What to consider when buying land in Accra

Ghana’s rapid urbanization has made land in its capital city highly sought after for both residential and commercial purposes. The price of land for sale in Accra continues to rise at an average rate of 22% per year, generating significant capital appreciation for property owners. This impressive return incentivizes many people to buy land. This article will help you avoid potential pitfalls by discussing key factors to consider when purchasing land.

• Location: Although Accra has a thriving real estate market, not all locations offer the same value in terms of access to infrastructure, availability of amenities, commercial prospects, and quality of life. It is best to consult with trusted developers to find the most desirable location within your budget.

• Serviced Plots: Do not assume that all plots are the same. Serviced plots come with access to electricity, water, roads, drainage, and other amenities that allow for immediate construction. Avoid being tempted by the low prices of unserviced plots, as the additional costs you may incur could outweigh any initial savings.

• Litigation Issues: Unfortunately, litigation issues continue to affect land acquisition in Ghana. It is advisable to purchase land from developers with a reputation for providing litigation-free properties.

• Lease Arrangements: Some potential land buyers are unaware of the lease terms of the land they are purchasing and may end up with land that has a lease as short as 20 to 30 years. It is best to have a lawyer ensure that you are getting the best deal for the amount you are paying.

• Prospects for Value Appreciation: The best potential return from purchasing land in Accra comes from finding a location with significant growth potential that is being sold at a great value. Partnering with a trusted developer with a track record of delivering value to property owners is essential; otherwise, you may end up with land that has low growth potential.

Given all these considerations, a potential land buyer should look into Devtraco Woodlands, a 592-acre master-planned community in Dawhenya/Miotso, just a 1-minute drive from Central University College. These litigation-free, serviced plots come with all the amenities required to start building your dream home immediately.

Dawhenya/Miotso is one of the fastest-growing communities in Accra and offers significant capital appreciation potential for landowners. Take advantage of this opportunity to be part of a thriving new community and contact Devtraco today at 0208 732 302 to get started.