Castle gate estates is one of the most popular real estate companies in ghana. The rise of ghanas real estate market has been well documented over the past decade, with an impressive improvement in infrastructure. As in many emerging economies, in ghana, real estate both commercial and residential is fastgrowing. Real estate 2020 building the future as confidence returns to real estate, the industry faces a number of fundamental shifts that will shape its future.
From their website, they are for the middle to highincome earners. Alternative ways of improving effectiveness in the ghanaian estate agency market are recommended. Shelter is one of the basic necessities for human beings nonetheless it remains a critical problem for millions of people. Invest in ghana a stable springboard into west africa. With the huge housing deficit ghana faces, a lot of opportunities and prospects exist for the real estate development industry. Yet, as the industry continues to grow, novel avenues continue to emerge for investment along the value chain. Foreign investors have come in to finance office blocks, malls and residential development, bringing muchneeded modern property onto an undersupplied market. The real estate market of ghana 2016 report africa home. Real estate is the property, land, buildings, air rights above the land and underground rights below the land. Ghanas economic growth and increasing supply of prime real estate assets make it one of africas most interesting markets for investors.
The process of obtaining and evidencing good title can be lengthy and time consuming. Is ghana africas most interesting real estate market. Two acres of land for sale at north industrial area. Download all the latest market reports you need on the real estate industry in ghana. Assistant lecturer at the department of land economy, kwame nkrumah university of science and technology, kumasi, ghana, email. The study adopts a combination of simple random and stratified sampling techniques to select 29 members of the ghana real estate developers association greda and 58 homeowners in accra. Real estate startup company in ghana seeking equity investment. As at 2014, ghana has an estimated population of 27 million, with a growth rate of about 2. Per capita income, growth and financial sector depth in selected african. Affordability is becoming a major driver in ghanas real estate market. While the economic slowdown in 2014 and 2015 has had an effect on the market. Mixed reactions surround real estate growth prospects.
World bank ghanas logistics performance and customs procedures are better than those of its regional peers. Jul 31, 2018 ghanas economic growth and increasing supply of prime real estate assets make it one of africas most interesting markets for investors. The construction sector has thus far failed to deliver rentable space for the majority of ghana s housing needs and the government is calling on more to be done by the private sector. Capital markets the government of ghana intends to develop a 10year capital market master plan. Constituting the ghana deposit protection scheme in 2019. As ghanas economy has garnered increasing international attention over the past few years, so has its previously rather overlooked real estate sector. With the economy growing and incomes rising, ghanas age distribution also reflects the growth potential for the real estate market in the future.
Ghana real estate developers list and construction projects in accra, tema, takoradi, cape coast, kumasi, tamale. Pdf challenges of real estate development in ghana from the. By 2020, real estate managers will have a broader range of opportunities, with greater risks and new value drivers. Ghanas labor market is efficient and the countrys laws make it relatively easy to appoint or retrench employees. Jul 14, 2016 the real estate industry in ghana continues to boom as new residential facilities are springing up everywhere in the country.
The hospitality sector thrives on the natural human urge for adventure. The west african nation saw annual gdp growth rise to a five year high in 2017 at 8. Pretium realty is one of the best goods and service providers in the real estate industry in ghana. As real estate is a business with long development cycles. Few countries in subsaharan africa have a computerised land registry system through which title to land can be deduced. How to invest in ghana real estate is a question both ghanaian and foreign investors have to grapple with.
Others say its from the latin word rex, meaning royal, since kings used to own all land in their kingdoms. This is an overall improvement of nine places since the previous assessment. Analysis and outlook of the ghana real estate market. The construction sector has thus far failed to deliver rentable space for the majority of ghanas housing needs and the government is calling on more to be done by the private sector. The immense opportunities of property development in ghana. The firm offers the full spectrum of propertyrelated services. Ghana is a country that is fast growing with lots of natural resources that include real estate, oil, and gas. Ghana prime properties is one of top property consultants and real estate companies in ghana, providing an online platform for buying, selling and renting exclusive properties for real estate in ghana. The investor is ghana africas most interesting real estate. New market opportunities in ghana oxford business group. List of best real estate companies in ghana buy affordable.
New government initiatives and increased oil revenues are hoped to bring further opportunities for infrastructure and real estate projects, with a range of. This study examines the practice of the dlp in ghanas real estate industry. The investor provides latest news, trends and insights from commercial real estate investment markets around the world. Real estate agents in tema, ghana list of real estate. Jan 07, 2019 maureen ihuamaduenyi experts in the real estate industry are divided on how the industry will fare this year, considering certain economic indices that may determine its growth or lack of it. What are the potential trends over the longer term.
