Private Opportunities in Ghana Real Estate

Why invest in real Estate in Ghana? Ghana’s growing population, buoyant economy and favourable investment environment make its real estate market increasingly dynamic. In spite of complicated issues over local lending and land ownership, demand for housing spans the entire spectrum of the population, from wealthy Ghanaians and a growing number of expatriates through a rising middle class to lower-income groups.

The roots of the current housing market boom began in the early 1990s, when the financial sector was liberalised, and the sector’s expansion has since gone hand-in-hand with that of the economy as a whole, generally growing steadily although also seeing occasional setbacks and slowdowns during periods of economic turbulence.

It has not, however, gained a great deal of international attention. But now, with Ghana one of the fastest-growing countries in the world – the IMF expects GDP to rise by 7.3% this year, following 13.5% in 2011 – investors and authorities alike are realising the potential – and importance – of the nation’s real estate sector.

Last month, the government sealed an agreement with the Ghana Real Estate Developers Association (GREDA) reaffirming a commitment to encourage the growth of private real estate firms to meet the country’s housing needs, particularly at the lower-end of the market where there has been significant discussion as of late but comparatively limited activity.

Ghana has an encouraging framework for real estate investment, with freely-transferrable capital and profits, but projects have generally concentrated towards the middle and the top of the market, where margins are bigger and demand has remained relatively stable. As a result, a shortage of affordable housing is one of the biggest challenges facing the country, which is otherwise a relatively prosperous and stable part of West Africa. While the gap between supply and demand is most acute at the bottom of the income scale, there is also rising demand in the middle- and high-income segments, in which local and international developers are showing increasing interest.

Speaking at a workshop on housing delivery, Nii Nortey Dua, the deputy minister for water resources, works and housing, reiterated the government’s commitment to reform to encourage private sector property development. Overall, Ghana is estimated to have a shortfall of around 1m units.

“We are willing to partner [with] the private sector to remove all the obstacles facing them so as to improve the socio-economic well-being of the people,” Dua said, adding that investment and public-private collaboration could help the country meet the objectives of the Better Ghana Agenda, the government’s national development programme.

The country did just that with South Korean conglomerate STX Corporation on their plan to build 200,000 housing units worth some $10bn, but after negotiations failed in January, President John Atta Mills announced that the project had fallen through and that he was looking for “alternatives”. The government also recently decided to repossess all assets advanced to STX, including 15 land sites across the country.

Of course, in spite of the renewed push on affordable housing, the rising level of per capita GDP and the growing number of white collar expatriates still draws a number of developers to the higher end of the market, and gated communities are proliferating in the wealthier neighbourhoods of the capital, Accra.

“Initially, middle and high-end homes were patronised largely by non-resident Ghanaians and foreigners, but gradually the middle class in Ghana is growing and local Ghanaians are patronising such homes,” Samuel Ewool, the executive director of Buena Vista Homes, a Ghanaian builder-developer, told OBG. “There has also been a remarkable increase in the number of foreigners from the West African region buying property here as investment because of the political stability in Ghana.”

Kofi Ampong, the CEO of real estate firm Broll Ghana, agreed. “On the residential side of the market, there has been a huge growth in terms of short-term lease of apartments for expatriates,” he said. “Since there are so many companies that are setting up base in Ghana to serve West Africa, there is a lot of demand for housing for people that come and stay for a couple of months.”

However, the sector is still constrained by some fundamental complications that limit the capacity for more robust expansion. One of the most significant drags on residential real estate growth has been the difficulty of obtaining a mortgage. High interest rates – over 20% in many cases – and relatively low disposable incomes make housing purchases difficult even for many middle-income families. Many resort to a traditional model of home building, whereby construction of a home is done in stages as cash becomes available.

Nonetheless, Ampong notes a growing willingness among banks and other lenders to provide home loans, whether through traditional mortgage structures or other forms of periodical payment. This, in turn, drives demand for middle-income housing, which developers are increasingly able to meet.

In fact, the secondary and rental markets have helped further spur increased ownership. Rents for the better properties in Accra have soared in recent years, incentivising home ownership over tenancy, as well as making property an attractive investment for those able to build up a portfolio. These dynamics are also driving an expansion of real estate development outside the city; any trip from the capital into the surrounding area will go past a number of proposed projects. While areas served by existing infrastructure, such as roads and electricity, command high prices, those areas where full-scale development has not yet reached are still relatively affordable.

