Accra - A Booming Property Market!
Get a good education, a good job, and move out of your parents’ home. This is starting to become the norm for most Ghanaians, especially in the more developed and modernized urban areas. This has especially come to the fore as more people are moving away from the extended family and towards the nuclear family system. This trend has led to a certain degree of self-dependency and this manifests itself strongly with the desire for people to own a house they can call their own.
In recent times, a large number of Real Estate developers are taking advantage of the vast and ever expanding market and are looking to supply enough properties to meet the varied demands of different consumers. These properties such as apartments for sale, single family houses for sale and special property for sale are usually sold finished and fully functional enabling buyers to move in at their convenience. Some developers also include extras like furniture, back-up water storage, and back-up generators amongst other things. The cost of these extra features are usually factored into the overall amount to be paid by the consumer.
Buying Your Dream House
Buying a property in Accra is relatively simple. This is due to the steps taken by government institutions to streamline the process and make it as easy as possible. Real Estate agents advertise their properties through a variety of media, and most popular amongst these are word of mouth and radio. In recent times, the popularity of internet has also provided an affordable and extensive means of advertising, which connects the buyer to the seller. People looking to buy a house can conveniently search from using their phones or computers, quickly find the house they are interested in, and arrange a meeting with the agents or owner.
Once the purchase price is agreed between the two parties the transaction will have to be registered with the Lands Commission to signify the transfer of the interests and property to the buyer. When the transaction is registered legally and payment is made, all that is left to do is for the keys to be handed over and the buyer to move in.
Financing of the transaction is usually via the buyers own pocket. In recent times, however, the increase in the number of banks in the country, as well as other financial institutions has allowed potential buyers to access mortgages to finance property purchases.
Houses for sale in Ghana range from as low as GH₵100,000 to as much as GH₵150,000,000. These prices are mainly affected by the location of the property, as well as if the owner is willing to add extras to the basic house, like water reservoirs and air conditioners. The diversity in prices ensures that almost anyone can own a house in Ghana.
Pictures by Inimage & Jumia House