USD $30,000, today properties are upwards of USD $150,000 and this is because of the rapid developments currently going on in Accra. Considering the location Eden Height, should you buy an apartment block now, you should look to make a profit in the coming years, considering its a 30 minutes drive from the airport and 5 min away from the largest mall in Ghana and previously the largest in West Africa before the recent development of the Kumasi mall. Eden heights have various luxury apartments for sale In Accra Ghana and world-class facilities available to residents as well.
Investing in property on the outskirts of Accra now is the right thing to do as the surroundings are quickly developing and property prices will keep going up. Buy an apartment today and become a homeowner or landlord.
Well, this is all time will permit, we hope this article helps you make a decision on buying apartments in Accra Ghana today. It can be a good investment for the future or a holiday home away from home. Whatever the case be, Eden Heights has some of the most spacious luxury apartments for sale. Amazing architecture, a convenient location, and world-class sporting facilities make it the perfect residential option for all.
ACCESS TO FINANCE
In Ghana, it is not as difficult getting financial assistance when it comes to purchasing a home or apartment. There are quite a number of financial institutions that are willing to offer various home loan solutions that enable you to take the step of owning a home. These financial institutions offer competitive interest rates and the loan amount is also dependent on your income so there is no fixed number as to the amount they can help you with. Some of the most notable financial institutions include Stanbic Bank, Republic Bank, and First National Bank.