GENERAL OVERVIEW
There has been significant growth in Ghana’s real estate sector over the past five years. It is one of the fastest-growing sectors in Ghana. This sector comprises the office market, the retail market, the industrial market and the residential market.
OFFICE AND RETAIL
- Ghana’s office and retail market is run primarily by the private sector. However, demand for this sector is higher in the Greater Accra Region of Ghana.
RESIDENTIAL MARKET
- Both the private sector and the government are active players in Ghana’s residential real estate market. As of 2021, residential structures in Ghana stood at 5.86 million structures. Some of Ghana’s commercial banks operate mortgage products to purchase residential housing units.
- Ghana, however, has a significant housing deficit of 1.8 million, with 60% of Ghana’s urban population needing government assistance in accessing housing facilities.
INDUSTRIAL MARKET
- Ghana has industrial hubs mainly located in Accra, Tema, Kumasi and Takoradi. The Government has established Specialized Industrial Zones to increase Ghana’s real estate sector base.
REGULATORS
- Ministry of Works and Housing
- Architects Registration Council
- Engineering Council
KEY ORGANIZATIONS
- Ghana Real Estate Professionals Association
- Ghana Real Estate Developers Association
KEY ATTRACTION HIGHLIGHTS
- POLITICAL STABILITY
Ghana’s stable political environment makes it conducive for real estate-related activities.
- HOUSING DEFICIT
Ghana has a housing deficit of around 1.8 million in the real estate residential market. This is an indicator of significant opportunities for investment in affordable housing.
- FINANCING INCENTIVES
The Government of Ghana has recently established the National Housing and Mortgage Fund, which is set up to fund the demand and supply ends of the real estate market.
- INCENTIVES AND INFRASTRUCTURE
There are tax incentives for companies operating in the real estate sector. This includes the option by companies in the real estate sector to carry forward losses incurred in the first three years of operation.
TOP INVESTMENT OPPORTUNITIES IN REAL ESTATE IN GHANA
- LAND BANK OPPORTUNITIES
There are investment opportunities to purchase land in large tracts with the hope of a substantial increase in the future value of land for future returns.
- SINGLE-FAMILY HOMES
Ghana’s colossal housing deficit presents an opportunity for investment in the construction of single-family homes ranging from 2 to 3-bedroom houses for couples and salary earners.
- APARTMENTS
There are opportunities for investment in the construction of luxury apartments in Ghana’s major cities. There are also viable investment opportunities for the construction of smaller apartment buildings located on or near major tertiary educational institutions due to the lack of residential facilities on those campuses.
- COMMERCIAL REAL ESTATE
There are opportunities for investment in the commercial real estate sector. Due to the growth of the middle class, there is a demand for retail activity in major cities such as Accra, Kumasi and Takoradi.
- INDUSTRIAL REAL ESTATE
There are opportunities to construct warehouses and storage facilities for manufactured products.
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Founded in 2015, Acheampong & Associates is a Ghana-based law firm specializing in Immigration, Corporate, Family, Real Estate, and Surrogacy Law. For over half a decade, we have delivered client-focused legal solutions, with a strong niche in world-class immigration, corporate and family services for individuals and organizations. Our team has the expertise and resources to help clients navigate complex legal requirements with confidence and ease.
