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.
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