I wanted to share an observation with you. Over the years I have had many conversations with acquaintances from various parts of Africa about investment back home. One commonality that I have noticed in these conversations is real estate, in the form of apartments or rental houses is almost always mentioned. I thought that the words below written by Rhiannon Williamson adds an interesting new dimension to this topic.
Ghana Real Estate The Buying Process: "...Ghana is a nation that offers an investor an unrivalled wealth of choice and potential, and a property investor considering this emerging market will likely be overwhelmed by the weight of opportunity for profit and gain.
But because the Ghanaian investment real estate sector is in its absolute infancy there are many critical factors that a property buyer must bear in mind before committing to purchase land or real estate; this is a guide to the property buying process in Ghana to assist foreign buyers.
First things first it’s important to note that there are currently no restrictions on non-Ghanaians owning land and property in Ghana and this situation is unlikely to change because the government of Ghana is committed to promoting maximum inward foreign direct investment and is working with a body called the
Ghana Real Estate Developers Association to restructure the entire property sector in the country..."
Besides the youthfulness of some of Africa's real estate investment sectors, I think that there are other factors that make it very attractive:
- Dollar to local currency conversion.
- The climate-it allows for slower building times-which in turn can allow investors to build projects over two or three years without going into debt.
- A serious scarcity of rental property in urban centers.
- Large numbers of foreign nationals demanding luxury-styled accommodations and willing to pay a premium.
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