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Finance & InvestmentTue, 19 Oct, 21

Ghana’s Real Estate Sector is an Industry Worth Exploring – JL Properties CEO

Ghana’s Real Estate Sector is an Industry Worth Exploring – JL Properties CEO

The CEO of JL Properties, James Orleans-Lindsay, has encouraged investors to venture into the Ghanaian real estate market as the industry offers competitive profits within the investment community, adding that the Ghanaian economy is picking up at a faster rate, giving realtors a huge opportunity to take advantage of.

He made these remarks in an interview with Real Estate Times Africa, saying anybody entering the market with a clean mind will surely make a profit. He said the country’s peaceful coexistence and political stability, as well as recent government initiatives like the digitisation drive and Ghana card, would further strengthen the real estate investment environment.

"There is improvement in the security, peace and stability and the way of life of the people and when people find wealth, the next thing they do is to find safe place of shelter.

"Now with digitization and Ghana card coming along, nobody can take your property without paying, nobody can take your land away from you. There have also been a lot of improvement in our law courts and all brought together, I can tell you that those are some of the things that are aiding the industry.

"I can say it’s an industry worth exploring," Mr. Orleans-Lindsay,

One of the many challenges of real estate investment in Ghana has to do with access to finance. In that regard, Mr. Orleans-Lindsay indicated that the financial sector has significantly improved after the clean-up exercise the Bank of Ghana undertook. Though access to credit still remains a problem, James believes a lot of progress has been made and it will definitely get better going forward.

"It [financial sector] has improved tremendously after the last 2 to 3 years when the clean-up was done. There is a bit of money to be given up to very good projects if your project is well packaged, you will get support. It is not perfect, its purely progressing towards perfection. And so, it [lending rate] has moved from 36 percent. now some people are doing 19.5 percent, 20 percent and that’s progression," he noted.

Mr. Orleans-Lindsay concluded by urging real estate players and potential investors to onboard early to enjoy the benefits of the sector, adding that it’s all a matter of time to reap the benefits of investing in real estate.

 

Source: Mohammed Bomanso Issah (Real Estate Times Africa)

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