Ghana’s real estate market has shown promise over the past 13 years, despite facing challenges. According to the Estate Intel report, Ghana, as part of Western Africa, contributed to the region’s total real estate investment volume of $1.2 billion between 2010 and 2023.
Ghana followed Nigeria’s lead in regional transactions, with a significant share of investments.
The commercial and hospitality sectors drove regional investments, with Ghana likely playing a significant role in these sectors. However, Ghana’s performance was overshadowed by Nigeria’s dominant transactions in the region.
Nevertheless, Ghana’s real estate market has potential for growth, particularly in the commercial and hospitality sectors.
The country can leverage its strategic location and economic stability to attract more investments in the real estate sector. The government and private sector can collaborate to develop infrastructure and projects that attract local and foreign investors.
Despite the challenges, Ghana’s real estate market has shown resilience.
Addressing the significant housing deficit and limited access to financing through policy reforms, public-private partnerships, and innovative financing solutions can help unlock the sector’s potential.
In conclusion, Ghana’s real estate market has shown promise over the past 13 years, and with the right strategies and collaborations, it can continue to grow and attract investments, contributing to the country’s economic development.
In 2023, Africa’s real estate investment volume amounted to $1 billion, constituting just 0.15% of the global real estate market valued at $684 billion. This data comes from the recently released “African Real Estate Capital Trends” report by Estate Intel, an African real estate market intelligence platform.
The report highlights that Africa had the lowest real estate investment volume in 2023, with the Middle East and South America also reporting comparatively low figures of $2 billion and $4 billion, respectively. In stark contrast, North America led with $373 billion, followed by Europe at $162 billion and the Asia-Pacific region at $140 billion.
The report further identifies that major real estate investments in Africa in 2023 were driven by significant projects in countries like South Africa and Kenya. Key developments included the Sam Ntuli Mall and the Standard and Nedbank buildings in South Africa, and projects like Highway House and Yaya Centre in Kenya contributed substantially to the investment volume.
Additionally, the Estate Intel report provides detailed insights into Africa’s real estate investment volumes from 2010 to 2023, highlighting performance across various regions of the continent
Source : African Home Building News – Joycelyn Marigold
