Investing in Ghana’s real estate has become increasingly popular, lucrative and profitable over the last couple of years. There are diverse investment opportunities to expand your portfolio of rental properties and achieve substantial returns.
With the economy heading in a positive, upward trend, there is an influx of business professionals, entrepreneurs, foreigners and expats willing to spend and invest in the country.
Investing in rental properties in popular neighbourhoods can bring great returns, providing that you do proper research about the rental values and tenants’ expectations.
As a property owner renting your unit to tenants, you receive a fixed rental income yearly or monthly, but you are also responsible for paying the costs of maintaining the property. As the landlord, you must ensure that your rental charges can cover the costs associated with owning a rental property.
Generally, properties appreciate in value over time, leaving you, the landlord, with a more valuable asset. Location is perhaps the most important to consider when buying to rent – seek popular and upmarket neighbourhoods that meet increasing housing demands and check out the rental values charged by landlords in the area of interest for similar properties.
For example, current upmarket and in-demand suburbs in Ghana’s capital city, Accra, include East Legon, East Cantonments, Airport Residential, and Spintex.
These suburbs offer a variety of property developments ranging from apartments to townhouses in residential estates, with great amenities and easy access to the city centre, business headquarters, and other places of interest.
Finally, if you invest in a rental property, there are also many challenges and responsibilities to consider. You can either be actively involved in the running and maintenance of your property employ the services of a professional property and rentals manager if the budget affords.
It is why you have to prepare yourself and budget accordingly in case of property damages by tenants, or the likelihood of not having a tenant for a period, which can affect your cash flow negatively.
Expand your property portfolio by investing in Ghana’s booming real estate market, and choosing the right property in the best location you can afford.
Mobus Properties Ltd. is a privately-held Ghanaian property investment, development and management company focusing on commercial and residential property development. The company has property portfolios in Ghana and Nigeria.
Want to live in the city? Try one of our upmarket, world-class developments.
Contact Mobus Property for more information.
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