Why Ghana?
Ghana is a politically and economically stable African country with a rapidly growing reputation as more attention turns to the
continent of Africa. Ghana is resourceful and an emerging world commodity market with scenic beauty, tropical weather, natural
foods, rich culture and the safest and friendliest country in Africa. The country currently welcomes approximately half a million
tourists, aid workers, and business travelers a year. People leave Ghana beloved with its incredibly hospitable and peace-loving
people who are kind to foreigners, respectful of one another, strong followers of tradition, and have deep familial and communal
values that offer much to the world. Ghana real estate and development has been rapidly growing over the past several years.
There are ghana property for sale to foreigners and expats and even more for Ghanaians seeking properties in Ghana. 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 .
About Accra Ghana
Accra is the capital of Ghana. The closest city to the metropolis is Tema.
Lately, study has also revealed that there has been an ever-increasing presence of new buyers of 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 interested in ghana real estate. 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
Ghana is a nation that offers an investor an unrivaled 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. The Ghana property investment is in
its absolute infancy, therefore many critical factors that a property buyer must bear in mind before committing to purchase land
or real estate evidenced by plot for sale and acres for sale everywhere. There are 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.It also worth noting that a foreign property investor who makes purchases in
Ghana can benefit from a series of government incentives including taxation breaks, and that currently upon the resale of
property and the release of profits no taxation is levied against capital gains and all profits can be transferred out of Ghana. The i
ncreased growth in the ghana real estate industry has encouraged many investors and homeowners to purchase ghana property.
Buying ghana real estate or building a home in Ghana can be a great opportunity, but there are several things you should know
before you jump into a construction project.
What you need to know before buying property in Ghana
There are four different types of land, such as plot for sale or acres for sale, and some types cannot be owned privately. It is very
important for an interested Ghana plot for sale buyer to go through the right sources to make sure that his or her investment will
be secure and protected when considering land for sale in Ghana.
Who owns the land?
There have been many instances of land being sold by unauthorized owners or being sold to more than one buyer. Have a valid
and legal documentation from the owners of the land Have a title Reviewed at the appropriate government office and a land
valuation reviewed as well Review all documents yourself and involve yourself in all steps of the property buying process We also
encourage you to have an independent lawyer review your documents and to visit Ghana and the land you’re considering purchasing.
Ghana real estate development requirements
You are purchasing undeveloped land in Ghana and there are development timeline requirements set forth by the government. It
is common that you are required to wall the property or build at least a basic infrastructure such as storage shed, building or
foundation within a three-year period. Developing the land also helps to ensure less questions of ownership, or unwanted
harvesting of trees or other assets of the property.
Land leasing
Most property or land sales in Ghana are made on a leased basis. No individual or company may own the land indefinitely. Sales
are made for various leasing terms from 25 to 150 years. Usually, leasing terms are shorter for non-Ghanaians but every leasing
term is negotiable. Our standard leasing terms for these plots are 99 years, at which time you may renew.
Find out who owns the land.
Ensure that the individual or organization you are making the purchase from is in fact the rightful property owner. There have
been many case where land has been sold fake owners, or where land in Ghana has been sold to more than one buyer. To protect
against this property fraud ensure that a comprehensive review of the land title is undertaken at the appropriate government
office and try to do a land valuation. The fee for these are usually paid out by the buyer but it is well worth the cost.
Review Documents Thoroughly
Make sure to review all documents yourself, and attempt to involve yourself in all steps of the real estate buying process.
You may also wish to have your own lawyer review the documents your documents before transferring any funds.
Comply with Ghana Real Estate Development Requirements
When purchasing bare land in Ghana there can be development timeline requirements which are put in place by the government.
You will likely need to build certain basic infrastructure including but not limited to a well and building or foundation within 2
years of purchasing the property. The added advantage of developing the land is also to stop any questions of rightful ownership,
or unwanted encroachment by others on your property. There are often cases where trees or other assets are being grown on
squatting properties. Requirements for property development should be determined at a government office prior to any purchase.
Decide whether to lease or buy
The majority real estate or land sales in any given year in Ghana is made on a lease. Individual and organization can still own the
land indefinitely but sales are made over a variety of leasing arrangements ranging from 25 to 150 years. As a matter of thumb
leasing terms will usually be shorter for expats and non-Ghanaians however all leasing term can be negotiated.Discuss leasing
options with your agent.
