Where Should You Build or Buy in Ghana? The Locations the Diaspora Are Rushing To – And Where to Avoid

Ghana’s property market is booming, but the location is everything. Leslie Brobe, CEO of Ocean B Properties, shares the crucial insights you need to know.

Accra’s New Gold Rush: The Best Investment Hotspots

As expert Leslie Brobe emphasizes, “Location is key to anything when it comes to property.” Smart money flows to areas offering the best capital appreciation and the highest dollar-denominated rental yields.

The Cantonments Rental Formula

If you buy a property for about $190,000 in a prime area like Cantonments, the rental returns are significant. Leslie’s estimate: at $150 per night with an 80% occupancy rate, you could see a return on investment (ROI) in 6 to 7 years. This is driven by Ghana’s tourism boom (Easter, Christmas, summer) and expatriate demand.

The Costly Mistake: Location Over Value

A common mistake for first-time buyers is focusing only on the lowest price of land.

• The Kasoa/Village Trap: Building a “fabulous house in Kasoa” or a remote village like Akim Oda will cost the same to build as one in East Legon. However, you will lose on rental returns.

• Leslie’s Verdict: “The rental values are different… you can’t earn dollars” in low-end suburbs, making the investment less lucrative. “Buy where development is headed, not just where land is cheap.”

Strategic Entry: Investing Off-Plan

For diaspora and local investors without $100,000 upfront, Leslie recommends the Off-Plan strategy:

1. Flexible Payment: Reputable developers allow buyers to put down a deposit and pay installments over the 1-2 year construction period.

2. The Flip: Smart investors “buy off plan at a cheap rate and then you flip it afterwards.” The completed building has a higher market value, allowing you to easily make a $10,000 – $20,000+ profit after completion.

Vetting is Vital

The Risk: Off-plan scams have happened. Do not be “naive and just go and buy property from anybody.”

The Solution: Work with established, successful developers (e.g., White Wall Properties, Miler Homes, or other reputable companies like Devtraco Plus, Clifton Homes, Regimanuel Gray). Ensure the developer has financial stability to complete the project without relying solely on your installment payments.

Due Diligence: The 3 Critical Steps You Must Take

According to Leslie, you need more than just a search at the Lands Commission to protect your investment.

1. Certify the Boundaries (Cadastral Plan)

• Don’t trust the seller’s site plan alone.

• Action: Hire an independent Surveyor to go to the land, get the exact coordinates, and produce a certified Cadastral Plan.

2. The Full Search at Lands Commission

• Take the Surveyor’s Plan and request a Full Search (takes about two weeks).

• Action: The Full Search provides the complete history of the land, verifying who owns it and who has owned it in the past. Cross-check this with the seller’s documents.

3. The Lawyer & Court Check

• The Lands Commission search won’t reveal an active court dispute.

• Action: “It’s very important to engage a lawyer in the process” to investigate the court system for any judgments against the land (e.g., from divorce disputes or previous multiple sales).

Places to Avoid Without Extreme Vetting:

• Unregistered stool lands.

• Areas with ongoing land disputes.

• Flood-prone zones.

Beyond Accra: Regional Value

While Accra offers the highest immediate yields, smart investment also means looking at areas poised for future growth, a strategy known as land banking.

The key takeaway is clear: the property market in Ghana is not a bubble, but an increasing demand fuelled by urbanization and the diaspora. Your success depends entirely on your knowledge and diligence.