Buying property in Ghana may seem intimidating for those unfamiliar with the country. It can be hard to know where to start, what kind of property or price range will suit your needs, and how much you should expect to spend on lawyer's fees. To make it easier for you, this article will provide you with information about the different types of properties available, the cost of solicitor's fees in Ghana, and what a lawyer can do for you when buying property in Ghana. Read on if you're interested in learning more!
Most people purchase property in Ghana for residential purposes. There are many housing estates and apartments available, but the cost of solicitor's fees depends on the type of property you're interested in. For example, a house in a rural town may cost between $2,000 - $5,000 to buy outright. A three bedroom apartment in a major city may cost upwards of $20,000 to purchase.
In Ghana, there are two primary types of residential property: freeholds and leaseholds.
Freehold is a style of ownership where the buyer owns the land as well as the building on top of it. Leasehold, on the other hand, is the opposite—the owner does not own the land but only the building itself.
There are different costs for these two types of properties, with one being more expensive than the other. The cost will also vary depending on what type of location you're looking for; for example, a coastal property will cost more than an inland property.
Commercial real estate is the type of property that you're most likely to come across while living in Ghana. It's a valuable asset for any business, no matter what size. These properties can come in many different shapes and sizes, as there are some that have been converted into hotels, office spaces, and other commercial settings.
Commercial properties may be the best option if you want to lease your space to a company or if you need an office space for your own business. Commercial properties typically cost more than residential properties due to the overhead costs involved with running a commercial building.
Solicitor's fees in Ghana will depend on the type of property you are buying. For example, a single-family home in Accra can cost between $50,000 to $150,000; whereas, a 2-bedroom apartment in Tema starts at $20,000.
The average lawyer charges between £1,900 and £3,200 for the services they provide. However, this may vary depending on the lawyer and what services you require.
In Ghana, property is classified as either residential or commercial. Residential property can be purchased for between GH¢10,000 and GH¢35,000 depending on the size of the land. This includes a house and garden. Commercial properties are more expensive - ranging from GH¢50,000 to GH¢150,000. You'll need to pay solicitor's fees as well as two different types of taxes before you can purchase your property - a stamp duty of 1-3% and an acquisition tax (which varies depending on whether it's a commercial or residential property).
Lawyer's fees can vary depending on the type of property you purchase, the lawyer you employ, and how much time and expertise they're expected to put into your case. In general, solicitor's fees for a residential property purchase in Ghana are about GHS 2,000-5,000.
A lawyer is an essential component of the property buying process in Ghana. A solicitor is a person who advises and assists clients on legal matters. They usually specialise in a certain area, such as commercial law, criminal law, labour law etc., but also have experience working with property transactions.
A lawyer will be able to help you with all aspects of your property transaction, from negotiating the price to drafting the contract and preparing for any potential disputes that may arise. Your solicitor will make sure that you are protected and are aware of your rights at all stages of the process.
Buying property in Ghana can be an overwhelming experience. But don’t worry, with a little knowledge and help from the right lawyer, the experience can be a lot less intimidating.
Here’s what you need to know before committing to purchasing property in Ghana:
Types of properties in Ghana
- Residential properties
- Commercial Properties
Costs and pricing for solicitor's fees in Ghana
- What to expect?
- How much do I need to budget for lawyer's fees?
- What can a lawyer do for me when buying property in Ghana?
