The Ghanaian diaspora is estimated to be around three million people, spread across various countries in Europe, North America, and other parts of the world. Many members of the diaspora maintain strong connections to their home country, and some have even returned to Ghana to start businesses or invest in the local economy. As a result, the diaspora has become an important source of capital and investment for Ghana’s real estate industry.

READ ALSO: Real estate agent in Ghana: Factors to consider in choosing the right real estate agent

Remittances 

One of the key ways in which the diaspora is impacting the real estate market in Ghana is through remittances. According to the World Bank, remittances to Ghana totalled $3.6 billion in 2020, making it the largest recipient of remittances in West Africa. A significant portion of these remittances is being invested in real estate, either through the purchase of property or the financing of development projects. This influx of capital is helping to fuel the growth of the real estate industry in Ghana and is contributing to the construction of new homes, office buildings, and other types of properties.

READ ALSO: Best 10 real estate companies in Ghana

Preferences and tastes

Another way in which the diaspora is impacting the real estate market in Ghana is through their preferences and tastes. Many members of the diaspora have lived in developed countries and are accustomed to certain amenities and design standards. As a result, they are demanding higher-quality housing and more modern, energy-efficient buildings. This demand is leading to the development of more high-end properties, including luxury apartments and gated communities.

Vacation rentals

The diaspora is also contributing to the growth of the vacation rental market in Ghana. Many members of the diaspora own second homes or vacation properties in Ghana, which they rent out to other members of the diaspora or tourists. This has led to the development of new vacation rental properties, particularly along the country’s coast and in other popular tourist destinations.

READ ALSO: Breath-taking properties for sale in Ghana

In addition to these direct impacts, the diaspora is also having an indirect impact on the real estate market in Ghana. Many members of the diaspora are entrepreneurs or professionals who are starting businesses or taking on leadership roles in Ghana’s economy. This is leading to increased economic growth and job creation, which in turn is contributing to the demand for housing and other types of real estate.

Challenges associated with the diaspora’s involvement in Ghana’s real estate industry

Despite these positive impacts, there are also some challenges associated with the diaspora’s involvement in the real estate market in Ghana. One challenge is that the high demand from the diaspora for certain types of properties, such as luxury apartments or vacation rentals, may lead to the development of properties that are not accessible to the average Ghanaian. This could exacerbate existing inequalities and make it more difficult for low and middle-income Ghanaians to access affordable housing.

READ ALSO: All you need to know as a real estate investor in Ghana

In conclusion, the diaspora is having a significant impact on Ghana’s real estate industry, both in terms of the direct investment they are making and the indirect effects of their economic activity. While there are some challenges associated with this involvement, overall, the diaspora’s contribution is helping to fuel the growth of the industry and to create new opportunities for both Ghanaians and members of the diaspora alike.

The most seismically active areas in Ghana

The most seismically active area in Ghana is the eastern region, particularly in the vicinity of Akosombo Dam and Lake Volta. This area has experienced minor earthquakes in the past, and there is a potential for larger earthquakes in the future. Other areas of the country that may be at a slightly higher risk for earthquakes include the northern region, particularly around the towns of Paga and Navrongo.

It’s important to note that the risk of earthquakes in Ghana is generally considered to be low, and building codes and standards are not designed to withstand earthquakes as they are in many other parts of the world. However, it’s always a good idea to be aware of the potential risks and take appropriate precautions to ensure your safety. At Landlord Africa, however, we do not take chances. All our buildings a designed and built to withstand earthquakes as much as possible.

Reasons to Avoid Building in Earthquake-Prone Areas

As an experienced property development company, we urge potential buyers to avoid investing in real estate in earthquake-prone areas. Here are several reasons why.

Safety Concerns

Earthquakes can be incredibly dangerous and even deadly. Buildings constructed in earthquake-prone areas may not be designed to withstand the forces of an earthquake, and could easily collapse during a seismic event. This can result in serious injury or even death for anyone inside the building. When buying property, safety should be a top priority, and investing in an earthquake-prone area may put you and your loved ones at risk.