The practice of defect liability period in the real estate. Opportunity for investment in ghanas hospitality industry. The role of government and regulation in the emerging real. Real estate investing is often talked about as an opportunity to invest in a sector where there are hard assets to secure the investment. How is the real estate market in ghana going to change over the next decade. Feb 24, 2020 real estate is the property, land, buildings, air rights above the land and underground rights below the land. A study on the dynamics of the defect liability period dlp in ghana is lacking, notwithstanding the fact that it is a common practice in the real estate industry. The worldwide growth in the real estate industry over the years to 2020 will largely be driven by developments resulting from farreaching economic and social changes. Challenges facing real estate investment and economic growth. Real estate sector in accra has attractive rental yields with average yields of 7. Ghana s slowdown had a noticeable impact on the construction sector. The term real estate means real, or physical, property. We will put up low cost and luxurious houses for rental and direct sale.
The real estate industry in ghana continues to boom as new residential facilities are springing up everywhere in the country. As in many emerging economies, in ghana, real estate both commercial and residential is fast growing. We will put up 1, 2,3,4,5 bedroom houses with toilets, baths, and other facilities. According to the ghana real estate development association greda, the countrys housing deficit is estimated to be 1. Ghanas slowdown had a noticeable impact on the construction sector. As ghana s economy has garnered increasing international attention over the past few years, so has its previously rather overlooked real estate sector. Several foreignowned development companies have made their way into the country to take part in the real estate scramble. The outlook for the real estate or property development sector remains positive as the ghanaian economy general shows great signs of resilience with an impressive growth rate of 8% in 2017 and a downward trajectory of inflation. Ghanas economy gained momentum in 2010 4 5 recording real gdp growth of 7. We seek the views of real estate consultant, peter tsikata on the future of real estate on emerging markets like ghanas.
The rise of ghana s real estate market has been well documented over the past decade, with an impressive improvement in infrastructure. Pdf the practice of defect liability period in the real. The capital, accra, is well placed as a hub for business and travel in west africa and we expect a pick up in the real estate market to reflect that in the midterm. Cpl developers, the 2015 developer of the year ghana property awards and the 2016 bid international quality crown winner has over the years become a strong brand in the real estate market in ghana and beyond specialized building and deli.
Maureen ihuamaduenyi experts in the real estate industry are divided on how the industry will fare this year, considering certain economic indices that may determine its growth or lack of it. Here are five opportunity for investment in ghanas hospitality industry. The purpose is to get a better measure of value than either of these statements alone could provide. However, its prospects appear to be brightening, with sizeable capital allocations in the governments budget and growth of 3. Cheng, zhenguo and liu 2008 developed a theory that states fundamental characteristic. Ghanas economic growth and increasing supply of prime real estate assets make it one of africas most interesting markets for investors, said jll. Recently, the ghana real estate developer association. What is the current status of the real estate market in ghana. The growing middle class, business people, foreign expatriates and ghanaian. In jones lang lasalles real estate transparency index, key growth countries such as angola, nigeria and ghana are all classified as opaque. Cheng, zhenguo and liu 2008 developed a theory that states fundamental characteristic differentiating real estate from financial assets is its illiquidity. Today, real estate consultant, peter tsikata pt brings us an indepth analysis as well as outlook for ghana real estate market. The real estate sector in ghana, its problems and way forward by appau williams miller teaching assistant.
Ghana s economic growth and increasing supply of prime real estate assets make it one of africas most interesting markets for investors, said jll. Analysis and outlook of the ghana real estate market meqasa. Some of these global trends are already evident in the african real estate industry, while others will only start to appear in the future. Ghana real estate developers and construction projects. The future of the real estate market in ghana meqasa blog. Europe is clearly still impacted by a debt liquidity crisis and the sovereign debt crisis whereas the us, while still grappling with its debt issues, saw robust reit and equity fund raising in 2011 and has seen the emergence of a shadow banking market to support the real estate industry. Affordability is becoming a major driver in ghana s real estate market. That is, could accras apparent real estate boom lead to both deteriorating housing. Real estate brokers bring together buyers and sellers of property, assist in price negotiations, and facilitate the work involved in deals from initial interest expressed through money being exchanged at closing. Part of theother political science commons,urban, community and regional planning commons,urban studies commons, and theurban studies and planning commons. Building the future, a report which highlights global trends and makes certain predictions about the real estate industry up to 2020. Newly wedded couples of today have one thing in mind. After officially commencing oil production in december 2010, supported by new oil export revenues and strong export performance of gold and cocoa exports, as well as the rebasing of its gdp, ghana in 2011 became the fastestgrowing.
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