Can a foreigner own a property in Ghana?
Jake Findi
Entrepreneur | RE Developer | Multi-family apartments real estate investor | RE Syndication | Author
I'm guessing you are a foreigner in Ghana and want to know if a non-citizen is allowed to buy property in Ghana. You have come to the right place. If you are not a foreigner i hope you will pick some gold nuggets in this post. Back to the question, can foreigners buy houses in Ghana? Yes, non-citizens can own land and properties in Ghana. I will discuss this in detail on property rights in a bit. First of all, you need to understand the law. According to Ghana law, all the physical structures on it which include your house are part of the land.
Despite unstable Ghana cedi to the US dollar, the real estate sector is experiencing a growing demand for properties due to urban migration, population growth, and an influx of foreigners and investors. If you are an expatriate in Ghana already, you have the advantage of tapping into a vibrant property market that offers both high-end luxury homes and more affordable options. That will depend on your taste and financial capacity.
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What are Property Rights in Ghana?
The 1992 Constitution and the Investment Promotion Act govern property rights for non-citizens in the country. A foreigner can acquire and own both residential such as apartments, houses, villas, vacation homes, retirement residences, or a place to stay while conducting business in the country. Or buy commercial properties in Ghana such as office spaces, retail outlets, industrial, warehouses, or land for commercial development.
For individuals, whether you are looking for a 2 bedroom house for sale in Accra or a bigger 3 bedroom house for sale in Accra, the laws of Ghana allow foreigners to buy a house in Ghana for up to 50 years on a leasehold. The freehold is only granted to Ghanaians. The new Land Act, 2020 (Act 1036) does not allow a lease period to exceed 50 years. Nonetheless, there is always a renewal clause in the sublease document upon expiration.
Alternatively, foreigners can establish corporate entities within Ghana and utilize these entities as the legal owners of the property. This approach leverages the principle of "nominee ownership," wherein the corporation acts as the proprietor on behalf of the expatriate stakeholders. If this sounds interesting to you, I will advise you to register with the Ghana Investment Promotion Centre (GIPC). There is valuable advisory service and support from the center.
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Where are High-End Areas in Accra?
There are top 9 high-end places to live in Accra like Cantonments, Airport residential, East Legon, Ridge, Labone, Dzorwulu, Roman ridge, Spintex, and part of Osu. Depending on your financial muscle you can buy any property type you want.
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Where are Affordable Places in Accra?
What type of house are you looking to buy or rent? Are you looking for solely affordable housing in Ghana? I should say that Accra is diverse, there are high-end areas and affordable places to live in Accra if you are planning to buy or rent. There are cheap and affordable houses for sale or rent in Kasoa, Adenta,? Dansoman, Taifa, Tantra, Tesano, Tema, Ayawaso, and Oyarifa.
That begs the question, is Ghana affordable to live in? If you compare the cost of living in Ghana to the US or other Western countries, Ghana is really affordable to live comfortably. You may want to make sure the location is desirable. Some areas are livable but not desirable. On the flip side, depending on your lifestyle, the opposite is also applicable. It is a matter of individual perspective.
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