Ghana, known for being the largest gold producer and second-largest cocoa producer in Africa, is a country in the subregion of West Africa along the Gulf of Guinea and the Atlantic Ocean. It is a country that has gone to great efforts from being a low-income status to a middle-income status with a leading position in real estate development. Ghana has become a hotbed of opportunity for real estate developers and investors, who regard it as a golden opportunity to make a lot of money. The real estate market of Ghana in itself is moving at a significantly faster pace than projected some few years ago, and has become an important and strategic economic sector with regard to the reasons listed below;

# 1, Political stability

Ghana is a country widely acknowledged for its peaceful atmosphere due to the political stability it has been enjoying since 1992 to contemporary times. Political instability especially that of a violent nature cripples investors’ perception of acquiring property rights, attributing that to the fear of loss of the investment value.

However, for a country like Ghana, the real estate market appears to be improving since the country provides a generally stable and predictable political environment, giving investors confidence in their investment and making it a top real estate destination.

# 2, Rural-Urban Migration

Ghana’s population is approximately 30 million with a literacy rate of 79.04 percent meaning a huge number of the population are educated persons and professionals who troop into cities on a day to day basis eager for better lives and satisfactory standards of living.

The influx of mass population of people into the cities trigger an increased demand in to housing units, residential components, as well as commercial properties and other real estate amenities. The large-scale population migration promotes the development of real-estate markets in the population inflow areas, rendering real estate an appealing venture.

# 3, Growing Economy

Ghana’s inclusion in the list of least developed nations in the world doesn’t tell a befitting story as Ghana’s accelerated economy is regarded as one of the fastest on the African continent. The middle-income nation enjoys an appreciating annual GDP growth.

The steadily growing economy and general income of citizens are synonymous with a demand for housing, particularly as people are able capable of acquiring housing and residential units.

# 4, Infrastructure Development

Ghana’s construction sector is growing firmly, led especially by the boost of affordable housing and crucial infrastructure development such as roads, railways, ports, hospitals, and schools. The government’s effort ad investment in the local transport systems and infrastructure presents an inevitable heightened demand for real estate properties in upgraded areas and surrounding communities, in search of comfortability, accessibility, and easy motion among individuals. These initiatives by the government are low-key influencers on Ghana becoming a hotspot real estate destination.

# 5, Affordability

The ratio of house prices to earnings influences the demand, thus when houses are affordable, a greater number of potential buyers of property.

The Ghanaian government is mindful of the impact of prices on real estate demand and is keen to include strategic measures in its affordable housing project partnership with both domestic and foreign real estate investors and developers to integrate affordable housing costs help satiate the growing population. The housing project, according to the government is to help eradicate Ghana’s current housing deficit estimated to be about 5.7 million.

# 6, High Demand

There is an increasing demand for residential, as well as commercial property in Ghana amidst the supply in the real estate market due to the overwhelming population and urban migration challenges, with Ghana having a huge deficit of 5.7 million housing units. This plight is undoubtedly creating more space for the real estate market due to high demand for residential properties.

# 7, Location

The location of real estate facilities represents a crucial deciding factor in the real estate venture, however, this ideal seems an advantageous property for the Ghanaian nation, particularly for its location as one of the few countries in the heart and center of the world.

Ghana, located just a few degrees from the equator has a tropical climate with a wonderland of tropical flora and fauna. Its natural beauty, encompassing plains, low hills, rivers, white sandy beaches in addition to a warm-hearted nation with friendly locals has made it a popular tropical destination for real estate developers. Proximity to amenities, green space, scenic views and beautiful landmarks project real estate within Ghana as an appealing venture and an influence on neighborhood’s status which is a factor in property valuation.

# 8, Availability of Lands

The existence of land is an imperative resource for real estate development, thus there is no real estate without land. Lands form a major contributing factor to real development and the construction industry as a whole. As a result, no lands equals no real estate, bringing the construction industry to a halt.

Ghana spans a landmass of 238,535 km² with available vast lands that could be used judiciously and in tandem with smart, innovative and sustainable infrastructure. The availability of lands in Ghana is adding to the country’s capacity in the real estate development world, pushing the boundaries of the real estate market.

# 9, Consumer Confidence  

Consumer confidence is high in Ghana, which leads to a larger marginal propensity to buy more. With real estate providing easy and accessible properties and assets, confidence has most certainly augmented than ever considering the rapid rate at which houses are sold and bought. People trust that the most effective way to secure their funds is by taking up properties and assets. As a result of consumers’ increased confidence in acquiring properties, Ghana’s real estate industry continues to expand rapidly.

#10, External Investors   

Ghana represents an investor-friendly nation that cherishes bonds with foreign investors, and readily welcomes resourceful investors with innovative and strategic ideas that contribute to growth and development. The real estate sector has benefitted from these partnerships, which have driven the Ghanaian nations appeal as a top real estate destination.

There are numerous ways Ghana is making headways in the real estate industry. And it’s very interesting how an underrated country is doing so much in a sector this huge. Ghana has become a real estate haven, majorly because of the favorable conditions exuded by the politically stable nation.