From a standing start in the early 1990s, Ghana’s real estate industry has grown steadily. The impetus of strong economic growth, unmet demand and the country’s emergence into the global investment spotlight, have led to the momentum that is currently building in the sector. Those projects that are well targeted and reasonably priced can capitalise on one of the region’s most stable and interesting markets.

Source: Oxford Business Group

Alert: Ghana Building Regulations You Should Know

You are perhaps aware of the Melcom department store that collapsed in Accra, Ghana. It was reported that nine people died in the collapse. Approximately seventy people were rescued from the debris and rescue workers (as of the writing of this article) continue to search for survivors. Experts have yet to determine the cause of the department store collapse.

What is it that causes buildings in Ghana to collapse? Why has there been a rampant rash of building and project demolitions in Ghana in recent months? What building regulations have been adopted in Ghana to prevent future demolitions and collapses? The answers to these questions can be found in the following list. However, if a you truly wish to understand building regulations in Ghana, you should work with certified architects and engineers in Ghana who understand the system and can design a house plan that qualifies for a permit and meets all requirements.

Building Regulations in Ghana

The goal of building regulators in Ghana is to establish a common set of baseline requirements for all structures erected in Ghana, enforce the regulations, and educate building contractors on building the safest buildings possible. The building regulators of Ghana focus on the following:

• A builder must first apply for the proper development permits with the regulating body.
• A builder must then acquire and report on a suitable plot for development that meets the requirements of the regulations.
• Excavation of the plot must be done with accommodation for water tables, sub-soil drainage, and the surrounding environment.
• The building’s design must be reviewed to ensure structural stability.
• The builder must include structural fire precautions in the design.
• Proper accommodations must be made for accessing the structure.
• The regulations enforce correct ventilation and air flow design and set up including the proper expulsion of gasses produced by heat producing appliances.
• Other regulations deal with the proper intake, usage, and disposal of water.

These are only a few of the building regulation highlights in Ghana. For a more in depth understanding of Ghana building regulations, it is recommended that you work with certified Ghanaian engineers and architects who understand building regulations and can help you build a structure that meets all of the building regulations and requirements.

Contact The Ghana Homes Group today for a FREE building planning consultation.

The Most Common Building Materials for Building Homes in Ghana

Homes that are built in Ghana are constructed with certain materials that are divided into two different categories: conventional and unconventional. In the formal construction sector, more conventional materials will be used, such as concrete, slate and asbestos. Unconventional materials may consist of substances such as mud, mud bricks, palm leaves, bamboo and wood and may be used in areas that are more rural. Unconventional materials are used primarily because more conventional materials are either too expensive or are not easy to come by in certain areas.

In the bigger cities of Ghana and the areas that are more modernized and have larger populations, building materials are much more accessible. Materials used on these homes are similar to those used in places such as Arizona and Florida for construction of homes and buildings.

Here are the most Common building materials in Ghana for Conventional Construction

• Walls
• Bricks
• Masonry Blocks
• Concrete Blocks
• Gypsum Boards (plasterboard or drywall)
• Wood
• Floor
• Concrete Slab
• Roof
• Concrete Tiles
• Brick Tiles
• Shingles
• Long Span Aluminum Roofing Sheets
• Onduline Roofing Sheets
• Windows
• Aluminum Framed Glass Windows
• Aluminum-Clad Wood Framed Glass Windows
• Wood Framed Glass Windows
• Wood Paneled Windows
• UPVC Framed Glass Windows
• Wood Jalousie
• Doors
• Wood Paneled
• Aluminum Framed Glass Doors
• UPVC Framed Glass Doors
• Steel Doors
• Floor Finish
• Porcelain Tiles
• Ceramic Tiles
• Marble Tiles, Linoleum
• Terrazzo
• Cement/Sand Screed
• Carpet
• Ceiling
• Wood T&G
• Plastic T&G
• Acoustic Ceiling Tiles
• Plasterboard Ceilings

Outside Walls

When building the outside of a home, there is little distinction between conventional and unconventional. Most construction involves the use of bricks and earth as a traditional building tool. Cement blocks and concrete are also used in areas where they are available for the outside of a home. Although wood is exported from Ghana, it is not used as widely or as popularly as the previously listed materials.