READ ALSO: Breath-taking properties for sale in Ghana

Property Damage

Even if a building in an earthquake-prone area does not collapse during an earthquake, it may still suffer significant damage. This could include cracks in the foundation or walls, broken windows, or other structural damage. Repairing this damage can be expensive and time-consuming, and may require extensive work to ensure the safety of the building. Additionally, property insurance may be more expensive in earthquake-prone areas, and may not cover all types of damage caused by an earthquake.

Difficulty Selling Property

Investing in a property located in an earthquake-prone area may make it more difficult to sell in the future. Buyers may be hesitant to purchase a property in an area that is at higher risk of earthquakes, even if the building has not yet been damaged. This could result in longer wait times to find a buyer or lower offers than you may have received in a different location.

READ ALSO: High-value neighborhoods for real estate investment in Ghana

Disruption to Daily Life

Earthquakes can cause significant disruptions to daily life. They may result in power outages, water shortages, or road closures, making it difficult to go about your daily routine. In addition, businesses may be closed for extended periods of time, leading to financial losses for owners and employees. Investing in a property located in an earthquake-prone area could mean experiencing these disruptions more frequently than in a less risky location.

Emotional Toll

Experiencing an earthquake can be traumatic, and can have long-lasting emotional effects. Even if a building does not collapse or suffer significant damage, the fear and anxiety caused by an earthquake can be overwhelming. Investing in a property located in an earthquake-prone area may mean constantly worrying about the next seismic event, and the potential damage it could cause.

READ ALSO: All you need to know as a real estate investor in Ghana

In conclusion, while investing in real estate can be a lucrative opportunity, it is important to consider the potential risks involved. Investing in a property located in an earthquake-prone area can put your safety, financial security, and emotional well-being at risk. I urge potential buyers to carefully consider these risks before making a purchase and to explore alternative locations that may be safer and more stable in the long term. If you are looking for apartment buildings that are not within the earthquake-prone areas then you should contact us, Landlord Africa as we seriously consider that before erecting a building.

Landlord Africa has been at the forefront of developing luxury properties in Ghana, and in this article, we will discuss what to look out for in luxury properties in Ghana. Here are some of the things to look out for when searching for your dream home in Ghana.

The location matters

The location of a luxury property is a crucial factor to consider. In Ghana, luxury properties are located in some of the most prestigious and affluent neighbourhoods such as Cantonments, Airport Residential Area, East Legon, and Sakumono. These areas are known for their high-end restaurants, shopping malls, and other amenities, making them perfect for luxury living.

READ ALSO: High-value Neighborhoods for real estate investment in Ghana

Design and Architecture

Luxury properties in Ghana are designed and built with the highest quality materials and attention to detail. From the exterior to the interior, luxury properties are built to impress. The architecture of luxury properties in Ghana is usually a blend of modern and traditional styles, with a focus on incorporating local materials and designs. Luxury properties in Ghana should meet high standards of quality and design, with features such as spacious rooms, modern appliances, elegant furnishings, security systems, and landscaped gardens. You should also check the condition and maintenance of the property, as well as the reputation and track record of the developer or seller.

Amenities

Luxury properties in Ghana come with an array of amenities, including swimming pools, gyms, saunas, and gardens. Some luxury properties also come with additional amenities such as cinema rooms, wine cellars, and indoor game rooms. These amenities are designed to provide a luxurious living experience for the residents.

READ ALSO: All you need to know as a real estate investor in Ghana

Security

Security is a top priority for luxury properties in Ghana. They are equipped with state-of-the-art security systems such as CCTV cameras, intercom systems, and manned security gates. This provides residents with peace of mind knowing that they are safe and secure in their homes.

Price

Luxury properties in Ghana can vary widely in price depending on the location, size, quality, and demand. You should have a realistic budget and do some research on the market trends and prices of similar properties in the area. You should also factor in the costs of taxes, fees, insurance, and maintenance when calculating your total investment.

