Kotoka International Airport, currently the only international airport in Ghana, is the main gateway to the country. Basically, everyone from a different country entering Ghana by air goes through the Kotoka International Airport.
Most expats, foreign investors, business tycoons, and tourists in Ghana prefer to settle close to the Kotoka International Airport. This is mostly because they are not accustomed to the local way of life in Accra so they prefer to be close to areas where it is likely to meet others like them. Being close to the airport also gives the feeling of being close to home in the sense that they can easily catch a flight back home in case of emergencies.
This has opened doors for so many opportunities around the airport and has led to the development of many neighborhoods near the airport making them attractive for real estate investment.
In this article, OWNHM takes a look at the top 5 neighborhoods near Kotoka International Airport for real estate investment.
Notable Landmarks Close To Kotoka International Airport
Before we delve into the neighborhoods near the Kotoka international airport that will be good for real estate investment in Ghana, let’s quickly take a look at some of the places of convenience close to or in these neighborhoods.
Marina Mall
Marina Mall is a premier shopping center located in the Airport City neighborhood. The mall features a wide range of stores, restaurants, and entertainment options, making it a popular destination for locals and visitors alike. The Kotoka international airport can be seen right from the Marina Mall.
The African Regent Hotel
The African Regent Hotel is a luxury hotel located in the Airport Residential Area, just a short drive from the Kotoka international airport. The hotel features spacious rooms and suites, as well as a restaurant, bar, and swimming pool.
The University of Ghana Hospital
The University of Ghana Hospital is a leading medical facility located in Legon, which is a few kilometers from Kotoka international airport. The hospital offers a wide range of medical services, including emergency care, surgery, and specialized treatments.
Accra Mall
Accra Mall is a large shopping center located in the Tetteh Quarshie neighborhood, which is about 5 kilometers from the airport. The mall features over 70 stores, a cinema, and a food court, making it a popular destination for shopping and entertainment.
Labadi Beach Hotel
Labadi Beach Hotel is a luxury hotel located on Labadi Beach, which is about 5 kilometers from Kotoka international airport. The hotel features elegant rooms and suites, as well as a swimming pool, spa, and restaurants. It’s a popular destination for both business and leisure travelers.
Labadi Beach
Located just a few kilometers from Kotoka international airport, Labadi Beach is a popular tourist destination that features golden sands and crystal clear waters. The beach is a great place to relax, swim, and enjoy the local cuisine.
All of these convenient places located around the Kotoka International Airport make these neighborhoods worth considering for luxurious real estate investment.
Neighborhoods Near Kotoka International Airport for Real Estate Investment
Let’s now take a deeper look into neighborhoods near Kotoka international airport for real estate investment. What do these neighborhoods have to offer and what are the pros and cons of investing in such neighborhoods?
Airport City
Airport City is one of the most upscale neighborhoods in Accra, located just a few minutes away from Kotoka international airport. This neighborhood is home to many expatriates and high-net-worth individuals, making it a prime location for real estate investment.
The area is well-planned, with good road networks and access to all essential amenities, such as Marina Mall, and One Airport Square. Hotels like Accra Marriot Hotel, Ibis Styles Accra, and Holiday Inn Accra. Companies like Africa World Airlane and Vodafone Ghana.
Real estate properties in Airport City are highly sought after, with both rental and sale options available. Rental properties in the area can fetch high rental yields of about 8-12% per annum, making it an attractive option for real estate investors. The real estate market in the neighborhood has also been relatively stable in recent years, with a steady appreciation of property values.
One potential drawback of investing in Airport City is that the high demand for properties has led to higher property prices. This means that the initial investment required to acquire a property in this neighborhood can be quite high.
East Legon
East Legon is another popular neighborhood near the Kotaka International Airport, located in the eastern part of Accra. This neighborhood is also one of the most affluent in the city, with many high-end properties and amenities.
The area is home to international schools like Britsh International School, American International School, and Queens School, making it a popular location for families with children.
Real estate properties in East Legon are highly sought after, with good rental yields and potential for appreciation in property values. The neighborhood has a diverse range of properties, from apartments to estate houses to townhouses to detached houses, providing options for investors with different budgets.
One potential challenge for investing in East Legon is that the real estate market in the neighborhood can be highly competitive, with many buyers and sellers vying for properties. This can make it difficult to find good deals or negotiate favorable terms.
Cantonments
Cantonments is another affluent neighborhood near the Kotaka International Airport, located to the south of the airport. The neighborhood is well-planned, with good infrastructure and access to essential amenities. It is home to many embassies ( Mexico, Italy, the US, etc) and international organizations, making it a popular location for expatriates.
