Commercial properties in central Accra are far more expensive today than they were a few years back. Usually referred to as sound investments or buildings that house businesses, it is important to ensure that the commercial property you choose to invest in is capable of yielding investment returns.

In the Ghanaian real estate industry,  the overall returns on commercial properties are higher than residential properties and it helps in preventing the headache associated with dealing with tenants.

Quite a number of investors in Accra buy properties, then lease them to tenants in order to generate income. Many business owners in Central Accra do not have a place of their own, thus, the need to rent commercial properties for business transactions.

The location, quality of infrastructure and the number of units contained in a property determines the value and its worth. Below are some key things to note when investing into commercial properties.

READ ALSO: Flood Prone Areas in Accra

COMMERCIAL PROPERTY IN AREAS WITH GROWTH

Properties which are located in high traffic areas attract tenants and business owners who seek to work in the center of the capital. Commercial properties in Osu, Airport, East Legon, Dzorwulu, and Tema are popular among real estate investors in Ghana. The higher the foot traffic, the lower the hassle about getting a tenant to occupy the space.

COMMERCIAL PROPERTY WITH MIXED FUNCTIONALITY

Commercial properties capable of bringing in the highest returns are those that bring in the highest number of tenants. A mixed-use property that has different units serving such functions as office spaces, storage facility, housing and eateries is more likely to have a higher demand due to its nature of meeting different needs and the convenience it provides the public. The higher the number of tenants, the higher the potential investment returns.

COMMERCIAL PROPERTY IN RESIDENTIAL AREAS

Properties in residential areas create provisions for the needs of different services in order to meet demands of the residents of the community. For example, units of the Munasak Plaza provide spaces for a real estate agency, a flight agency and a shopping mall for residents in the community. Therefore, the investment decision to acquire a commercial property in a luxurious estate or a residential area is also a great investment if the services provided are intended to meet the demands and the needs of the residents, thereby, making the viability of the businesses housed within  most likely going to be long term.

Even though commercial properties are not for faint hearts and may cost more to maintain, they are more sought after and lead to higher returns. The recent demand for commercial properties in the capital, Accra, from the banking sector to telecommunications and supermarkets has increased the value of such properties. It is important to find the right kind of commercial property investment in order to make returns on the investment.