Investment Value

Investing in luxury properties in Ghana is a wise decision as they provide excellent investment value. The real estate industry in Ghana is rapidly growing, and luxury properties have consistently shown appreciation in value over the years. This makes them an excellent investment opportunity for those looking to invest in the Ghanaian real estate market.

Legal

Buying a luxury property in Ghana involves a complex legal process that requires professional guidance and due diligence. You should hire a reputable lawyer who can help you with the title search, contract review, registration, and transfer of ownership. You should also be aware of the laws and regulations that govern property ownership in Ghana, such as the Land Use Act, which restricts foreign ownership of land to 50 years renewable leases.

READ ALSO: Can foreigners buy property in Ghana, legally?

In conclusion, luxury properties in Ghana offer a unique and luxurious living experience. They are located in some of the most affluent neighbourhoods, designed with the highest quality materials, equipped with a range of amenities, and provide excellent investment value. At Landlord Africa, we are committed to developing luxury properties that meet the needs and expectations of our clients. Contact us today to learn more about our luxury properties in Ghana.

With one of the fastest-growing economies, Ghana has become a gold mine for investors. Coupled with its accelerated rate of development and reputation as one of the best tourist destinations in the world, there is an increase in demand for housing and other types of property in Ghana. As a result, owning property in Ghana should not just be at the top of your bucket list, it should be your bucket list. Whether you are planning to rent out, work out of or live in them, you could never go wrong by investing in property in Ghana. But one serious question you should ask yourself is “what is the best type of property to own in Ghana”? Well, that’s where this article comes in handy. Read more to determine the best type of property to own in Ghana.

READ ALSO: Can foreigners buy property in Ghana legally?

What are the types of properties in Ghana?

There are two main types of property in Ghana. These are:

• Commercial properties
• Residential properties.

Commercial Property

Commercial properties are used primarily for business purposes. This includes office buildings, wholesale and retail stores, warehouses, storage facilities, and factories. If you are looking to start or expand a business or you are looking to own property to rent out to businesses, owning a commercial property is a good investment for you. With Ghana’s rapidly growing economy, there is more demand for commercial property. Commercial property will generate income through rent, can appreciate over time, and provide a stable source of cash flow.

Residential Property

This type of property is used primarily for living purposes. Also referred to as housing property, residential property is used as a living space, meaning one can either live in such a space or rent it out to others to live in. If you are looking for a home or looking to invest in housing or you intend to start an Air BNB in Ghana, this is the type of property for you. In Ghana, there are 3 types of housing/ residential properties but only two of them are of importance to us and these two are:

Traditional housing

Traditional housing refers to property homes that are built using unique traditional building methods, architectural styles, materials, and intricate decorative designs. They can be made of mud, wood, or thatch, and are commonly found in rural areas. Traditional housing is usually designed to suit the needs of the occupants and their lifestyles. If you are looking for a residential property where you can find a sense of community among other residents, this is the type for you. Traditional housing properties tend to have multiple large spacious rooms built to host more than one resident. Investing in such a property means you can generate a lot of revenue.

READ ALSO: Real estate agents in Ghana: Facts to consider in choosing the right real estate agent 

Modern Housing 

Modern housing refers to residential properties that are built using modern building methods, architectural designs, and materials. Characterized by innovative contemporary architectural styles and designs, these properties are designed to meet modern lifestyle needs. Modern housing properties often feature modern amenities such as air conditioning, advanced plumbing and electrical systems, heating systems, and security systems. These include

Apartment/ Flats

These are one of the most popular types of modern housing properties. Apartments usually consist of a building or complex that has multiple residential units. These properties may come in all shapes, dimensions, and sizes. The individual units within an apartment may also vary in size, layout, and the kind of services or amenities provided, with some having a single bedroom, bathroom, kitchen area, and living space, while others may have multiple bedrooms, terraces, pools, and more. An advantage of apartments is that you get to enjoy modern amenities in a nice quiet and private setting. Some apartments may have fitness centers, business centers, lounges, restaurants, and more. Based on your preferences, you may choose to opt for:

