Property sector poised for growth amid renewed investor confidence

By Joshua Worlasi AMLANU

Ghana’s real estate sector is entering what industry players describe as its most supportive financing environment in nearly a decade, underpinned by easing inflation, a recovering cedi and consecutive interest rate cuts by the Bank of Ghana, Managing Director, Enterprise Properties Limited (EPL), Kwadwo Nini Owusu has said.

Speaking at the company’s 15th anniversary celebration in Accra, Mr. Owusu said improving macroeconomic conditions were strengthening investor sentiment and creating renewed momentum for property development, leasing and asset management activities.

“Ghana’s real estate sector is entering what analysts describe as its most favourable financing environment in a decade,” Mr. Owusu said, citing lower inflationary pressures and improving market stability as key drivers for the sector’s outlook.

The remarks come as property developers and investors seek to position for expected growth in commercial and residential real estate demand in 2026 following a prolonged period of macroeconomic instability, elevated borrowing costs and currency depreciation.

According to research cited by EPL, commercial properties in Ghana are projected to generate annual yields of between eight percent and 15 percent in 2026, while residential rental yields are expected to range between seven percent and 12 percent. Capital appreciation across property classes is forecast at between five percent and 10 percent.

The company also referenced market research showing property prices in prime locations rose between eight percent and 12 percent in 2025, with luxury apartments and gated communities recording the strongest appreciation.

Analysts expect prices in high-demand areas to rise by a further 10 percent to 15 percent in 2026, supported by economic recovery and foreign investor interest.

Mr. Owusu said demand fundamentals remained favourable, driven by rapid urbanisation, increased appetite for mixed-use developments and rising demand for professionally managed office and retail spaces.

He added that diaspora investment continued to play a significant role in the market, with overseas Ghanaians increasingly viewing real estate as a hedge against inflation and currency volatility.

EPL cited industry estimates indicating that about three million Ghanaians living abroad channel substantial investments into property, supported partly by foreign currency-denominated mortgage products.

The company also pointed to changing consumer preferences, including growing demand for energy-efficient buildings, smart-home technologies and sustainability-focused developments.

“Clients now expect more than just space. They expect performance,” Mr. Owusu said. “They expect professionally delivered real estate services that are standard practice in London, New York, Dubai, Singapore or Johannesburg.”

Against that backdrop, Enterprise Properties said it is positioning for expansion beyond Accra after spending the past 15 years operating primarily within the Enterprise Group ecosystem.

The company, which began with two employees in 2011 and now employs 29 staff, said it had expanded its services to the broader market over the past year, offering integrated property management, facilities management, leasing, project management and advisory services.

The Managing Director said the company intends to grow its footprint into Kumasi, Takoradi, Tema and other emerging urban centres where demand for institutional-grade real estate services remains underserved.

The expansion strategy will also leverage opportunities within Enterprise Group’s regional presence in Nigeria and The Gambia. “Our vision is clear, deliberate and forward-looking,” Mr. Owusu said, outlining a seven-pillar strategy anchored on trust, technology, growth, partnerships, people, operational excellence and sustainability.

As part of that strategy, EPL plans to invest in property management technology and data analytics platforms to improve operational efficiency and provide clients with real-time asset performance monitoring.

The company also signalled plans to deepen partnerships with developers, landlords, corporate occupiers and international investors seeking local operational support in Ghana’s property market.

Despite the improving outlook, Mr. Owusu acknowledged persistent structural challenges facing the sector, including high construction costs, infrastructure deficits, regulatory uncertainty and land title complexities.

He said currency volatility continues to affect dollar-denominated transactions, while the reintroduction of VAT on property transactions has increased pricing pressures in parts of the market.

Nonetheless, Mr. Owusu said the sector’s long-term fundamentals remain positive and that experienced operators are better positioned to navigate the risks.

“All these challenges are real,” he said. “But for a company like EPL that has spent 15 years navigating the complexities of this market, they are familiar challenges and familiar challenges can be managed.”

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