If you are looking for property hotspots and a stable investment opportunity in Africa, you might want to consider Ghana’s real estate market. Ghana is one of the fastest-growing economies in the continent, with a stable political system, a growing middle class, and a high demand for quality housing. In this blog post, we will introduce you to some of the emerging property hotspots in Ghana, where you can find attractive returns and capital appreciation in 2023.
As a real estate agency, Ana Arkutu Consult has been closely monitoring the real estate market in Ghana and identifying emerging property hotspots that offer attractive investment opportunities. In this article, we will explore some of the emerging property hotspots in Ghana and highlight why they are worth investing in for the year 2023.
Property Hotspots; East Legon
East Legon is a suburb of Accra, located about 12 kilometers northeast of the city center. It is an affluent area known for its high-end residential properties and commercial developments. The area is home to many expatriates, diplomats, and affluent Ghanaians, making it an attractive investment destination for developers and investors looking to cater to the high-end market.
East Legon has seen significant development in recent years, with the construction of luxury apartments, townhouses, and commercial properties. The area also has a well-established road network, making it easily accessible from other parts of Accra. The increasing demand for high-end properties in East Legon makes it “hot cake”.
Property Hotspots; Labone
Labone is a lucrative investment opportunity for anyone looking for property in a prime location in Accra, Ghana. Labone is a residential and commercial area that offers easy access to amenities such as schools, hospitals, banks, restaurants and shopping malls. Labone is also close to the airport, the beach and the city center, making it an ideal place to live or work. Labone is definitely a must-try.
Property Hotspots; Oyarifa
Real estate in Oyarifa is a booming sector in Ghana, as more people are looking for affordable and comfortable housing options in the Greater Accra region. Oyarifa is a fast-growing suburb that offers a variety of properties for sale and rent, ranging from apartments and townhouses to detached and semi-detached houses. Oyarifa is also close to amenities such as schools, hospitals, malls and recreational facilities, making it an ideal location for families and professionals.
Property Hotspots; Central Region
The Central Region of Ghana is a lucrative investment opportunity for anyone looking for land or houses in Ghana. The region has a diverse range of properties, from beachfront land to roadside commercial plots, from executive estate houses to affordable bungalows. According to Ghana Property Centre, the average price of land for sale in the Central Region is GH₵170,000 per acre, while the average price of houses for sale in Kasoa, Awutu-Senya East, Central Region is GH₵400,000. The region also boasts of some historical and cultural attractions, such as the Cape Coast Castle and the Kakum National Park. Whether you are looking for a place to live, work or relax, real estate in the Central Region can offer you a variety of options to suit your needs and budget.
Cantonments An Emerging Property Hotspot
Buying houses in Cantonments can be a good investment option for some people, but it also involves some risks and challenges which are easy to navigate with a good real estate agent. Cantonments is an affluent suburb of Accra, the capital city of Ghana. It has a high demand for residential and commercial properties, as well as a good infrastructure and security. However, Cantonments also faces some issues such as traffic congestion, high cost of living, environmental pollution and land disputes. Therefore, before buying houses in Cantonments , one should do a thorough research on the market trends, legal aspects, financing options and personal preferences. Here are some factors to consider when buying houses in Cantonments:
In conclusion, Ghana’s real estate market is on the rise, and there are several emerging property hotspots that offer attractive investment opportunities. Tema, East Legon, Kasoa, Spintex, and Kumasi are just a few of the areas that are experiencing significant growth in the real estate sector, making them viable investment destinations for investors looking to diversify their portfolios. As a real estate consultancy firm, I advise investors to consider these emerging property hotspots when making investment decisions in the Ghanaian real estate market in 2023. These areas offer significant potential for growth and are poised to become the next big thing in the Ghanaian real estate market. Remember to check out some of the listings on our site and feel free to get in touch for expert advice.
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Ghana’s Emerging Property Hotspots: Where to Invest in 2023