Real Estate is the third most lucrative investment opportunity in Ghana as Accra and neighboring suburbs are witnessing a surge in construction while developers see a growing influx of cash from foreign investors. Ghana has an improving business environment with strong impacts on infrastructure and real estate markets. –Culled from: africa.com
The Africa business report agenda published by PWC in May 2016 shows that 58% of shifts in Global Economic power in Africa with respect to Ghana will help in transforming business expectations within the real estate sector in the next five years. Ghana ranks 114 (57.69%) on the ease of doing business rankings, and is also named the “Best Place for Doing Business in the ECOWAS Region, according to World Bank Doing Business Report 2014
Gaining the world’s confidence in firm commitment to democracy has helped in expediting Ghana’s growth in foreign direct investment (FDI) in recent years.
As Ghana continues its trajectory to become a top 20 global economic power, investing in the Riviera Residence opens a wealth of opportunities for real estate investors and developers of prime real estate in one of Ghana’s fastest-growing suburbs- East Legon.
Real Estate Investment – The Riviera Residence
The Riviera Residence development, a mixed-use residential development has become the most sought after waterfront address in Accra with 78 apartments consisting of studios, 1 Bedroom, 2 bedroom and 3 Bedroom units as well as Penthouses, offering living, play and leisure experience overlooking a magnificent man-made lake.
The developer believes this landmark development caters more to the budget of aspiring homeowners and savvy investors. East Legon is an area in high demand – 21 percent of online searches for the property are for East Legon according to local property sites.
The Riviera Residence lies within the thriving suburb of East Legon, which is fast becoming the jewel of Accra, and is close enough to the Katoka International Airport, most desired for tranquil living away from the congestion of inner city dwelling.
These lakeside apartments offer unbeatable value for money and is well located for work, living and relaxation in, a 2minutes drive from A&C mall, a University, banks, and schools.
In terms of facilities, this 5-storey development boasts of ample covered parking space, 4-storey high infinity swimming pool, backup water reservoir, fitness centre, a fully secured children’s play area and a multi-purpose clubhouse, which can be booked for private resident functions.
East Legon is fast becoming the new business spot in Accra with decentralization from central city growing northwards. Given the location and unrivalled lifestyle experience on offer at the Riviera Residence, this is an opportunity for investors or first time home buyers to maximize their financial portfolio. Money value prices allow for investor yields of 10% to 12% at current market rates.
One bedroom studio goes for $750 monthly rent and will yield an annual rental fee of $9,000 and an assumed yield of12%.While at an assumed yield of 10%, the 3 bedrooms costing $1950 monthly will amount to an annual rent of $2,340.Quite juicy.
Cash buyers defined as paying at least 80% during 24 month period from launch, will have to sign a reservation form and pay $4000. 14 days after signing the reservation form, the buyer is required to sign and return sales and purchase agreement and pay 20%. This category of buyers will have to pay 4 instalments of 15% every 4 months and on completion, the buyer pays 20% on completion.
Mortgage Buyers-Option 1
This option is not available to studio apartments, but available to other apartments available. For this payment plan, the buyer pays 15% 14 days after signing reservation form, sign and return Sales and Purchase Agreement. Thereafter, 15% is pad 6 Months after paying reservation form. The balance will be paid on completion by buyer’s mortgage provider.
Mortgage Buyers- Option 2.
Offering the buyer a different payment plan apart from, this second payment plan demands that the buyer signs a reservation form for $4000, then proceed to pay 25% 14 days after signing the reservation form, sign and return Sales and Purchase Agreement form. The balance of payment will be paid by the mortgage provider.
For further information and enquiry, contact Andre at email@example.com