• 1-3 or, more bed apartments or flats
• Studio apartments
• Duplex
• Penthouses
• Condominiums

If you are looking to buy an apartment, one of the best properties you can find on the market is One Elm by Landlord Africa. One Elm is a magnificent architectural edifice characterized by delicate finishes and diversified textures that give the property a sophisticated and breathtaking appearance. The exquisite landscape, manicured gardens, and generously designed glass window panes further complement the elegance of this refined structure, transforming it into a picturesque haven. The interior of this structure is, by no means, lacking. With gleaming marble floors and elegant fixtures, this property is a mix of comfort and luxury. Whether you are looking for a 1, 2, or 3-bedroom apartment, a duplex, or a penthouse, this is for you. With a fully fitted kitchen, ensuite bedrooms, indoor playground, efficient high-speed Wi-Fi, state-of-the-art gym and restaurant, and 24-hour security and surveillance, this property will cater to your every need, even the ones you didn’t know you had, including a stable and safe environment for families, appreciation in value over time, and the potential to generate rental income. Another benefit of owning this property is its ease of access to some of the best social facilities in the city. One Elm is a few minutes drive from some of the best restaurants, clubs, and social centers in the country. Another wonderful reason to own a property at One Elm is its location. It is located right in the vicinity of the airport, so you know this property is prime real estate and that its value will keep rising. Therefore, for all the investors out there, this is one property you should own.

READ ALSO: Becoming a real estate agent and dealing with agents in Ghana 

The Essence

Another exceptional property to own is The Essence. This magnificent piece of property is the embodiment of perfection. This uniquely designed property is situated in an intimate yet majestic location, where intricately structured glass windows peak into an idyllic private rooftop infinity pool. The interior is exquisitely designed with the sole purpose of providing a luxurious yet comfortable environment. The Essence provides beautifully designed spacious rooms, a fully fitted kitchen, a regal lounge, 24-hour security services, and more. In The Essence, privacy is of the utmost importance, so if you are someone who likes to keep things quiet or you are looking for a place where you can live, think and sleep peacefully, this is the property for you. This property is also located in one of the locations in the country, granting you access to the best schools, hospitals, restaurants, clubs, and more. The Essence has any type of apartment you may need. Whether it is a 1, 2, or 3-bedroom apartment, duplex, penthouse, or studio apartment, The Essence will be perfect for you. Other benefits of owning this type of property include a stable and safe environment for families, appreciation in value over time, and the potential to generate rental income.

Landlord Boulevard

If you are looking for an exceptional apartment that is worth buying or owning, you should check out Landlord Boulevard. This awe-inspiring work of art is one of the most beautiful structural properties in the country. Aside from being located in one of the best vicinities in Accra, this sophisticated property has some of the best amenities any property has to offer. With a well-equipped gym, elevator, lounge, standby generator, swimming pool, immaculate and modern-fitted kitchen, concierge, outdoor cabana, multi-purpose space, and connection to multiple media points, there is nothing you could want in a property that Landlord Boulevard doesn’t have. Studios, apartments, and duplexes, they have it all. With access to all the best places in Accra, top-notch parking and 24-hour security, a stable and safe environment for families, appreciation in value over time, and the potential to generate rental income, this is not a property you would want to own, this is a property you should own.

READ ALSO: High-value Neighborhoods for real estate investment in Ghana

If you are looking for a company that can provide you with the best types of property in Ghana, look no further than Landlord Africa. As one of the leading real estate companies in Ghana, Landlord Africa specializes in the sale of various types of properties. The company has an impressive portfolio of properties ranging from residential to commercial, agricultural, and industrial properties. With Landlord Africa, you need not worry about technicalities like land ownership documents as they will all be taken care of by professionals. Properties sold by Landlord Africa offer several benefits, including a stable and safe environment for families, appreciation in value over time, and the potential to generate rental income.

