Headlines for African Home Building News 29/02/25
Ghana’s Luxury Real Estate Market Booms Amid Growing Investor Interest
Cement Prices in Ghana Set to Rise as Retailers Adjust to New Costs
AUDA-NEPAD and Shelter Afrique Champion Innovative Finance for Sustainable Housing in Africa
Ghana’s real estate sector has experienced remarkable growth over the past decade, with luxury properties emerging as a key segment of the market. Economic expansion, rapid urbanization, and increased interest from the diaspora and international investors have fueled the demand for high-end residences.
Accra remains the focal point of this transformation, with affluent neighborhoods like Cantonments, Airport Residential, East Legon, and Roman Ridge serving as prime locations for luxury developments. The city’s modern infrastructure, improved amenities, and stable economy have created the ideal conditions for a thriving high-end property market.
As more discerning buyers seek premium homes that offer privacy, security, and convenience, developers continue to push the boundaries of luxury real estate in Ghana. The future of the market looks promising, with demand projected to grow as more investors recognize the potential of Ghana’s high-end property landscape.As Ghana’s luxury real estate market continues to expand, ILLAS Realty is positioning itself as a leader in delivering high-end developments that set new standards for exclusivity and elegance. The company’s focus on architectural excellence, premium locations, and world-class amenities has made it a key player in the high-end property sector.
ILLAS Realty is set to break ground on its flagship development, Luxe Maison, in Roman Ridge, Accra. This prestigious project will feature a range of premium residences, including studios, one-bedroom, two-bedroom, and three-bedroom apartments, as well as penthouses with breathtaking city views.
Designed to offer an unparalleled living experience, Luxe Maison will include modern interiors, state-of-the-art security, resort-style amenities such as a rooftop infinity pool and spa, and smart home technology for ultimate convenience.With Luxe Maison, ILLAS Realty is not just building homes but creating a new benchmark for luxury living in Ghana. As groundbreaking approaches, the project presents a unique investment opportunity for both local and international buyers seeking a premium real estate experience in Accra.
Cement prices in Ghana are set to rise sharply, with retailers planning a GHC 9 increase per bag from February 27, bringing the price to GHC 120. Some sellers have already implemented the new rate.
Retailers attribute the hike to increased port tariffs and the rising cost of imported raw materials. Samuel Azu, a cement seller, explained that without the adjustment, restocking would be impossible.Bismark Owusu Tetteh expressed frustration over frequent price fluctuations, calling for stricter regulations. Meanwhile, the Ghana Chamber of Construction Industry (GhCCI) has urged the government to intervene, with CEO Emmanuel Cherry stressing that only the government has the power to stabilize the situation.
The African Union Development Agency (AUDA-NEPAD), in partnership with Shelter Afrique, recently hosted a high-level side event on “Innovative Financing for Sustainable Urban Housing in Africa” during the 38th Ordinary Session of the African Union Summit in Addis Ababa, Ethiopia. The event, which took place at the Sheraton Hotel, brought together key stakeholders from across the continent to explore sustainable solutions for Africa’s growing housing crisis.
The rapid urbanization of African cities has created a pressing need for affordable housing, with demand far exceeding supply. This has led to the proliferation of informal settlements and placed immense pressure on urban infrastructure, slowing economic growth and impacting social stability. The discussions at the event sought to address these challenges by identifying innovative financing mechanisms tailored to Africa’s unique urban landscape.
Participants included Ministers of Housing, Urban Development, Infrastructure, and Construction from various African Union Member States, as well as representatives from AUDA-NEPAD, African Union officials, pan-African institutions, financial institutions, infrastructure experts, private sector investors, banks, and real estate developers. Together, they examined ways to integrate housing initiatives with broader urban planning and infrastructure investments to promote sustainability, inclusivity, and economic viability.
The event underscored the importance of strategic partnerships that leverage both public and private resources to meet Africa’s housing needs. It also reinforced the commitment to the Agenda 2063 vision and supported the operationalization of the Joint Action Plan between AUDA-NEPAD and Shelter Afrique. By fostering collaboration and innovative financial solutions, the initiative aims to drive transformative, sustainable urban housing solutions that will shape the future of African cities.
Source : African Home Building News – Joyceline Marigold
