Tuesday, October 18, 2016

Airport Residential Area in Accra - Ghana

The airport residential area has seen a major facelift and has metamorphosed into an amazing display of beautifully crafted architectural masterpieces. Driving from the Tetteh Quarshie roundabout towards Accra Central, there is the upsurge or rise in the number of tall buildings, which previously were non-existent. You cannot but heave a sigh in amazement at the sight of these skyscrapers, which have changed the view of the airport area.

This probably follows the plans previous and current governments laid out to modernize the capital city in their bid to attract foreign investors. Therefore, lands around the airport especially are being leased by the government to investors for major real estate developments. The Ghana Airport Company Limited’s vision of positioning Ghana as the preferred aviation gateway and leader in airport business in West Africa and the mission of providing a world-class airport and services for the benefit of stakeholders has sparked the desire to bring the area up to international standards.
  Airport City, Accra GhanaThe airport area and its vicinity are being expanded for commercial activities. As a result, one cannot ignore the creation of the Airport City which harbours major hotels, malls, office and retail space and residential apartments and other developing residential areas like the Airport Hills. Individual house owners are also leasing, selling or renovating their homes for rent or turning them into guesthouses. This is in preparation to meet the demand for housing by the influx of foreign investors who are taking advantage of the investment opportunities in Ghana. Gradually, this area is becoming a commercial district attracting people from all over the world on a daily basis. It is therefore not surprising that most of the buildings in the Airport city are investments of either foreign companies or individual foreign investors and some local companies.

The presence of expatriates, coupled with the fast development of the airport area, has increased its value making it prestigious for housing and business activities. Additionally, these expatriates and local businessmen prefer to rent or buy a property closer to the airport due to proximity, convenience, security and comfort. This has increased demand causing the price of buildings and lands to rise. Depending on the type and size of space, rent around this area can cost you between 2000 and 6000 USD while buying will cost you between 600,000 and 2 million USD.
  Airport City, Accra - Ghana.The future of real estate in Ghana is bright. Because of Ghana’s location, political stability, ease of doing business, increasing population, growing oil industry, energy and service sectors, many developers anticipate a booming economy in the coming years. This has affected the rate at which foreign investors are building in wait for the future demand for housing, office and retail space. Also, it is expected that the emerging middle class and upper class will continue to rise and there is a need to expand the housing sector.

The development of the airport residential area is no coincidence, but intentional. As one developer put it, the time is now to sow in real estate development and reap multiples during the bumper harvest. As a result, investing in real estate in Ghana now means securing a place or positioning yourself to be part of the future success of the real estate business.

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Wednesday, October 12, 2016

Should You Pay a "Digging Fee" in Ghana Before Starting Construction?

A digging fee is an amount of money demanded by youth groups in a particular area to allow a prospective builder develop a land he or she has legitimately or legally acquired. Paying a digging fee is a means used by some people to enrich themselves. The people who demand a digging fee are usually unemployed, uneducated and idle youth groups, land guards or individuals who may or may not be connected to the chiefs or traditional authorities of a particular area.

Those who demand digging fees assert that they are the protectors or custodians of the land and their keen eyes on and interest in the land has ensured its safety and prevented encroachment. As a result, they deserve some payment for their uncalled-for service. The amount of money demanded from land developers depends on the location of the land. People can pay as high as 2000 Ghana cedis and as low as 50 Ghana cedis. The demand for a digging fee is popular only in the Greater Accra region in Ghana and the practice has become a convention among the indigenes in certain parts of Accra and its environs.
  Home Construction Loan in Ghana

The refusal to pay a digging fee puts the life of either the landowner or the construction workers in great danger and can lead to continual harassment, theft and vandalism. A lot of people have confessed that, though they are aware that paying a digging fee is illegal, they go ahead to pay this digging fee to get these people off their backs and their property. These people can be a nuisance and brutal in their attacks. However, it is important to note that the demand for a digging fee and activities of these people are not extended to highly developed areas, real estate company developers and educated and legally conscious people. They fear they will run into trouble with such individuals.


So the question is should you pay a digging fee in Ghana before constructing your building? The answer is an outright NO. It is unofficial, illegal and limited to only to the Greater Accra area. All the other regions in Ghana do not demand the payment of a digging fee before starting to build.

 In order to avoid all these problems, you should buy your land from a certified real estate agent or company. That’s why we encourage you to visit our website at www.ghanahomesforsale.com/land-in-Ghana and check out the available lands on sale.

Should You Renovate Your Home in Ghana? Here Are A Few Reasons

Many people probably have had the idea of renovating their homes to suit their current lifestyle or boost their image. However, usually, such people have been discouraged with the excuses that renovation is expensive, stressful and tiring. If you have ever had the thought of renovating your house, here are reasons why you should go ahead to execute that thought.

 First, renovation adds or raises the value of your house. Renovation gives you the opportunity to change, expand, redesign and redecorate your home. It allows you to add new features to your building and convert spaces to satisfy your functional need. These additions and changes will enhance your property and increase its price. Therefore, you will make profit on your asset if you decide to sell, rent or lease it. This means that your building is likely to be at par with new buildings and therefore you can offer competitive prices on the housing market.
  renovating a home ghana

Renovation allows you to make future preparation for old age or retirement. If you plan to continue to live in your house for the rest of your life, then there is the need to consider renovating it. Remember that as you age, certain tasks become more difficult and challenging like climbing stairs or turning the doorknob. Thus, renovation helps you make changes according to the demands of your aging needs. Therefore, you must start planning on how you intend to have access to your home and make it more enjoyable and comfortable in your old age.

 Renovation also allows you to tighten security and ensure proper safety measures in your home. As your building gets older, certain parts or features get weaker and make you and your property vulnerable. Certain parts of the building may be damaged due to rot or mold and there may be hidden dangers from outdated cables and exposed wires as well as broken pipes. Also, it is possible that the security features in your home are outmoded and they may not be resistant to burglary or threat. Renovation helps you detect and rectify all these defects.

Furthermore, renovation allows you to save money. You probably may be spending more on utility bills and repairs. This may be because your electrical and plumbing systems are not modern and in good shape. As a result, you are likely to spend more on energy consumption and pipe leakages. Renovation allows you to replace all outdated cables and exposed wires. You will also be able to install energy-efficient bulbs.

By doing these, you get to save money over the long period of usage. The conclusion of the matter is that because everything becomes older and weaker with the passage of time, renovating your house is certainly not an option or a luxury but a must.


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