There are many different types of property in Ghana. They all have different unique features and they are worth every cedi invested in them. Because the properties serve different purposes, classifying the best property will ultimately depend on what the property is to be used for or who is using it.

A lot of young and vibrant youth are now venturing into such business because it’s really an avenue for a steady income and as such requires a lot of investment though. One may ask, what is this real estate development thing we have been hearing? 

Real estate development is simply the process of increasing the value of a real property. In many cases, those who enter into the real estate development acquire property and develop them into residential or commercial buildings most of the time and many real estate developers start their careers as real estate agents, while others start in construction. Real estate has to do with making improvements that are tangible to properties in other for them to have value

Real estate includes lands, temporary or permanent structures situated on that land. When we think of having a home of our comfort either for rent or to own in future, real estate is the best to think of because all the properties are built with love and passion and are mostly situated in a very serene environment. 

 READ MORE: The most frequently asked questions in the real estate industry

Which area is best for real estate investment?

Uhm! If you ask me, I’d say that there are a number of high-value neighbourhoods for real estate investment in Ghana. If you are looking for the best area for a real estate investment, you should look out for one that is serene, where you can easily access light and water and as well in an environment where there’s access to social facilities. 

READ MORE: Where is the best place to live in Ghana?

What is the biggest estate in Ghana?

There are a lot of beautiful estates in Ghana and they’re very big as well. Hands down, Landlord Africa stands tall on the list. They deal with acquisition, development, construction, management, sales, and leasing. They think about their clients and make sure they create the desired and suitable environment for living and commerce for them. Quao Apartments have mind-blowing masterpieces: The Essence, Landlord Boulevard and KSG Gardens.

Is real estate profitable in Ghana?

There are a number of high-value neighbourhoods for real estate investment in Ghana and hence it is very profitable to invest in such business. One can generate good returns on their investment. Properties in Ghana keep increasing in value and investing in real estate helps developers to expand their business and customers. Renting houses out in Ghana here is indeed a great way of earning extra income as a real estate investor or developer. 

READ ALSO: Real estate investment in Ghana

What is the most expensive place in Ghana?

Ghana is a beautiful place and due to the economy now, there are a lot of expensive places in Ghana at the moment. These places such as Trassaco valley, Roman Ridge, Cantonment, Osu, Aburi, Airport Residential Area, East and West Legon just to mention a few are some of the most expensive places in Ghana, precisely Accra the capital city. These places are commercial areas and high-value neighbourhoods for real estate investment in Ghana since they have most industries situated there, hence making them quite expensive. 

Top 10 estates in Ghana and their prices.

Lately, estates are the talk of the town and there are a number of high-value neighbourhoods for real estate investment in Ghana. The estates are a lot and I can’t name all but the few I know of I’ll rate as the top ten(10) estates in Ghana. 

These are the average prices you can get real estate for, either buying or renting.

Beautiful estates in Ghana

Hearing the word estate alone gives us a very beautiful, serene, comfortable etc picture of a home or property in mind and sometimes feels like it’s a dream but hey!! It’s not to be trusted. There are a lot of beautiful estates in Ghana and you can’t even imagine they exist because they’re like heaven on earth if you have a glance at them. Some of these estates are Quao Reality, Devtraco estate, Dansoman, Spintex, Trasacco valley, Aburi mansion, Baby Jet mansion etc. High-value neighbourhoods for real estate investment in Ghana are a lot and we can’t mention all nor can we rank them but you can 

READ MORE: Making an informed property investment

It has always been a dream to our property and trust me you can actually have that come to pass. Quao Reality is one of the trusted real estate investment companies in Ghana that turns the dream of many individuals into reality by providing them with luxury homes with more comfort. 

Quao Reality is well versed in their field of expertise and they come together to create the perfect workforce to meet the desires of their clients. We focus on acquisition, development, construction, management, sales, and leasing. With Quao, buying a house is that simple. Don’t let society deceive you, you can actually own a property today if you desire. Contact us today!

