Ghana Real Estate: Discussing Trends, Challenges and Opportunities with James Orleans-Lindsay

Dr. James Orleans-Lindsay, Executive Chairman of JL Holdings and CEO of JL Properties, shares his assessment of the current trends in the Ghanaian real estate market.

“In Ghana, the real estate market stands out as one of the most intriguing arenas to navigate. Over the last 25 years, it is the only market I am familiar with globally, and it is characterized by consistent growth. For example, in 2005, a two-bedroom semi-detached property in an upmarket area like Spintex Road was priced at $35,000. Fast forward to today, and the same property commands $140,000. This upward trajectory in prices year after year is noteworthy. Accra has undergone a significant transformation, evolving from a city with a population of 1.5 million to now accommodating over 6 million people, resulting in heightened demand for accommodation”, says Dr. James Orleans-Lindsay.

“Despite the market’s attractiveness, there is a shortage of proficient developers, and the absence of best practices contributes to inflated construction costs, affecting the realism of property prices. However, this scenario creates an opportunity for substantial players to enter the market, offering improved practices and realism in pricing. In essence, the market is there, it is evolving, and the emergence of a secondary market, where individuals trade homes for new opportunities, adds another layer to its dynamism. It is indeed an extraordinary market”, he adds.

ABOUT JL PROPERTIES: JL Properties is a real estate development company that specialises in building and selling residential unit developments at prime locations in Accra, Ghana. As a predominant real estate developer, JL Properties has over the years played and continues to take a major role in the expansion of the country’s housing and infrastructural needs, developing areas conforming to Town and Country Planning schemes, whilst contributing to the labor market.

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