Guide to Finding Houses for sale in Ghana as a Foreigner

houses for sale in Ghana

houses for sale in Ghana

Real estate in Ghana is one of the best investments that anyone can make. Property in Ghana is affordable as compared to the international market and the return on investment for a property is approximately between 6-10%. There are many houses for sale in Ghana which can be bought at a very good price for personal use or as an investment. Since the laws of Ghana allow foreigners to own property in Ghana, as a non-Ghanaian, you may wonder how does one invest in real estate in Ghana? This guide will show you how you can find the best properties for sale at a very affordable price.

If you are looking to dip a foot into the Ghanaian real estate market, then there are a few things you need to know if you want to buy a house in Ghana. First, the Ghana real estate market, in 2019, saw a massive increase in revenue. You can invest in various types of land and property in Ghana but for this guide, we will be focusing on finding and buying houses for sale in Ghana.

READ ALSO: Affordable Houses For Sale In Accra

1. Have a Goal

The first advice that will guide your house buying decision in Ghana is to have an aim for purchasing the house. Having a goal will inform the type of house you want to buy. There are various types of houses that you can buy. One-bedroom houses, two-bedroom houses, three-bedroom houses and four-bedroom houses are the most popular in Ghana. The cost of a 3 bedroom house in Ghana varies depending on the location and the build of the house but you could get one between the prices of GHS 300,000 to GHS 2M and upward depending on the quality and finishings.

If you are looking to buy a house as an investment then that will inform the type of house you are willing to buy. The location of that house also becomes a priority just because you are purchasing it as an investment. Busy commercial areas such as Cantonments, East Legon, Airport Hills, Labone, Osu, North Legon and others are very good options if you want to purchase a property as an investment. Your overall goal for the investment will determine the type of house and the neighbourhood where you may look to purchase in Ghana.

2. Work with a Real Estate Agent

Real estate agents are professionals that can help you find the best of properties at a good price. These agents have a strong local knowledge of the properties and can advise you on which property to purchase based on your goal. Agents also take away the stress of manually searching for properties yourself. If you do not reside in Ghana, an agent can be of great assistance by representing you to view the house that you want to purchase. 

With the help of technology, you can be in America and be on a video call with an agent in Ghana. They can even send you a live video feed of the property of interest and take you on a virtual tour.

There are two main forms of agents in Ghana. Private real estate agents and real estate agencies. You can work with either based on the value that they offer. The Ghana Association of Real Estate Brokers has a directory of verified real estate agents in Ghana that you can work with. This directory is available to everyone and you can use it to check if the agent you are dealing with is registered or you could also use it to find an agent. You could also find agents and houses for sale in Ghana through the Meqasa website. All listings on the site are represented by verified agents so you reduce the risk of getting scammed by fake agents.

If you are serious about buying a house in Ghana then you would be best served working with an agent. This will help you get the best deal as some are very good at negotiating. You might even be able to buy a house in Ghana and pay monthly until you completely buy the house. Without an agent, such a deal may not be possible.

3. Do your Research

Once you have an objective for buying a house in Ghana and you have an agent or agency you are working with, the next thing is to do your research. There is a saying in Ghana that when you are buying a house or land, you should treat it as though the person selling to you is trying to scam you. This goes to say that you should do your own research and get as much information as possible. If the person selling the house is selling at a price below the average rate for that area then you should ask more questions.

If you happen to be in Ghana, then make sure you visit the house and view it for yourself. Hire a valuer to value the property and perform all necessary structural checks to make sure that the house you are purchasing is in good condition and worth the asking price. Work with a lawyer to make sure that all the documents are in order and that the owner has enough legal authority to dispose of the property. You can run a check on the property at the Lands Commission to verify. Check with the courts if there are any cases on that house and be 100% sure before you go ahead to exchange money.

4. Location

Where the house is located can make a difference especially if you are purchasing the house as an investment. Accra is a connected city so purchasing houses anywhere in the Greater Accra region is likely to be a profitable venture, however, there are some areas that are more preferred and which stand to give you greater and quicker returns.

houses for sale in Ghana

The main roads that pass through the Greater Accra region are the N1, N2, N4 and the N6. Buying a house close to any of these roads is a good option.

Ask the locals within the area to find out more about the house and the owner. Lots of the land litigation cases in Ghana could have been avoided if a little research was done. You could hire a private investigator to do all that research work for you if you are not in Ghana. Also, make sure that the house is located in a conducive environment for the kind of investment you are looking to purchase real estate to engage in. For instance, having a bar which plays loud music during the nights will not make tenants happy. Drive around the neighbourhood at night to see how well lit the area is at night. Having an expensive house in an area that is not favourable can reduce the total yield of the property.

5. Work with a Developer

Real estate development in Ghana is growing at a rapid pace and some of the companies spearheading this growth are real estate developers. These are companies that specialise in building fully furnished properties that can be rented or bought. Purchasing a house from a developer is one of the safest forms of investment as they make sure that the properties that they are selling have undergone all due diligence processes and are litigation free. That should not prevent you from doing your own research on the property, however. You can find verified developers on the meqasa website and engage them directly to receive great deals.

Working with a developer may sometimes be more costly but they take away all the manual input and time you would have to invest in the building of a house and offer you a fully furnished house in a good location with modern amenities which is worth the cost.

6. Know the Laws

Last but far from the least is to know the laws that govern the buying and selling of property in Ghana. The law is quite extensive and it is being updated to meet the current needs. You can read a more extensive breakdown of the Ghana property law on our blog and also about how to avoid land litigation. The laws in Ghana prevent foreigners from owning land for over 50 years. The average Ghanaian can own a property on lease basis for up to 99 years. Even if a foreigner should buy a house, they would still have to pay for the land when the lease is due. It is always advisable for foreigners to work with qualified lawyers that understand the law and can properly interpret and advise so their client is not found wanting in any area.

READ ALSO: A List of Estate Houses For Sale In Ghana And Their Prices

Purchasing a house for sale in Ghana is not a straightforward process but if you are willing then it should not be a pain once you work with the right people. An investment in real estate is good and has a promise of high yields. Find hundreds of houses for sale in Ghana on the meqasa website and start your house purchase process.

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