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Hey Meek Mill, Here's How To Buy Property in Ghana
Tired of the American lifestyle, Philly rapper Meek Mill said he is currently looking to buy some properties in Ghana.
I want to buy a property in Ghana where do I start? A nice house ..I need to feel that experience With my family as another option in life! I don’t wanna dedicate my whole life to the American lifestyle I been living.. the odds are too stacked against us it feels like!— Meek Mill (@MeekMill) December 26, 2020
Ghana has been growing in popularity among African-Americans who are considering a “Blaxit.”
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In 2019, Ghana launched one of the biggest tourism campaigns on the continent known as “The Year of the Return” to mark the 400 years since the first slaves arrived in Jamestown, Virginia.
As a result, Ghana saw a more than 40% increase in the number of visitors. An estimated 1.5 million people visited Ghana in 2019 and more than $1 billion in revenue was poured into the economy.
Beyonce, Steve Harvey, Samuel L. Jackson, and Cardi B were just a few A-list celebrities that visited Ghana for the tourism campaign.
In July 2020, following months-long protests after the death of George Floyd, Ghana welcomed Black Americans seeking to get away from the racial injustice and social unrest.
So, how does an American go about obtaining property in this West African country?
Foreigners are not restricted from buying property in Ghana, however not all land is cannot be privately owned. For those interested in owning land, there is a caveat. According to Mobus Property Management, most land in Ghana is not privately owned. In fact, Ghana does not allow the outright purchase of land. One has to lease (or mortgage) for a certain amount of time. For foreigners, that can be up to 50 years.
If looking to purchase property, the safest and easiest way is to go through a reputable property developer or real estate agent. That means doing your research to see if they’re registered with the Ghana Real Estate Developer’s Association and looking up reviews to determine if they have a good reputation.
Although it’s important that you’re involved every step of the way, you’ll still want to obtain an independent property lawyer. Between the lawyer and real estate developer, they’ll be able to do a title search on the property to determine the true ownership, execute agreements, and in the lawyer’s case prepare a Deed of Conveyance, and registering the title at the Lands Commission Secretariat. There’s quite a bit that goes into land ownership and registration so having a knowledgeable real estate agent and lawyer working on your behalf is key. They will ensure that all processes were followed.
Most importantly, if you’re interested in buying property or land in Ghana, you’ll need to exercise a bit of patience. There are five procedures that go into registering property and the entire process takes anywhere from 48 – 382 days.