Business News of Wednesday, 29 November 2023

Source: Vaal Real Estate

Emerging luxury Real Estate markets in Ghana

Emerging luxury Real Estate markets in Ghana Emerging luxury Real Estate markets in Ghana

Ghana's real estate sector has seen tremendous growth over the past decade, driven by a rapidly expanding middle class, increased foreign investment, and a wave of Ghanaians returning from abroad.

This growth is particularly apparent in the high-end luxury property market, which caters to wealthy locals, expatriates, and overseas investors.

Several factors make Ghana an attractive emerging market for luxury real estate:

Economic growth and political stability

● Ghana has been one of the fastest-growing economies in Africa, with GDP growth averaging over 6% annually since 2011. It's rapidly transitioning to a service-based economy.

● Increased oil and gas production since 2010 has boosted export revenues.

● Ghana is a politically stable democracy with relatively low corruption. This makes it appealing for foreigners looking to invest in real estate.

● A growing middle class with higher disposable incomes is fueling demand for upscale housing.

Read more below.