The real estate market in Cantonments is highly competitive, with high demand for properties driving up prices. However, the neighborhood offers good rental yields and the potential for appreciation in property values.
Properties in Cantonments are often spacious and well-designed, making them attractive to tenants and buyers. For instance, The Embassy Gardens is a well-structured community with amenities like gardens, swimming pools, spas, etc.
One potential drawback of investing in Cantonments is that the neighborhood attracts high-end and wealthy people which causes high demand for luxurious properties making most houses and apartments in Cantonments luxurious and expensive.
Labone
Labone is a residential neighborhood located to the west of the Kotaka International Airport, known for its leafy streets and tranquil environment. The neighborhood is popular among expatriates and middle-class Ghanaians, making it a prime location for real estate investment.
It is well-connected to the rest of the city, with good road networks and access to essential amenities like Bosphorus Restaurant & Café and Capitol Café & Restaurant.
Real estate properties in Labone are available at different price points, making it an attractive option for investors with different budgets. The neighborhood offers good rental yields and potential for appreciation in property values, with properties often fetching higher rents compared to other middle-class neighborhoods in the city.
One potential challenge of investing in Labone is that the real estate market in the neighborhood can be highly competitive because of its proximity to the Kotaka International Airport.
Roman Ridge
Roman Ridge is a well-established neighborhood located to the north of the Kotaka International Airport, known for its serene environment, leafy roads, and good infrastructure. The neighborhood is popular among expatriates and upper-middle-class Ghanaians, making it an attractive location for real estate investment.
Roman Ridge has proximity to good schools like The Roman Ridge School. It also has the Roman Ridge Shopping Arcade which is a big shopping center with restaurants, shops, showrooms, etc.
Real estate properties in Roman Ridge are available at different price points, making it an attractive option for investors with different budgets. The neighborhood offers good rental yields compared to some other neighborhoods in the city.
One potential challenge of investing in Roman Ridge is that the apartments and houses in the neighborhood are quite expensive.
Tips For Buying Property Near Kotoka International Airport
Buying property near Kotoka International Airport can be a smart investment, as the area continues to attract a growing number of expats, diplomats, and high-net-worth individuals. However, before making any investment decision, there are several important factors to consider.
Understand the Local Market
The first step in buying property near Kotoka International Airport is to understand the local market. This includes researching more on the neighborhoods mentioned and their amenities, as well as current property prices and trends. You can check out our real estate listings for sale on the OWNHM website for better insight into the prices of properties in such neighborhoods.
Determine Your Budget
Another important factor in buying property is determining your budget. Consider your financial situation and how much you can afford to invest. Keep in mind that buying property involves more than just the purchase price, but also includes other costs such as property taxes, maintenance, and potential renovations. So don’t budget for only the price of the property, factor in the other costs.
Consider Your Investment Goals
Before buying property, it’s important to consider your investment goals. Are you looking for a long-term investment or a property to flip for a quick profit? Do you plan to rent out the property for cash flow or use it as a vacation home? Understanding your goals can help you make a more informed decision when selecting a property.
Get a Professional Home Inspection
Once you have identified a potential property, it’s important to get a professional home inspection. This can help identify any potential issues or problems with the property, such as structural damage or plumbing issues. A professional inspection can also help you negotiate the price or ask for repairs before closing the deal.
Work with a Professional Real Estate Agent
Finally, working with a professional real estate agent can help you navigate the local market and make an informed decision. A local real estate agent like the ones we have listed on our website will have in-depth knowledge of the area and can provide valuable insights into property prices, market trends, and investment opportunities.
Conclusion
Investing in real estate near Kotoka International Airport can be a smart move, as the airport’s strategic location makes it a hub of economic activity in the region. The neighborhoods we’ve highlighted in this article offer good potential for rental yields of between 8-12% yearly and appreciation in property values, making them attractive options for real estate investors.
However, it’s important to note that investing in real estate comes with risks and challenges, such as market fluctuations, regulatory changes, and unforeseen expenses. It’s important to conduct thorough research and seek professional advice before making any investment decisions.
Overall, the neighborhoods near Kotoka International Airport offer good potential for real estate investment, and with careful planning and due diligence, investors can realize strong returns on their investments.
We recommend you read our guide on real estate investment in Ghana before you make a real estate investment decision.
If you are looking at investing in luxurious real estate in Ghana then neighborhoods around the Kotoka International Airport are worth considering since they offer high ROI and property appreciation.