Roofing Materials

Conventional materials used in Ghana for roofing include corrugated metal sheets and slate or asbestos roofing. Unconventional materials that are used in more rural areas include thatch or palm leaves or raffia. These materials are the second most common used in the roofing of homes in Ghana, second only to metal sheets.

Floor Materials

The most common materials used for construction in Ghana in the form of floors are cement or concrete. While earth or mud brick flooring is still often used, it is quickly being replaced by the convenience, stability and durability of cement flooring in the areas where it is available. In situations where cost is not an issue, homebuilders may also use terrazzo, vinyl tiles and ceramic tiles.
The materials used for construction on a home in Ghana are often chosen based on the location of the home being built and cost.

5 Simple Steps To Getting A Mortgage In Ghana

1 - Determine What Kind of Mortgage You Need

As a prospective borrower in Ghana, you have a few options that you must consider to decide which type of loan is the best for you and your situation. The primary loan options you have are:

• First-time home buyer loan
• Investment loan for property renting
• Existing home-owner loan, using your home as collateral

2 - Process Overview - Taking Your First Steps

The first step to accessing a mortgage in Ghana is to submit a completed application form. Depending on the bank you can do this on-line, or download, print, then scan and e-mail a completed form. Alternately, you may prefer to submit an application in person in a bank office. You will also need to decide whether you want to file an application by yourself, or jointly with two or more people with the proper relationships.

3 - Required Documents

When applying for a mortgage in Ghana, most organizations require the following documentation from each person applying during the lending process:

• Two proof-of-address forms
• Proof of income
• Two forms of personal identification
• Recent banking statements
• Credit reports
• Offer letter
• Letter of intent
• Facility letter
• Professional appraisal
• -Final mortgage agreement, signed and witnessed (may be done through Power of Attorney)

4 - Mortgage Terms and Conditions

Before signing anything, be sure that you have read through the entire mortgage agreement and are familiar with all the outlined terms and conditions. Items of particular importance may include:

• The loan amount
• Required down payment amount
• The loan term (this is typically about 15 -20 years for a mortgage in Ghana)
• The installment amountThe repayment schedule
• The payment dates
• What constitutes a shortfall
• Insurance requirements
• What constitutes a default
• Transaction fees

You can expect to pay about 20% to 25% down payment for most home loans in Ghana.

5 - Finding a Good Bank and Interest Rate

Lending rates in Ghana are extremely high at the moment, even when doing business with the best banking institutions. Current rates are ranging, on average, from about 13.5%-30% depending your credit history. In a recent study, the top rated and recommended baking institutions - to get the most for your money - were the following, in order:

1. Ecobank Ghana
2. SG-SSB
3. CAL Bank
4. HFC Bank Ghana
5. Ecobank Transnational

Adhering to this information should greatly ease the burden of obtaining a good mortgage in Ghana.

7 Little-Known Factors That Could Affect Your Home Construction Project in Ghana

If you are considering a home construction project in Ghana, you are probably very excited about the design of the building and are anticipating the time when you will be able to move in. However, it is important to realize that there are a number of factors that can cause problems with your project. Following you will find 7 factors that could impact your home construction project in Ghana.

1. Wrong permits - if you get the wrong permits for your project, you could wind up paying extra fees or even being required to stop construction. It is very important that you do your due diligence and verify that you have all the right permits.
2. Land ownership - clear title to the land where you will be building is not always as easy to come by as it seems. It is important to be aware of scams that sell land in Ghana and utilize the services of a lawyer experienced in these matters to verify your land ownership before you begin the project.
3. Land legal issues - there may be other legal issues that affect your land, and having your lawyer go over everything with a fine-tooth comb is the best way to avoid these types of problems.
4. Constant material cost increases - when you plan a project, you must be aware that material costs may increase over the course of the building project.  If you are aware of this, you can build this into your plans for construction.
5. Labor cost - this cost will vary depending on the crews you use, but don't sacrifice quality of the work for cheap labor.
6. Time overruns - Such things as weather damage, utility issues, and so forth can impact the length of time it takes to complete a construction, and this can increase the cost.
7. Cash flow problems - it is important to work with a contractor that has adequate planning for cash flow so that you don't run into problems.

