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Obed A Quaye

Property Acquisition in Ghana by Diaspora Investors: How It Works

Updated: Apr 18, 2023

With a rich culture, history, and natural resources, Ghana is a stunning and diversified nation in West Africa. In addition to this, it has one of the fastest developing economies in the region, which draws in a lot of foreign investors and expats who wish to live and work there. If you belong to this group, you may be interested in learning how you can purchase property in Ghana.



1. Set a goal

Having a goal for acquiring a house is the first piece of advice that will help you decide about buying a home in Ghana. Your choice of home will be influenced by the objective you have. There are numerous types of homes available for purchase. The most common types of homes in Ghana are one-bedroom, two-bedroom, three-bedroom, and four-bedroom homes. The cost of these homes varies widely depending on the type, location, and style of the home and the quality of the construction and interior finishing.


The kind of home you are willing to purchase will depend on whether you want to use the purchase as an investment or not. If you are buying the house as an investment, the location also becomes important. If you wish to buy a property as an investment, busy business locations like Cantonments, East Legon, Airport Hills, Labone, Osu, North Legon, and others are excellent choices. Less well-known locations like Aburi in the suburbs of Accra are also a great choice. The kind of home and the neighbourhood you could consider buying in Ghana will depend on your overall financial goals. 2. Get familiar with the different types of land in Ghana

Ghana has four different types of land: vested land, family or private land, customary or stool land, and government land. State or public institutions possess government and vested land, which may be leased to foreigners for up to 50 years. Customary or stool land is the property of traditional authorities or communities, who have the authority to offer leases or concessions to outside parties for a period of up to 50 years. Individuals or families that own family or private land may sell or otherwise dispose of their property rights to non-resident aliens. Foreigners cannot own land outright in Ghana due to the 1992 Constitution's prohibition on freehold interests in land.


3. Become a member of the Ghana Investment Promotion Centre (GIPC)

You must register with the GIPC, the organization in charge of promoting and facilitating foreign investment in Ghana, if you are purchasing property in Ghana for investment purposes, such as renting it out or developing it for commercial use. You can gain access to advantages including tax breaks, profit repatriation, and investment protection by signing up with the GIPC. However, you are exempt from the GIPC registration if you are solely purchasing real estate for personal use.


4. Select the kind of property to buy

Apartments, town homes, commercial buildings, and even vacant land are available in Ghana for purchase. You must choose the kind of property you wish to buy as a diaspora investor and your spending limit. This will enable you to focus on properties that suit your investment objectives and reduce the number of possible options.


For investors from the diaspora who wish to generate rental income, apartments and townhouses are attractive investment choices. These homes typically include modern amenities like swimming pools, gyms, and security services and are situated in well-established areas. They are also easy to manage because maintenance and repairs are typically handled by the property management firm.


Commercial real estate in Ghana, including office and retail buildings, are also a well-liked investment choices. These properties have the potential to bring in substantial rental income, particularly if they are situated in upscale business areas. It is important to note that when managing residential properties dealing with several tenants and upkeep issues, can be more difficult and time-consuming than when managing commercial properties.


For diaspora investors who want to build their own properties, land is another investment choice. In Ghana, land is generally inexpensive, particularly on the outskirts of the city. However, it can be a difficult and drawn-out process that necessitates a substantial financial outlay to develop the site.


5. Attend open houses

Attend open houses to get a sense of the housing market in the neighbourhoods you're interested in. This can also help you determine what you like and don't like in a home. You may also compare brochures from developers in the areas you are interested in.


6. Get a home inspection

Once you've found a property that you're interested in, it's important to get a home inspection. A home inspection can reveal any issues with the property, such as structural damage or plumbing problems, which can affect your decision to buy the property or the price you're willing to pay. For completely new homes, you may get the inspection to ensure the home fits the specifications the developers mentioned.


7. Negotiate the terms of the sale

Once you have found a property that meets your investment goals and that has passed due diligence, the next step is to negotiate the terms of the sale with the seller or their representative. This includes the purchase price, payment terms, and any other conditions of the sale.



It is important to conduct research on the local real estate market to ensure that you are paying a fair price for the property. The real estate agent can provide you with information on recent sales of comparable properties in the area to help you determine a fair price. You should also negotiate the payment terms with the seller. Some sellers may require a down payment before the sale, while others may be willing to accept payment in instalments.


8. Locate a trustworthy real estate agent and attorney

In Ghana, purchasing real estate can be a challenging and perilous procedure, particularly for people who are unfamiliar with the local market and legal system. To identify the ideal home, negotiate the price and terms, perform due diligence, prepare the legal documents, and register the title, it is advisable to work with a professional real estate agent and lawyer. You can look for real estate brokers and attorneys online or through recommendations from friends or co-workers who have already purchased property in Ghana.


9. Do a title search and examination

You should carry out a comprehensive title check and inspection of the property you wish to buy before you sign any contracts or hand over any cash. You can confirm the ownership and condition of the property through a title check, as well as any liens or legal challenges that can influence your rights. An inspection will assist you in determining the property's value and condition, as well as any flaws or damages that might require renovation or repair. To complete these tasks for you, you can engage a qualified valuer or surveyor.


10. Adopt the conveyance deed and file the title

A deed of conveyance or an indenture, which is the legal instrument that transfers the ownership of the property from the seller to you, must be signed after you and the seller have reached an agreement on the purchase price and other terms. Also, you must pay stamp duty, a tax assessed at progressive rates ranging from 0.25 to 1 percent on the value of the property. The Lands Commission Secretariat, which is the organization in charge of keeping track of and certifying all land transactions in Ghana, is where you must then register the title. There are various steps involved in the registration process, which can take up to 48 days.


11. Relish your new residence in Ghana! Congratulations!

As an expat, you've been successful in purchasing real estate in Ghana. Now that you have your new home, you can enjoy living there or making money from your investment. However, keep in mind that purchasing a home is a long-term commitment. You must also keep up with property maintenance, pay taxes and other bills, renew your lease if necessary, and safeguard your rights from any potential problems or disputes.


To conclude, property acquisition in Ghana by diaspora investors is possible and profitable if you follow the right steps and procedures. You need to understand the land tenure system in Ghana, conduct due diligence on the property you want to buy, negotiate with the seller and hire a lawyer, pay the necessary fees and taxes, and secure financing for your purchase. By doing so, you can enjoy the benefits of owning property in Ghana and contribute to its development.


ColeWood Properties can assist you in starting your property acquisition journey in Ghana. To find out about our Amistinea Estate luxury development in Aburi, Ghana,

please view our Properties Listings or call our Sales Team on +233 59 401 6358 or you can email us at contactus@colewoodproperties.com.





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