Can a non-citizen buy a house or apartment in Ghana?

Yes! You can definitely buy an apartment in Ghana, anyone can. The current laws of the country simply state that any person with enough funds citizen or not can invest in the real estate industry, so litigations about the duration and purpose of holding real estate can apply to non-citizens of Ghana as they can not hold a leasehold interest in property that exceeds fifty (50) years. 

 For an ex-pat or a foreigner who wishes to buy properties or invest in the real estate sector, it is important to register with the Ghana Investment Promotion Center (GIPC).

  READ MORE: Housing policy of Ghana 

Get A Luxury Apartment with  Landlord Africa in Accra 

Apartments for sale or rent in Accra have varying price ranges based on the location or the duration of stay. Our apartments in Accra are perfect for those seeking a luxury Lifestyle. Purchasers can make their choice between a studio, one-bedroom or two-bedroom apartment. 

Available from $87,980 for a studio apartment, our apartments in Accra are optimally designed to make the best use of space and light and are perfect for those seeking a luxury Lifestyle. 

KSG Gardens

If you just so happen to stumble onto this page from your frivolous search for houses on sale in Accra then Pristine Gardens might be what you need. With its asking price starting from $275,000, this prime piece of real estate nestled in Community 14, Sakumono offers you a 4 bedroom apartment plus a  nanny’s quarters with additional amenities and facilities like  24-hour security: high-speed internet connection: backup water supply: swimming pool:  well-manicured garden and standby generator making the KSG Gardens the ideal home for you. 

VIEW MORE HOUSES FOR SALE IN ACCRA: Landlord Africa Square

The Essence

This space is definitely worth living in, with its luxurious sky lounge, gym, entertaining bar and infinity pool at your disposal. The Essence is among  Ghana’s top 10 houses for sale in Accra.

This amazing apartment building has a magnificent view of the winding business district of Accra. Talk of experiencing the highest level of grandeur a building can offer through the best of designs, sustainability and modernization in the heart of the Kotoka International Airport- conveniently accessible from the Tema motorway and the George Walker Bush Highway (N1).

Landlord Boulevard 

An architectural feat of the Gold Coast, the features a memorable minimalist design in the perfect setting of East Cantonments. This beauty gives residents the comfort of a lifetime. 

Landlord Boulevard also has a unique blend of modern facilities such as a well-equipped gym; swimming pool;  lounge; standby generator;  an exquisite kitchen; concierge; 24-hour security; backup water supply; outdoor cabana; well-manicured garden; elevator and multi-purpose space storage. 

How is rent paid in Ghana?

The cost of rent in Ghana is still up for debate as some Ghanaian landlords charge rent at an advance quarterly or biannually.  Landlord Africa has houses and apartments for sale with prices ranging from $88000 to over $600000. This includes studios, 1-4 bedroom apartments, 4 bedroom houses and even penthouses. You can own or rent a KSG Gardens home today, starting from $275,000 whether you live in Ghana or abroad.

READ ALSO: RENT ACT, 1963 (ACT 220)

Where is the best place to live in Ghana?

Undoubtedly Accra is the best place to live in Ghana, especially if you are new to the country. The city has some of the best spots to live in Ghana, Accra offers you homes with luxury and class, like Landlord Boulevard and The Essence which has apartments with varying layouts and offers you the finest lifestyle in Ghana. 

Apartment Types Available

Ranging from fully-furnished luxury one, two, and three-bedroom apartments, apartments for sale in Accra like Landlord Boulevard, the Essence and pristine gardens include all the amenities you would need: fully-equipped kitchens, spacious living spaces, concierge services, WiFi and priceless views across the golden Sandton skyline. Our property types include: 

• Studio Apartment
• 1 Bedroom Apartment
• 1 Bedroom Duplex Apartment
• 2 Bedroom Apartment
• 2 Bedroom Duplex Apartment
•  Bedroom Apartment
•  Bedroom Duplex Apartment

Is it expensive to build a house in Accra?