As you can see, these are some of the things that can negatively impact your construction project, but with careful planning, many of them can also be avoided.

What's your construction story? Share below.

7 Ways to Protect Your Investment from Cheap Ghanaian Building Contractors

The possibility of owning a newly constructed home is a dream that can be realized for more and more individuals today. It’s an investment that shouldn’t be taken lightly, though. Hiring a licensed professional contractor might cost a little more up front, but in the long run it can mean the difference between a home that is functional, lovely and lasting versus one that is poorly planned and shoddily built. Listed below are seven ways you can protect your investment from cheap Ghanaian contractors who might otherwise gamble with your investment and your money.

1. Get recommendations

Colleagues, friends, and family members can offer up honest opinions when it comes to finding a contractor.  They can be one of your best resources in finding someone who might offer quality services at competitive prices. Friends and family members have nothing to lose or to gain by discouraging or recommending a contractor. 

2 - Interview first

When investing in something as important and personal as one’s own dream home it’s important to find the right people to do the job. One way to determine if a construction company will suit you is to interview them. Don’t hold back when it comes time to ask questions. 

3 - Get more than one bid

Oftentimes a construction company will offer free bids, and it’s pretty standard for buyers to obtain three. It would be incorrect to assume the lowest bid is the most cost effective, and the highest bid is definitely out of consideration. They are all worth considering.

4 - Have a written contract in place

Before beginning a project it’s important to have a written contract in place so each party knows what’s expected beforehand.

5 - Look at past projects

To get a good idea of how skilled the contractor’s craftsmanship is: peruse past projects.

6 - Inspect the materials

When it comes to quality, not all materials are the same. It’s important for you and the contractor you hire to select those that would be durable as well as affordable.

7 - The crew

Ask questions about the workers who might be involved in the building process. Determine what their credentials are and how they might impact the quality of your home.

While it may take time to interview and obtain bids before hiring a quality Ghanaian contractor, it can save a lot of money and heartache in the long run.

Trust the Ghana Homes Group to equip you with your dream home House Plan. Begin by browsing their House Plans here.

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7 Basic Steps to Successful Buying Land in Ghana

Whether this is your first time making a land purchase, or if you own properties in different locations throughout the world, buying land in Ghana can be a very attractive option and challenging. While Ghana does not maintain any restrictions against foreigners purchasing land, there are several principals that need to be understood so that you can successfully buy land in Ghana. As a brief overview, these include:

1. Verify land ownership
2. Check with the Land Commission to find out who truly owns the land
3. Check seller’s reputation
4. Find out whether the land is a leasehold or freehold
5. Ask for a transfer of ownership process
6. Check the cost to transfer and register the land at the court
7. Verify lawyer fees if any

In order to help you understand the process a little better, there are also certain concepts that you need to understand.

Land Ownership

The constitution of Ghana was approved in April of 1992. According to this constitution, all public land was vested in the President on behalf of the people. Prior to this time, Customary Land had been granted to individuals and families. Customary Land is now considered to be private land. If you want to purchase private land, it is necessary to talk to the individual who owns it; otherwise, all land is purchased from the government.

Ghana Land Freehold vs Leasehold

There are distinct differences between leasehold and freehold land. When someone owns freehold land, they have exclusive rights to the land as well as the building or home on that land. Contrastingly, purchasing a leasehold property means that you purchase the rights to the building or home on a given property for a certain amount of time – several decades, usually – but the actual land does not belong to you.
These are a few of the most important things to understand when you are in the process of purchasing property in Ghana. By following these seven steps, you will find that the purchasing process goes much more smoothly.

What's your Ghana land buying experience? Leave a comment below.

How to Choose a Ghanaian Architect for Your Building Project in Ghana

The Value of a Professional Architect

An architect with the appropriate credentials in licensing and education will be an invaluable addition to every building project. The architect is able to provide you with a house plan which accommodates your desires while in accordance with the local building regulations. When building in Ghana, it will be a good idea to hire a Ghanaian architect.

Because of the growing movement towards urbanization in Ghana, there is a lot of opportunity for a new generation of talented architects to create house plans that reflect the heritage and cultural identity of Africa, according to the Ghana Institute of Architects.  The incoming generation of architects in Ghana has much to offer those individuals who are interested in building in Africa.

