High rental yields lure Nigerian investors to Accra’s property market

A combination of elevated rental yields and high capital appreciation is increasingly luring Nigerian savvy investors to Accra’s luxury property market.

The trend, which is fuelled by the growing number of international business executives and heads of diplomatic missions in Ghana all wanting to live in the country’s capital, has seen a large chunk of Nigerian real estate investors flood the Gold Coast in search of healthy returns.

With its welcoming beaches, gorgeous hinterland, rich culture, vibrant cities, diverse wildlife, easy transport, leading architecture and affable inhabitants, it is no wonder that more and more Nigerians are making the most of this Visa free hot spot.

Hailed as one of Africa’s great success stories, analysts say the country is also reaping the benefits of a stable democracy in the form of fast-paced development.

At the forefront of the country’s boom in high-end residential property is the Villaggio Vista, an imposing architectural masterpiece that easily catches the attention of any first-time visitor to the city.

The residential abode is developed by Ghana’s leading property developer, Trasacco Estate Development Co. (TEDC), with over $500 million investment in ongoing projects.

Nestled in the Airport Residential suburb of Accra, the three magnificent residential structures wrapped in a distinctive Kente inspired ‘skin’ makes this development impossible to miss and with one of the three towers (Alto) climbing over 24 floors, it boasts the title of West Africa’s tallest residential tower.

Residents of Villaggio Vista can enjoy the full range of a 5-star facilities, from 24/7 hour security to the breathtaking roof top swimming pools and sky gardens.

Commenting on the new trend, Adam Taylor, head of sales, Wrothams Windsor – Nigeria’s leading real estate advisory firm, agrees that for any businessmen seeking healthy returns on fertile grounds, Ghana has become a very attractive investment destination.

“The growing number of international CEOs and heads of diplomatic missions in Ghana all wanting to live in the capital is fuelling a growing number of savvy Nigerians to invest in Accra’s luxury real estate market,” Taylor says.

ODINAKA MBONU