Building a house in Accra will depend on your budget as it is crucial to understand the direct and indirect costs involved in the process. Comparably to Europe or North America building in Ghana is relatively affordable but the building can be very nerve-racking there are always increasing costs you need to factor in and while the costs may vary across the city as per the site, labour charges and raw material outlays, an approximate idea about the associated investment would go a long way. If you factor in all these expenses, building a home from scratch can be very stressful and bankrupting. That is why you need to consider purchasing a house or an apartment from Landlord Africa. 

READ ALSO: Key tips for first-time homebuyers 

Choose Landlord Africa for a luxurious home in Accra

Buying a home can be an overwhelming but prudent financial and personal decision so allow us to help you find your dream house. We offer our clients an exclusive selection of premium apartments and townhouses in Accra, in the finest prime real estate locations in Ghana. With options to choose from our apartments at The Landlord Boulevard to our houses at KSG Gardens provide you with a space, you can call home. Book an apartment with Landlord Africa today!

If you are looking into houses for sale in Accra, we have assembled a list of 3 condominiums that are now selling and in prime real estate locations in Accra.

Landlord Boulevard 

An architectural feat of the Gold Coast, the Landlord Boulevard features a memorable minimalist design in the perfect setting of East Cantonments. This rare gem has an elegant, yet homely feel that gives residents an easy-breezy sense of living.

Landlord Boulevard also has a unique blend of modern facilities such as a well-equipped gym: swimming pool:  lounge: standby generator:  an exquisite kitchen : concierge: 24-hour security: backup water supply: outdoor cabana: well-manicured garden: elevator and multi-purpose space storage. 

Still, under construction, this community promises to offer residents a  perfect balance between abundant green spaces,  excellent connections to the airport, top-notch healthcare facilities, prestigious schools,  an arsenal of attractions with a huge diversity of restaurants, cafes and shopping stalls, giving you the luxury of taking a step back from experiencing the hustle and bustle of everyday life in Accra; all this at a wonderful starting price of  $87,980. 

KSG Gardens

If you just so happen to stumble onto this page from your frivolous search for houses on sale in Accra then Pristine Gardens might be what you need. With its asking price starting from $275,000, this prime piece of real estate nestled in Community 14, Sakumono offers you a 4 bedroom apartment plus a nanny’s quarters with additional amenities and facilities like  24-hour security: high-speed internet connection: backup water supply: swimming pool: well-manicured garden and standby generator making the KSG Gardens the ideal home for you. 

The Essence 

 This space is definitely worth living in, with its luxurious sky lounge, gym, entertaining bar and infinity pool at your disposal. The Essence is among  Ghana’s top 10 houses for sale in Accra.

This amazing apartment building has a magnificent view of the winding business district of Accra. Talk of experiencing the highest level of grandeur a building can offer through the best of designs, sustainability and modernization in the heart of the Kotoka International Airport- conveniently accessible from the Tema motorway and the George Walker Bush Highway (N1).

READ ALSO: The Ghanaian dream–the real estate perspective

Where is the best place to live in Ghana?

Ghana has a lot of beautiful livable spots across the country. However, if you have not been in town for a while or you are a tourist with no established local contact, the Greater Accra region is your best bet. Now I am sure you are curious about houses for sale in Accra or you may be wondering what your housing situation could look like if you were to visit Ghana. In this article, we will explore some of the very best accommodations Accra has to offer.

READ ALSO: Where is the best place to live in Ghana?

Which is better, to buy or build a house in Accra? 

This is quite the question because there are many factors to consider in both buying and building a house in Accra. On one hand, buying a house means escaping the torment of being buckled down with construction details which also takes up more time when you could have found your dream house in a relatively shorter time.

This, to some, is a much cheaper option than building a house in Accra, irrespective of the downside being the occurrence of a potential bidding war which could either increase or decrease the price of the house depending on the market. 