Questions To Ask The Potential Ghanaian Architects

• What type of experience does the architect have? You want the reassurance that comes from knowing that the architect has designed the type of building that you have in mind.
• How involved will the architect be throughout your project? Some architects will provide their continued assistance throughout each stage of the building, including help with documents, bids and working with the contractor.
• Ask to see examples of some designs that the architect has created and if you can see any completed projects.
• Which services are covered in the architects’ fees? Sometimes the architect will work with other professionals and those consultations may be billed separately.
• Always ask about the architects’ licensing and insurance coverage. The architect should have professional liability insurance. It won’t be out of line to ask to see the paperwork.

An Established Firm in the Area

By choosing an established Ghanaian architectural firm who understands the building climate in Ghana, you can enjoy a new home that reflects the heritage of the African nation. Ghana Homes Group has the experience to provide this perspective. They are globally experienced and are the best architectural firm to create  the dream homes desired by Ghanaians and non-Ghanaians, both locally and within the diaspora.

How To Take Charge Of Your Construction Project In Ghana

Since scams are common if you live outside while a project is being completed in Ghana, there are ways to take charge of the project and avoid some of these potential problems. You must first be present in the process. This does not mean physically per say, but at least being on the phone and in contact with the people working on the project on a regular basis.

Checking In

If you can make at least one or more trips to Ghana, it would be in your best interest to do so. This can save you a lot of money and disappointment in the future. By checking in on things, you are ensuring that the right people are working on your project and completing it as expected. You can be there in person to have questions answered. This is the best way to avoid a scam happening at your expense.

Knowledge

You should go into the project with all the knowledge you can. This means knowing what kind of house plan, building material to use, cost, labor, scams that can happen to you, etc.  Scams can include lying about the cost of materials, completion of the project or asking for more money than what was expected. If you are naive in thinking a scam cannot happen to you, then you are setting yourself up to get taken advantage of. With the right preparation, you can take charge of the project and see it through.

Your Role

It is important to play an active role in the project. You should be involved and take charge with decisions. The people involved should know that you mean business and that taking advantage of you is not an option. If you look to be easy prey, then you run the risk of being scammed. Do not stand by waiting for the project to be completed. Make phone calls, visit the area and keep in regular contact with everyone that is part of the project.  This could really pay off both short-term and long-term.

Leave a comment below. What’s your construction project story?

Building a House in Ghana Using a Family Member? 5 Lies Relatives Like to Tell

Over the years, we have received emails and phone calls about how relatives have wasted money sent to Ghana specifically for building a dream home. Most of these writers and callers’ funds were misused or the home that was built did not make sense—poorly built, substandard or not completed as they were told.

It may seem like a good idea to use a relative to handle arrangements when you want to build a house in Ghana. However, it is important to remember that scams from within Ghana are increasing and the criminals are becoming very intelligent about avoiding detection until it is too late. If you have recently entered into an arrangement with a relative, a friend or are considering doing so, watch out for these five common ways that you can become the victim in a scam.

1. “Everything looks good!”

One popular building scam in Ghana is to consistently reassure the absent homeowner that everything is going ahead as planned. However, the photos of construction progress are actually from someone else project that doesn’t have anything to do with your home. One scammer who used this tactics to rip-off his relative overseas recently hanged himself due a pending court case and the likelihood that he was going to do hard times in prison.

2. Lies, Lies, Lies

Another scam that is hard to recognize until it’s too late involves the quick spending of your money for the relative’s personal needs and he or she hoping to pay it back as soon as possible. Along the way, the scammer continues to feed you believable lies until it is simply too late to regain your money.

3. “Send more money!”

International awareness of the rise of crime in Ghana is ironically working in favor of some scammers. Your relatives tell you that they are being faced with litigation claims and need more money in order to go to court or hire guards to protect the property and construction supplies.

4. “Building supplies are expensive here.”

This scam involves inflating the prices when talking to you while pocketing the rest. This scam can be difficult to recognize; you may never be able to recoup your lost money.

5. Substandard Supplies and Lack of Documents

The relatives handling your project may choose substandard materials in order to pocket some money or they may fail to obtain the necessary documents required for construction. According to the U.S. Bureau of Consular Affairs, you can be held accountable by the Ghanaian authorities, even if you were completely unaware that laws had been broken and the authorities could demolish your building.

