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Executive houses in Accra

Now is the Best Time to Invest in Ghana’s Real Estate

Now is the best time to invest in Ghana’s real estate, that’s according to Akon. The Senegalese-American pop star has recently been making waves following his advice to Ghanaians and by extension, Africans to invest in Ghanaian real estate.

Speaking on Capital XTRA in response to a question about the Year of Return by the host, Mammy Norte, Akon said about real estate in Ghana:

“I’m telling you, you guys are sleeping, especially all the Ghanaians here in the UK. You guys are not investing right now? You missing all the opportunity. You’re literally missing the opportunity. By the time you guys figure it out, it’ll literally be too late.

Imagine New York City before it was New York City. The one family that understood the value which is the Rockefellers, they own the city. All those buildings, and lands that they invested are all paying off today because they got in early.

Ghanaians have that access right now. As you know, the property value is rising and going up higher and higher every year. When you got access, grab it all right now. They’re going to build on it. That’s the only place left to develop.

So whatever dollar you have or pound, trust me, you need to buy land in Ghana or anywhere else in Africa ASAP. Don’t even wait.”

Akon’s statement comes at a crucial time when Ghana’s Year of Return policy is bringing in an estimated 500,000 people. The primary purpose of the festival was to forge closer ties between Ghana, the African continent and those of African descent living elsewhere according to CNN.

Irrespective of their reasons for coming to Ghana, that many people coming into the country presents a stark problem. How will they be housed? The answer to that is the real estate opportunity in Ghana Akon was talking about.

December is often a great time for real estate, with demand for rentals, particularly short lets shooting through the roof. For people looking for short let rentals, AirBnB and Meqasa are great places to start. However, for those taking on Akon’s advice to invest in Ghana’s real estate or looking to stay longer, the myriad property options available on Floorspace Gh are a perfect fit.

Below, we list some of the best areas to invest in real estate in Ghana.

 

Most Popular Neighbourhoods in Accra

Some of the popular neighbourhoods to invest in real estate in Ghana include East Legon, Cantonments, Airport Residential Area, Labone and Dzorwulu among others. Many of the areas listed here are hot areas where investors are pushing into.

  1. Cantonments
  2. Airport Residential Area
  3. Labone
  4. East Legon
  5. Dzorwulu
  6. Abelemkpe
  7. Appolonia City
  8. Roman Ridge

 

Top Areas for Real Estate Investment in Ghana

Popular often means expensive and some of these popular areas, while good investment options, might be out of reach for most people. Don’t be swayed however, there’s a ray of sunshine on the horizon.

As Ghana’s housing deficit increases and real estate prices soar, developers and house seekers are looking at new areas outside of the popular ones to call home. These emerging areas have great potential for real estate development and are the future of housing in Accra. Real estate developers and other savvy investors have already started making moves to acquire lands to develop in these areas. Properties here are comparatively cheaper and easier to acquire, making them the perfect places to invest in. These areas are:

  1. East Legon Hills
  2. Oyarifa
  3. Tse Addo
  4. Kasoa
  5. Cantonments
  6. Airport Residential Area
  7. Labone
  8. East Legon
  9. Dzorwulu
  10. Abelemkpe
  11. Appolonia City
  12. Roman Ridge

 

 

 

References;

https://www.ghanamusic.com/news/from-diaspora/2019/12/01/akon-spotlights-ghana-as-best-investment-hub-amidst-year-of-return/

 

https://edition.cnn.com/travel/article/ghana-year-of-return-tourism-intl/index.html