Investment Property in Accra

Investment Real Estate in Accra

Accra property investment can be a worthwhile venture if you are selective with the areas you choose to invest in. If not, you could find that your investment suffers due to low rental yields, dwindling demand, and slow property price growth in many parts of Accra .

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Search Map of Accra Investment Real Estate

Accra (; Twi: Nkran; Dagbani: Ankara; Ga: Ga or Gaga) is the capital of Ghana covering an area of 225.67 km² (87.13 sq mi) with an estimated urban population of 4.2 million as of 2020. It is organized into 12 local government districts – 11 municipal districts and the Accra Metropolitan District, which is the only district within the capital to be granted city status. “Accra” usually refers to the Accra Metropolitan Area, which serves as the capital of Ghana, while the district under the jurisdiction of the Accra Metropolitan Assembly is distinguished from the rest of the capital as the “City of Accra”. In common usage, however, the terms “Accra” and “City of Accra” are used interchangeably.

The intersection of the Lafa stream and Mallam junction serves as the western border of Accra, the Great Hall of the University of Ghana forms Accra’s northern border, while the Nautical College forms the eastern border. The Gulf of Guinea forms the southern border.

Formed from the merger of distinct settlements around British Fort James, Dutch Fort Crêvecoeur (Ussher Fort), and Danish Fort Christiansborg as Jamestown, Usshertown, and Christiansborg respectively, Accra served as the capital of the British Gold Coast between 1877 and 1957 and has since transitioned into a modern metropolis. The capital’s architecture reflects this history, ranging from 19th-century colonial architecture to modern skyscrapers and apartment blocks.

Accra is the Greater Accra Region’s economic and administrative hub, and serves as the anchor of the larger Greater Accra Metropolitan Area (GAMA), which is inhabited by about 4 million people, making it the thirteenth-largest metropolitan area in Africa. Strategic initiatives, such as transportation, are coordinated between the local government authorities, while the Accra Metropolitan Assembly, based in West Ridge, is responsible for the administration of the 60 km² (23 sq mi) City of Accra only.^{[citation needed]}

Accra is the most densely populated city in Ghana. The central business district of Accra contains the city’s main banks and department stores, as well as an area known as the Ministries, where Ghana’s government administration is concentrated. Economic activities in Accra include the financial and commercial sectors, fishing, and the manufacture of processed food, lumber, plywood, textiles, clothing, and chemicals. Tourism is becoming a thriving source of business for those in arts and crafts, historical sites, and local travel and tour agents. The Oxford Street in the district of Osu has grown to become the hub of business and nightlife in Accra.^{[citation needed]}

In 2020, the Globalization and World Cities Research Network think tank designated Accra as a “Gamma −” level global city, indicating a growing level of international influence and connectedness.

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The financial stability of Accra has translated into a real estate market that rewards forward planning and a willingness to look beyond areas of traditional affluence.

Buy to Rent in Accra

Renting out your Accra buy-to-rent investment property can grow wealth and income.

Whatever your goals with investment property in Accra are – preparation is key.

Set goals based on how much rental yield will be required and the local rental yield rates in Accra and be prepared to change your initial outlook.
Thoroughly research the Accra location with a special emphasis on fringe areas outside the main Accra metropolis that may be valued lower than their better-known neighbors. Rental yields of around 5% are still attainable in certain areas of Accra.
Ensure that your target investment property in Accra appeals to professionals. This is a demographic that ensures maximum income and low voids.
Finding and vetting suitable tenants is a job ideally left to the professionals. Working with an established letting agent such as Physis Realty with local knowledge and experience of property legislation will give you the best chance of success.
You may think that managing your Accra properties yourself is an easy option, but are these savings justifiable when you run into Accra red tape? Physis Realty Accra office in downtown provides you with peace-of-mind and leaves you time to plan your next move in the growing Accra buy-to-rent sector.

With our expert guidance, investing in Accra provides the secure knowledge that your money is working harder than it would in a local Accra bank and that future generations of your family will be left with substantial capital growth assets.

We are always happy to advise on buying investment property in Accra, where we have been established for over 35+ years. Physis Realty has been a firm fixture in the Accra property market through good times and bad. Our experts have seen it all and our portfolios continue to outperform.

Flipping Investment Property in Accra

Flipping property in Accra

Flipping property is when we advise clients to buy a Accra property below market value, renovate it and then make a profit by selling it at a higher price, all within a few months, and often before the Accra market has a time to react to the renovation.

The Flipping Strategy in Accra

Investment property flipping in Accra is a simple strategy. You find a property that is in need of renovation from our list and purchase it for a low price. These type of Accra real estate investments are sometimes referred to by professionals as ‘distressed’ Accra real estate.

What is distressed Accra property:

Accra property in need of renovation
Accra real estate with a change of purpose and use
Oversold Accra property
Bank repossessions in Accra

Put simply, long term investors in Accra purchase the property, renovate it and make it a lot more attractive to potential buyers.

Calculate profit that you make from Accra investment property flipping:

Final Selling Price less Cost of Purchase less Costs = Profit

Here is an example:

Accra property purchase price: $220,000

Renovation costs: $20,000

Other costs: $25,000

Property sale price: $400,000

Profit: $135,000

Experienced property developers in Accra use a minimum profit value of 22% when looking at potential Accra projects. The reason for this is because there are lots that can go wrong in Accra property flipping and working on a potential margin of 22% should still leave a good margin of error.

Luxury Property in Accra

For luxury property investors hoping to add a superb property in Accra to their luxury real estate investment portfolio, Physis Realty is a trusted partner.

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A world leader in luxury real estate with a portfolio comprising some of the most sought-after real estate in Accra, Physis Realty caters particularly to high net-worth individuals and families. A luxury real estate investment in Accra should be entrusted to only the highest-quality agency.

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