Homeownership in Ghana : JL Properties’ Unique Approach and Urban Development Strategy

Dr. James Orleans-Lindsay, Executive Chairman of JL Holdings and CEO of JL Properties, sheds light on the cultural roots shaping home-buying practices in Ghana, and highlights JL Properties’ innovative strategy in revitalizing city centers.

“Ghanaians are quite unique in their approach to homeownership. It is fascinating; you will encounter individuals who express their intent to buy a home by presenting a deposit upfront – say $30,000 or $40,000. They might not return precisely in two months, but within three or four months, they are back with another deposit, perhaps $50,000. This practice is unlike anything I have witnessed elsewhere, especially considering the conventional route of dealing with banks. It stems from our cultural upbringing, where parents emphasize saving for a home when one secures their first job. It is ingrained in our minds, and people diligently save toward this goal. Some may keep their savings under the bed, but the intention is clear – they aspire to own a home”, says Dr. James Orleans-Lindsay.

“This growing pressure for homes is bound to persist, but there is a need for a balance with pricing. While the demand is high, prices, particularly for luxury homes, tend to be steep. The actual market sweet spot lies in the mid-range, appealing to professionals like bankers, middle-level managers, and government employees. With the right pricing, there will always be buyers. However, factors like commuting pose a challenge, and this is where JL comes in as an inner-city developer. We specialize in revitalizing disused or disputed lands in the city center. Often, we resolve long-standing litigations, bringing families together and transforming neglected city spaces into valuable parcels of land for development. Commuting is a significant hurdle, and with the city center being the hub of power, government offices, and ministries, our strategic focus on these areas makes us one of the most sought-after real estate companies in the country”, 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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