Advantageous Opportunities Of Property Investment In Ghana

Buy sell Property & Real Estate Investment Guide

Buying Property Tips#1: Choose the Right Location
Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.
Buying Property Tips#2: Study the Local Market Dynamics
It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.

Ghana is considered as the Gateway or main access to West Africa, having affluent business environment. According to the World Bank Ease of Doing Business Report 2013, Ghana ranks No. 1 / 2 / 3 / 4 and 5 on the 'Ease of Doing Business in West Africa', 'Ease of Registering Property in Sub-Saharan Africa', 'Ease of Getting Electricity in Sub-Saharan Africa', 'Ease of Getting Credit in Sub-Saharan Africa' and 'Overall Ease of doing Business in Sub-Saharan Africa' index respectively. In Africa, Ghana is the preferred country to do business and expand market approaches that appeal more than 250 million people across the Economic Community of West African States (ECOWAS) and other proximity to US and EU markets.

The country has strong financial backup with sound policies for areas of land administration, infrastructure, private sector development and less government interference. This makes Ghana a most desirable business and property investment hub in West Africa. In addition, Ghana has membership of World Bank's Multilateral Investment Guarantee Agency (MIGA) and International Centre for Settlement of Investment Disputes (ICSID) that ensures rights of foreign investors and provides disputes resolution mechanism respectively. The established and stable economy of Ghana offers enormous investment opportunities for the real estate investors and businessmen.

Buying Property Tips#3: Choose the Right Property
Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.
Buying Property Tips#4: Do the Math Properly
Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.
Buying Property Tips#5: Consider Additional Expenses
When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.

Investors are provided with guarantees against double taxation agreements and expropriation as the capital, dividends and profits are freely transferable. With an aim to promote the real estate investment, Ghana government has introduced the Land Administration Project (LAP) in 2003, in partnership with the World Bank to form strategies and institutional reform to develop fair, resourceful and affordable land sector and provide land possession security. The property investors can easily flourish their market by applying for property loans as mortgage penetration is nearly 8 percent in Ghana, which is relatively less than the international standards.

The residential and commercial development dominates the property market of Ghana. The country has registered 85,000 transactions and value around US$1.7 bn annually (expected) for residential apartment, over the last 10 years. Ghana includes ten culture and customs rich regions, namely Greater Accra, Ashanti region, Brong Ahafo region, Central region, Eastern region, Upper East region, Northern Ghana, Volta region, Western region and Upper West region. All these regions are extremely diverse from each other and universally popular for their outstanding hospitality, simple conspiracy, palm rich beaches and busy market. Ghana has various tourism attractions that make it most desirable place to visit and live-in.

The breathtaking natural beauty of Ghana clearly reflects in its wild life, flora and fauna. It has 18 wildlife protected areas including 7 National Parks, 5 Coastal Ramsar Sites and 4 Wildlife S anctuaries. The ancient castles and forts tell the glorious history of Ghana like Cape Coast Castle, Elmina Castle, Fort Carolusberg, Fort St. Jago and more. The country is blessed with vast spectacular and sandy coastlines that feel like paradises with lots of sports activities, pleasant accommodation and good food. Ghanaian festivals are vibrant aspect of culture having historical, religious, social and economical value.

Right from the happening city bars to street fun spots, Ghana has various places to drink, eat and enjoy within budget. The street bars, cocktail bars, night clubs and discos dazzle the nightlife of Ghana. This African country is graced with 'N' number of interesting and attractive obsessions that make it most rewarding property investment destination.

Buying Property Tips#6: Inspect the Property
To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.
Buying Property Tips#7: Pick the Right Financing Option
While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.
Buying Property Tips#8: Invest through Equity
One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.
Updated: February 3, 2018 — 12:25 pm
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