On the other hand, building a house in Accra offers you the luxury of choosing your desired architectural style, building materials and home decor. Unfortunately, the perk of building a house comes with unexpected costs, concrete planning and over extended periods, not to mention the stress of dealing with building contractors and site managers to make your dream house a reality. With Landlord Africa, we do our best to make our homes and apartments exactly what you are looking for. We finish our buildings with finesse and give you room to edit the interior to suit your taste and style.

READ ALSO: Property leasing in Ghana

The bottom line is to make a critical decision based on your preference and after weighing the pros and cons of both options; building or buying a house in Accra. 

This notwithstanding, buying a house in Accra cannot be any more fulfilling than with Landlord Africa. At Landlord Africa, we believe a house is more than just a building, but a lucrative investment and a place you can call home; the warmth of life. Whatever your reason may be to acquire houses for sale in Accra or buy a house for residential purposes, we have a solution for you. Send us a message and we will reply within minutes. Landlord Africa is your one-stop agency to help you compare prices and look for the best deals on owning a suitable home in Accra.

A mortgage is a loan a person takes out from an institution to finance a house, buy a land or purchase property. Mortgages usually come in three parts:

Monthly payments : The monthly payments paid over a period of time, which usually includes payment on the principal of the loan as well as interest.

Fees: The various costs one may have to pay up front to get access to the loan one is applying for.

Down payment : The amount one pays up-front in order to secure a mortgage.

Where can one apply for mortgages in Ghana?

Typically in Ghana, one can apply for mortgages from banking institutions such as:

 Absa: Absa promises an easy and faster way to get access to mortgages with 90% financing for home purchase and up to 70% for equity release and home improvement.

Republic Bank : Republic bank offers loan options from low income to high income receivers so that one can buy, build and own their own home.

Cal  bank : Calbank offers mortgage loans that help individuals purchase a home of their choice with convenience and good interest rates.

First National Bank (FNB) : FNB offers diverse home and land-owning options to both new home/landowners and existing home/landowners.

Interest rates

According to Statista, the prevailing mortgage rate in Ghana in 2020 stood at 23%. However, these rates differ from bank to bank.

The cedi conventional mortgage was also pegged at 24% in October 2020.

Types of mortgages

– Home Equity Mortgage

This mortgage type allows homeowners to borrow against the equity of their property to help with cash flow. This is only applicable to people who have made full payment on a property.

– Home Purchase Mortgage

This mortgage type helps both individuals who want to buy a property for residential purposes i.e. rent or purchase. A minimum of 15% is expected from the one requesting for the loan and paid within the span of 15-20 years.

– Home Completion Mortgage

For individuals who want to complete a property they own but are strained by financing challenges. The property could have been funded initially with the owner’s money, bank, a mortgage company or employer.

– Home Improvement Mortgage

This loan type helps individuals who are looking to refurbish or renovate their homes.

How does one qualify for a mortgage?

Depending on the institution and loan option, you will be required to submit:

• A completed application form

• Proof of identity in form of a passport, license, voter’s ID, etc.

• Proof of income

• Offer letter from the property owner.

• Proof of address

• Building permit

• Credit History

• Property documents

To qualify, one must show proof of repayment, have a good credit history and must be within legal age.

Which mortgage is right for you?

Available in Ghana are different options to choose from mainly depending on one’s financial capacity as a buyer. These options are available to Ghanaians in and out of the country.

Home Purchase : This is for individuals who already own a property or two but want to acquire another property.

100% Purchase : This is for individuals who do not have substantial money to be eligible for a mortgage, so the bank makes a 100% deposit on their behalf. With this option, one would be required by the bank to take an insurance policy on the property.

Buy to Let: This is for individuals who have properties they live in but want to purchase another one for the purpose of renting.

Can non-Ghanaians apply for a mortgage in Ghana?

To qualify for a mortgage in Ghana as a Non-Ghanaian, one may either have to have relational ties (relative, husband/wife, child) or to have been working in Ghana for at least 5 years.