Use a reputable Ghanaian real estate company
The best thing to do for smooth sailing in the Ghanaian real estate market is to do business with an official well repute real estate
company or agent in Ghana.
Ghana property market is a direct reflection of the state of the West African nation itself in that it is emerging, developing, has
immense potential but is restricted by serious fundamental issues relating to issues such as poor land title registration
transparency and lack of affordable home financing solutions locally.
The best approach to take with Ghana is to line up all the negatives, knock them down with proof that the government and
additional external bodies and agencies are tackling these issues head on and then identify the amazing potential available in
Ghana for property investors from 2007 onwards‚in this way an investor can determine whether 2007 is the year for them to
begin their due diligence in Ghana for long term capital appreciating investment opportunities.
Building a home here is exceptionally expensive and very time consuming
And you really need to physically be there unless you have top of the line foreman or overseer
plot devoid of litigation is a very time consuming and taxing process
And can’t even imaging trying to build a house there from the ground up…what a headache?
Ghana has a complicated titling system
Plots for Sale in Ghana Due Diligence
Developing a purchased land as soon as possible also to ensure less questions of ownership
If you are purchasing undeveloped land in Ghana there are often development timeline requirements set forth by the government.
It is common that you are required to build at least basic infrastructure such as a well and building or foundation within a 2 year period.
Building a Home in Ghana
The country of Ghana has experienced rapid growth in recent years. The real estate industry is booming, and leading global
research states that it will continue to grow exponentially in the future. This expanding market is very attractive to those looking
to buy a home in Ghana, investors and homeowners, many of whom are choosing to buy land in Ghana and build large homes or
commercial properties. However, to build legally in Ghana, there are several steps you need to take to get the right permits, else
your construction project could be stopped and demolished by the city authorities causing you a great deal of financial lost.
For example, in recent times, major city authorities in Ghana have put a stop to several building construction projects and even
went further to demolish several hundreds of building due to improper permits.
Applying for a Permit from the Land Commission
The first step you need to take to get a building permit in Ghana is to submit an application to the Land Commission. Before you
can get a permit, this government agency has to confirm that the land legally belongs to you. If you are not sure how to go about
proving that you own the land you are planning to build on there are land lawyers who are specifically trained to deal with land
laws and government agencies.
Obtaining a Permit from the Town and Country Planning Department
After the Land Commission has confirmed that you do indeed own the land you want to build on, you can begin the building
permit process with the Town and Country Planning Department (TCPD). The TCPD will assemble a committee of inspectors to
observe the land and analyze your building plans or House Plans. If they approve of your plans, they will submit a
recommendation to the Statutory Planning Committee, which is the government agency that will actually administer the building
permit once the documentation has been reviewed. If you need help with any of these steps, the Ghana Homes Group has
experienced employees who can help you navigate the legal system. Obtaining a building permit in Ghana can be a complicated process.
Steps to Protect Your Ghana Land Investment
If you already have land, make sure it’s registered at the Ghana Land Commission
If purchasing a new land, go to the Land Commission and perform a title search first
Make sure you are working with a reputable attorney who knows Ghana land acquisition laws
After purchase, register your land at the court to make sure you are legally covered
Fence your land or build a small room on it to warn off squatters
Your land in Ghana can be safe from these resellers and scam artists if you use a reputable real estate agent and lawyer when you
want to purchase land for sale in Ghana.
Perform Title Search
It can be challenging to understand the law that governs the purchase of land and how it works. Applications must be filed with
the proper Governmental agency depending on where the land is located. Governmental agencies can help to evaluate the land
you are considering, and find out who truly owns the property, as well as determining whether you can purchase the property. A
title search must be conducted to determine the actual type of land you are considering and to determine the ownership of that
land. Using a reputable land attorney in Ghana is an important step that should be taken if you want to buy land.
Don’t be Scammed
There have been many circumstances where the same spot of land has been sold to several different purchasers by resellers or
scam artists, thus causing court disputes and a loss of money and time. Unauthorized owners will advertise land for sale in
Ghana, collecting the money for the purchase without having the ability to turn the land over to you, and you end up losing your
investment if the court proves that someone else actually owns the land. Problems with a land scam artist in Ghana have cost
many people a great deal of money. If you are interested in buying real estate in Ghana, there 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, they 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 we will
the make the process a little easier.
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