Published on 01 November 2005 at 05:10 pm
Filed under: Africa:- Ghana Property Guides » Ghana Property Investment Potential
The one word that should spring to mind when contemplating Ghana for property investment is ‘potential’ because of all the emerging real estate markets in the world Ghana has one of the most exciting and as yet totally under-explored property sectors.
The investment opportunities that exist are even listed by the Ghana Investment Promotion Centre which is a government agency, and they include the development of residential property for local and overseas buyers together with the development of industrial and commercial property - the latter mainly focusing on the tourism sector in Ghana.
Ghana is a politically stable country and the democratically elected government are seeking to build on Ghana’s stability by promoting the country to the wider world. The country seriously requires substantial and sustained investment because while economically it is doing quite well, it remains too dependent on aid and is not able to take enough advantage of the wealth of natural reserves, resources and attractions that the country has in abundance.
Because of these facts the government have undertaken to make the necessary changes to constitutional legislation to allow for ease of overseas investment and they have begun implementing a five step plan that will raise the profile of the country, promote the far reaching investment opportunities that are open to foreign participation and create an economy that is stable and self maintaining.
The long term economic and social objectives for Ghana include the creation of local employment, an improvement of social services, an easing of inflation and an increase in domestic purchasing power - and it is through foreign investment that the country can achieve this therefore a property investor’s interest in Ghana is welcome.
For a property investor examining Ghana for the first time the types of opportunity are seemingly limitless with the government currently seeking to attract real estate developers and investors to target: -
a) domestic, low cost residential housing projects
b) inner city high rise residential projects
c) tourism accommodation projects including villas, apartments and hotels
d) retirement housing developments
e) industrial and warehousing units
f) commercial ventures such as retail, office, storage etc.
There are a wealth of investment incentives available that a real estate investor in Ghana could benefit from which makes the attractions of the Ghana property sector even more attractive. Incentive include a five year period of income tax exemption, customs duty import exemption, reduced corporate tax rates, substantial capital allowances and free transfer of capital, profits and dividends.
The investor climate in Ghana is ripe, the investment opportunities in Ghana are plentiful and property investors seeking a truly emerging market offering substantial potential for profit and yield should consider exploring real estate opportunities in Ghana today.
Africa:- Ghana Property Reports
Complete listing of all current property reports for region: Africa:- Ghana