Protect Your Investment

You must take steps to protect your investment. Instead of relying on relatives, enlist the assistance of a professional, such as Ghana Homes Group, to handle the details of your international construction.

 

How to Get a Loan to Build or Buy Your Dream Home in Ghana

Making a Real Estate Investment in Ghana

Ghana is one of the most beautiful countries on the African continent and as a result, many people are eager to call it home.  As a result, people are choosing to built or buy a new home there.  Purchasing and developing real estate is one of the best financial moves you can make; land is one of the most secure investments of all and is virtually guaranteed to yield long-term returns.  Buying or building the home you want to live in will require a significant amount of initial capital and most people don’t have that money immediately available; you will probably find it necessary to take out a loan.  If you are curious about a Ghana Homes Loan, financial and real estate experts have some advice just for you.

Finding Reputable Loan Officers in Ghana

You need to be certain that the bank you get a loan from will honor the contract you sign with them and will provide you with the money they’ve promised.  Contract fraud is unfortunately one of the most common scams in Ghana and people from other countries are often targets.  Foreigners are specifically targeted for contract and loan fraud because they are perceived as being unlikely to be familiar with the country and its legal and banking system.  If you are already a member of an established bank in your country of origin, ask if they have any branches in operation in Ghana or have any partner institutions that offer home loans.  You might discover that your preferred bank call tell you everything you need to successfully qualify for a Ghana Homes Loan.

Local Organizations in Ghana

If your preferred bank doesn’t have any branch offices in Ghana, consider contacting the Ghana Homes Group Developers.  Ghana Homes is an organization made up of real estate developers and similar professionals.  They have partnered with builders and sellers to create a network of trustworthy businesses. You can contact them to ask questions about the laws and regulations related to applying for a Ghana Homes Loan. 
Buying or building a home for yourself in Ghana is an opportunity that shouldn’t be passed up, but don’t be afraid to make sure it’s done right.  Ask people you trust for recommendations; do plenty of research to make sure that you are choosing a reputable lender.

 

The Zen of Building Your House in Ghana with Limited Money

The Ghana Real Estate Market

The country of Ghana currently has one of the most attractive international real estate markets.  It has grown rapidly over the past several years, and it will only continue to grow.  According to global research leaders, the world will have approximately three billion new people looking for housing by the year 2030.  This means that by that year, there will be a demand for nearly 100,000 new housing units almost every day.  For countries like Ghana, where the population growth is much higher than other places in the world, this statistic is especially meaningful.

The current expanding real estate market in Ghana allows you to build large homes and commercial properties for less money than you would pay elsewhere, and experts believe that the value of such investments will only increase with time.  Building your dream home with limited money has never been easier with the Ghana real estate market. 

Getting Started

There are many ways to go about building a home in Ghana, but one of the easiest and most efficient ways to get the job done is to work with the Ghana Homes Group.  This unique organization can provide you with everything you need to build your dream home in Ghana.  They have real estate agents to help you find land available for purchase, land lawyers to help you obtain the right building permits, and endless resources to help you find the right builders and contractors to complete your home the way you want it. 

Their experienced employees know their way around Ghana’s real estate market, and they are very willing to use their expertise to help you achieve your building goals in a fast and satisfactory manner.  If you are interesting in purchasing real estate and building a home in Ghana with limited money, let the Ghana Homes Group give you the peace of mind you are looking for. 

Warning: The City Authorities in Ghana Can Put a Stop to Your Construction Project

The Growth of Ghana’s Real Estate Industry

The real estate industry in Ghana is growing at a very rapid rate.  It has been increasing very quickly in recent years, and it will only continue to grow.  According to global research, there will be a demand for nearly 100,000 new housing units around the world each day by the year 2030.  This information is especially applicable in countries like Ghana, where the population is growing much faster than it is in other places in the world.  This increased growth in the country’s real estate industry has encouraged many investors and homeowners to purchase property in Ghana.  Buying real estate or building a home in Ghana can be a great opportunity, but there are several things you should know before you jump into a construction project. 

Completing the Paperwork

When you initially purchase land in Ghana, there are several steps you need to take in order to ensure that your investment is protected.  Going through the right legal steps to obtain your land is an important part of the development process.  The first thing you need to do is determine what type of land you want to buy and where it is located.  The Ghana Homes Group can help you find land that is available for legal purchase and can be owned privately.  They can help you perform a title search to make sure the land is not publicly owned, and they can also assist you in filling out applications for the right government agencies. 

