Is Ghana good for real estate? Real Estate Rental Yield in Accra, Ghana.
Ghana’s real estate sector asset classes comprises of residential, hospitality and commercial which includes: office, retail and industrial. There are no mobile home park MHP nor self storage but warehouse demand also on the rise. All of these predominant asset classes got hit during the covid19 especially the hospitality which depends on foreign guest.
Is Ghana good for real estate? Absolutely! Real is one of the fastest growing industries in Ghana that give investors higher return on their investments according to Ghana Investment Promotion Centre (GIPC) 2021 sector report. In a report, the average rent yield for residential market is acound 10-13.5%, which is one the highest after industrial sector.
In is office space, rents fell by 21.4% in the last two years because of covid which saw average rent around $28 per square metre according to Knight Frank Africa report 2022/2023. Obviously when supply surpass demand, most landlord had no option than to give concessions for rent. This was global phenomenon.
In retail space average rent was 12.5% the last two years. Ghanaian taste of shopping is increasing as we see more retailers such as Giordano and more shopping malls like West Hills mall, Marina mall, Palace mall, a 6,800 sqm A&C mall just to name a few.
Although Ghana is regarded as industrial hub in West Africa, the industrial sector rents fell by -44% for the last two years due to same problem. With Volkswagen’s decision to open an assembly plant capable of delivering 5,000 vehicles a year there is going to be increase is rent in this market. This will also attract other players to open plants in Ghana. According to GIPC the average yield is from 11-14%.
With that said, post-covid recovery is gradual on all that and there is increase in demand across all asset classes in the country.
WHAT ARE THE WAYS TO MAKE MONEY AS REAL ESTATE INVESTOR IN GHANA?
First, let’s explore rental option. To be conservative, rental income yields here in Accra is very lucurative to make money as real estate investor in Ghana. Can you get your head around why landlords demand 12 -24months rent in advance and get enormous demand? We will say these are the highest numbers you will actually find in Africa.
The second option you can make money is home appreciation value or the rate of appreciation. Accra is one of the fastest growing cities on Africa. Against this background, there is growing demand for housing. Conservatively speaking, home appreciation value is anywhere from 5 to 20% annually depending on many factors such as the location, property type/size and condition including the amenities that comes with it, not to metion any government infrastructure development project in that location. All this could skyrocket the property value. Also, there is forced appreciation that you could implement to increase the value of your property. And that renovating strategical on amenities that will appreciate the property market value.
Third option is short term rentals for cash flow. Airbnb has proven to be the effective and profitable way to generate more income from your home rentals than conventional rentals. You can rent out your property for nightly and even weekly rates. The best part is that you could earn if not a double of what you will earn if you were to rent it the conventional way.
NOW SELLING FAST! BECOME A HOMEOWNER IN A GREENERY, SOLAR-POWERED AND ECO-FRIENDLY GATED COMMUNITY AT KWABENYA, ACCRA
Imagine seeing your kids running around on playground with their friends in the safety of this greenery and lush landscape beautiful, gated community. How comfortable and refreshing will that be? Exactly!
Are you looking to buy your dream home or an investment property for cashflow purposes in Ghana? Are you a westerner planning to make Ghana your next home and looking for African homes for sale? Perhaps you may be worried of the hassle to go through to build yours, we have got you covered. Buying a home from a developer is more secured because we have done all the hard work and due diligence on the land and it has pass the process. Your only job is to own it by reserving your home today.
La margo Villas, is upcoming greenery, lush landscape, eco-friendly, and renewable energy gated community in the beautiful, picturesque hillsview of Kwabenya, Accra featuring townhomes and apartments. Our residence will enjoy energy reduction on utility bills, worldclass amenities , and facilities such as clubhouse, multi-purpose tennis court within the community and most importantly, flexible payment plans. Let’s help you own your dream home. Get in touch with us.
La Margo Villas Neighbourhood Snapshot
Kwabenya is a residential community located in the Ga East Municipal District of the Greater Accra Region. The area is well connected to major roads and highways, making it easily accessible from other parts of the city. It is an ideal area for real estate investment and an emerging sub-market for those who want to escape excessive noise of Accra. Get in touch with us to reserve your dream home today right here. Read also: The 9 Advantages Of Living In A Gated Community In Accra
Are you a foreigner looking to make Ghana your next home or a Ghanaian living abroad? Or you are a local looking for professional real estate service provider in Accra Ghana? We have received several request from our platform visitors looking for real estate services. That is why we set up Villashark one-stop-shop diaspora services , serving all your real estate needs in Ghana. There are 60,000 court cases all related to real estate – land litigation. 40% of people attended court hearing and about 60% attended court hearing a 100 times. 15000 cases are pending and only 20% cases are resolve. You don’t want to spend the rest of your life fighting in court to win your land back.
We have got legal and due diligence support team that will make your real estate acquisition stress free. Check out our services packages and choose the plan that best fit you. We currently offering 15% OFF on all plans on a limited time frame. If you have any questions feel free to contact us.
If you are looking to rent or buy your new house in Accra and beyond, jump on our search bar to search for your preferred property . If you are real estate agent looking to list your properties, you can do so for free on our platform, right here. You can do all of that for FREE.