In 10 years as a property consultant, and an industry enthusiast, I have discovered there are some factors that attract real estate investors to an investment destination. It does not matter if the said destination is a highbrow or middle class neighbourhood.
The factors that mostly come into play are:
I. Government policies on real estate acquisition
II. Workability and quality of infrastructure (good roads, water, schools, recreation, social amenities etc.)
IV. R.O.E (I) – Return on Equity or Investment.
FOCUS ON GHANA – First Impression
Now let’s relate the principles above to our target country, Ghana
Ghana is a West African, English speaking, country which shares boundaries with the Gulf of Guinea to its south and Cote d’Ivoire to its north. It is home to about 26 million people.
Travelling from Lagos to Accra, the Ghanaian capital is about an hour by flight. The Kotoka International Airport, though small, stands out for its efficiency and for the high level of courtesy and professionalism displayed by workers.
On arrival, I am greeted by the word “Akwaaba”, meaning welcome, displayed on large billboards visible as you exit the airport.
FOCUS ON GHANA – Accra and Environs
Accra is a bit like Atlanta, Georgia, only smaller, with two buzzing down-towns which are, at most, 10-15 minutes apart. Common with these hubs are stunning pieces of real estate, sparkling clean streets, and the presence of five star hotels and restaurants.
While premier Ghanaian schools doesn’t sit on real estate as large as contemporaries in Nigeria, their alumni have gone on to make their mark on the world stage. An example of this is Kofi Annan, the 7th Secretary General of the United Nations, who passed out from the elite Mfantsipim Methodist School, Cape Coast.
Ghana is a destination for lots of holiday seekers due to its friendly and tolerant people, tranquillity environment, and stable power supply. Violent crime is at a minimum and American and European tourists go about on the streets, freely interacting with the locals. This is unlike in our country where siren blaring, gun totting policemen serve as a shield around them.
There is a whole lot to write about this enviable country but I’ll reserve that for another time.
Investment Opportunities in Ghana
Remember we mentioned some factors considered by investors before investing in the real estate sector? Well in Ghana, these factors come together for your good.
In Accra, authorities launched a National Housing Policy, created to ensure an enabling environment for the private sector to continue to provide leadership in the delivery of houses; infrastructural development is progressing at a rate similar to that found in developed economies; many highbrow and middle class neighbourhoods exist; and for the last few years, investors have had their investment value rise on an average of 10% per annum.
… On this, I’m pleased to inform you about a new investment opportunity called Appolonia City, a master-planned mixed-use and mixed-income urban development designed to let you live, work and play.
Located 30KM from Accra’s main business node, the 2,325 acre city is being developed for residential properties, retail and other commercial centres, as well as schools, healthcare and other social infrastructure and is complete with world class utilities.
*This article was first published on Luxury Villas Group Blog