Getting a Real Estate Lawyer in Ghana

Another tip is to make sure you use the services of a real estate lawyer when you are purchasing real estate in Ghana.  There have been many reported cases of a single piece of land being sold to several different buyers by scam artists.  This type of scam usually results in a loss of time and money, so it is important to avoid such problems.  The best way to do this is to hire a reputable land lawyer, such as the ones offered by the Ghana Homes Group.  If you want to make sure your construction projects won’t be halted by the city authorities in Ghana, the land lawyers at the Ghana Homes Group can help.

The Shocking Truth About Housing Demand in Ghana

Ghana’s Rapid Real Estate Growth

Ghana is a country where the real estate industry is growing more and more each day at a very rapid rate. The country’s residential market has enjoyed the greatest demand of any property segment. A rapidly growing middle-class and urbanization pressures, especially within the Accra-Tema metropolis, have generated enormous housing demand.

Lately, study has also revealed that there has been an ever-increasing presence of new buyers of real estate in Ghana due to Ghana’s new and emerging favorable international image and the growing oil industry. The demand for luxury homes is also affected by the influx of investors. This is evidenced by reports from real estate companies in Ghana having purchases of their luxury homes over subscribed even before construction is completed. Statistics from Bank of Ghana also show phenomenal increases in foreign direct investments (FDI) and foreign monetary transfers into the Ghanaian economy over the past 10 years.

Global demand for housing

The global demand for housing has increased exponentially over the past few years, and researchers claim that it will only continue to grow as time goes on.  According to a leading research, approximately three billion more people will require housing around the world by the year 2030.  This means that by that year, there will be a demand for nearly 100,000 new housing units each day.  These numbers are especially relevant in rapidly growing countries such as Ghana, where the population is increasing at one of the fastest rates in the world. 

What This Means for You

The rapidly growing real estate industry in Ghana provides excellent opportunities for investors and homeowners interested in purchasing real estate.  The current economic situation in Ghana allows you to purchase larger homes for less money than you would pay in other places, and it also allows for potentially large gains when you invest in Ghana real estate due to the expected increase in the country’s housing demand.  There has never been a better opportunity for buying real estate in Ghana. 

How Ghana Homes Group Can Help

If you are interested in buying real estate in Ghana, the Ghana Homes Group is an excellent resource available to help you.  If you are looking to purchase land or invest in housing, they can assist you in the legal processes of buying a property.  Also, if you are interested in building your dream home in Ghana, the Ghana Homes Group can help you obtain house plan, the permits, contractors, and other resources you will need to get the job done in a satisfactory manner.  When searching for real estate in Ghana, let the Ghana Homes Group make the process a little easier. 

Can You Really Trust Builders & Contractors in Ghana?

The Ghana Real Estate Market

For the past several years, the real estate market in Ghana has been developing at an exponential rate. It has grown enormously, and its projected to continue to grow in both the near and distant futures.  Leading global research states that by the year 2030, approximately three billion new people will be in the market for housing. This means that nearly 100,000 new housing units will be in demand every day that year.  For countries like Ghana, where the population is growing very quickly, this statistic is especially significant.  Because of the economic growth in Ghana, the real estate market there is very attractive to investors and homeowners alike.  However, if you are interested in building a home or commercial property in Ghana, there are a few things you should know before you begin. 

Finding a Trustworthy Builder or Contractor in Ghana

There are many reliable and trustworthy builders and contractors in Ghana.  However, there are also a few scam artists looking to take advantage of the fast-paced and rapidly-growing real estate industry.  If you are too eager to get a construction job done quickly and you don’t do your research and due diligence, it is easy to be taken advantage of by an unreliable or dishonest contractor.  One way to find a good contractor for your construction job in Ghana is to rely on the expertise of the Ghana Homes Group.  They have a lot of experiences with builders and contractors in Ghana, so they can help you find one with a great track record and high-quality service. 

Hiring Legal Professionals 

It is also important to make sure the work your contractors are doing meets the rules and regulations set forth by the city authorities.  To help you sort out what is or is not in line with city policies, the Ghana Homes Group offers real estate lawyers and other legal professionals to deal with the contractors you’ve hired.  With the Ghana Homes Group, you can rest assured that the construction job will be done in a professional and legal manner.

