Is 2018 a good year to invest in real estate in Ghana? Should you take the plunge into becoming a professional landlord? There may be lots of questions racing through your mind right now. But before we get into the present condition of Ghana’s real estate sector to foresee the future, lets take a look at certain news of the past.
In 2012, Ghanaian real estate markets were pegged to be great markets for foreign and local investors. Surveys after surveys conducted by credible financial institutions and brokerage houses were unanimous in adjudging Ghana to have some of the most attractive real estate opportunities with profitable returns over short term and long term. Six years later and Ghana seems to still enjoy significant growth opportunities in real estate inspite of external slow downs caused by global recession.
A lot of the credit can be given to Ghanaian leaders who worked hard to keep the political situation relatively stable. Their aggressive government policies and improvement in ‘ease of doing business’ is what is increasing investor confidence and boosting the market. Recently, they enjoyed appreciation and genuine interest after they presented the Ghanaian case to the World Bank/IMF meetings last year. Going by these critical factors, the growth is likely to stay and it would not be surprising that the number of real estate transactions is on the higher side this year.
You may still be curious about whether an investment will actually make sense at all, or should you continue to rent and defer the purchase till you feel you are in a better financial situation. Well, here’s some more fodder for your thoughts.
Taking a cue from the UK real estate markets, what we are seeing around the world is a systematic domination by professional investors. What that means is that the full-time landlords are diversifying their portfolios and creating plans where they see value and returns in a more efficient and organised manner. These are not one-time landlords, making extra money on the side. These are professionals who are comfortable dealing with the buying and selling of property on a regular basis.
Another interesting insight is that people have begun trusting the mortgage brokers once again. After the 2008 recession, brokers are being smart about their deals and lowering risks for the consumer in practical manners. Investing in property is not a short-term money making scheme, but studied and researched like any of your other investments would be. Brokers understand that and are supporting consumers in their search.
Lastly, Accra’s opportunity to ‘buy to let’ is still not reached its fullest potential. There is a lot one can do here. So if you are buying property to rent it out, it might be one of the most profitable rentals in all of Ghana.
If you are seriously considering investing in property this year, all the above factors clearly show that it’s going to a good decision, which is most likely to bring you profit sooner or later.
Looking at an affordable property investment in Accra this year? Get in touch with us and we’ll take you through a variety of properties that suit all kind of budgets. All the best for the year!