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18 January
2010
Real Estate in Ghana
Against all the claims that we are highly indebted
and poor, Ghana’s property value keeps rising. Perfect example, I bought a
piece of land in 2001, now, 9 years later it is worth 10x the purchase
price. Not to mention, gold is soaring through the roof,
we can’t supply the demand for our cocoa, trees are coming down everyday
to supply the paper for that funny money and now we got oil. Bottom
line, everything is selling, more than ever and the value of the land
over all these resources is going through the roof.
Even before oil we
were experiencing a constant growth in property rates higher than our
Western counterpart. It has gotten to the point that buying in Accra is
virtually out of the question, with empty plots going for an average of
$75,000 in most decent areas. Rents are also peaking every day, both
residential and commercial, nothing sits, it’s a sellers market.
Fortunately there are still
plots of land (100' x 80') on the outskirts of
Accra, the capital city, where one can acquire for $3,000 to $5,000. Thus
one can utilize the bulk of their savings on the buildings that will house
your family and provide income. It will only be another
2-3 years before these lands double in price, however, if you started now, by buying a piece of
land and engaging a contractor to build upon it over the next year or 2, what ever works, then you can realistically and
practically provide your family with the security of a safe haven in
heaven.
Another suggestion is that you buy land that can be
both residential and commercial. Instead of just building a home for
yourself, build a home with guest rooms or build structure that houses 4
self contained apartments and stay in one. Or you could build a small
office complex, with say 4 stores on the ground level, 8 office suits on
the first 2 floors and a loft on the top. The money you will earn in rent
will sustain you the way nothing else can, allowing you to comfortably get
your feet wet, without being hung out to dry before you can get firmly
planted in the land.
Peep
the following lands for sale:
Land in Ghana |