How to Get a Building Permit in Ghana in Record Time

Building a Home in Ghana

The country of Ghana has experienced rapid growth in recent years.  The real estate industry is booming, and leading global research states that it will continue to grow exponentially in the future. This expanding market is very attractive to those looking to buy a home in Ghana, investors and homeowners, many of whom are choosing to buy land in Ghana and build large homes or commercial properties. However, to build legally in Ghana, there are several steps you need to take to get the right permits, else your construction project could be stopped and demolished by the city authorities causing you a great deal of financial lost. 

Demolishing of Houses Ghana

For example, in recent times, major city authorities in Ghana have put a stop to several building construction projects and even went further to demolish several hundreds of building due to improper permits. According to the Ghana MyJoyOnline, “about 100 more houses were demolished late last year bringing the number to 600 by a combined police and military team. The exercise, which began on Saturday, December 10, has so far rendered about 2,000 residents including a five-day-old born twins homeless.  The Ga Municipal Assembly has planted a military/police platoon to deal with whoever will attempt to resist the exercise.

Applying for a Permit from the Land Commission

The first step you need to take to get a building permit in Ghana is to submit an application to the Land Commission.  Before you can get a permit, this government agency has to confirm that the land legally belongs to you.  If you are not sure how to go about proving that you own the land you are planning to build on, the Ghana Homes Group can help.  They have land lawyers who are specifically trained to deal with land laws and government agencies. 

Obtaining a Permit from the Town and Country Planning Department

After the Land Commission has confirmed that you do indeed own the land you want to build on, you can begin the building permit process with the Town and Country Planning Department (TCPD).  The TCPD will assemble a committee of inspectors to observe the land and analyze your building plans or House Plans.  If they approve of your plans, they will submit a recommendation to the Statutory Planning Committee, which is the government agency that will actually administer the building permit once the documentation has been reviewed.  If you need help with any of these steps, the Ghana Homes Group has experienced employees who can help you navigate the legal system.  Obtaining a building permit in Ghana can be a complicated process, but the Ghana Homes Group can make your experience a little easier.

How Safe Is Your Land in Ghana from Resellers, Encroachers & Powerful Chiefs?

Ghana: Rapidly Growing Real Estate Market

Ghana is a place where real estate and development have been growing rapidly in recent years.  While there aren't any restrictions on whether foreigners can by land in Ghana, there are four different types of land, and some types cannot be owned privately. It is very important for an interested land buyer to go through the right sources to make sure that his or her investment will be secure and protected when considering land for sale in Ghana.

Perform Title Search

It can be challenging to understand the law that governs the purchase of land and how it works. Applications must be filed with the proper Governmental agency depending on where the land is located. Governmental agencies can help to evaluate the land you are considering, and find out who truly owns the property, as well as determining whether you can purchase the property.  A title search must be conducted to determine the actual type of land you are considering and to determine the ownership of that land.  Using a reputable land attorney in Ghana is an important step that should be taken if you want to buy land.  The Ghana Homes Group Land Lawyers are an experienced and trustworthy source that can help you properly acquire land for sale in Ghana.

Don’t be Scammed

There have been many circumstances where the same spot of land has been sold to several different purchasers by resellers or scam artists, thus causing court disputes and a loss of money and time.  Unauthorized owners will advertise land for sale in Ghana, collecting the money for the purchase without having the ability to turn the land over to you, and you end up losing your investment if the court proves that someone else actually owns the land.  Problems with a land scam artist in Ghana have cost many people a great deal of money.

5 Steps to Protect Your Ghana Land Investment

1. If you already have land, make sure it’s registered at the Ghana Land Commission
2. If purchasing a new land, go to the Land Commission and perform a title search first
3. Make sure you are working with a reputable attorney who knows Ghana land acquisition laws
4. After purchase, register your land at the court to make sure you are legally covered
5. Fence your land or build a small room on it to warn off squatters

Your land in Ghana can be safe from these resellers and scam artists if you use a reputable real estate agent and lawyer when you want to purchase land for sale in Ghana.  Ghana Homes Group Land Lawyers help those who wish to build a house or buy land in Ghana go through the necessary steps to protect their investment.