Maiden edition of Ghana-Diaspora Home Purchase Expo 2024 : All roads lead to British Council

All roads lead to the British Council Hall in Accra on Thursday and Friday December 12 and 13, 2024 from 12 noon to 6pm each day for the first-ever Ghana-Diaspora Home Purchase Expo 2024.

On theme, “Our homes, our investment, our heritage,” the expo seeks to expose to Ghanaians and other Blacks in the diaspora, who have plans to resettle or own properties in Ghana to interact with actors in the sector under one roof.

The event also seeks to showcase the different housing schemes and investment opportunities in the country.

Attendees

Participation, which would be in the form of a hybrid, would be both in-person and virtual via all the social media handles from the United Kingdom (UK), USA, Canada, Germany and Australia.  

The expo would be attended by Ghanaians and other Africans in the diaspora and local players in the real estate industry, financial institutions offering mortgage facilities, insurance companies and expert lawyers in property investment among other professional bodies in the sector.

With Nilex Properties as the headline sponsor, the expo would also attract officials from the National Fire Service, the Environmental Protection Agency (EPA) and tax experts.

Aside from the headline sponsor, other real estate developers would also be on hand to mount an exhibition of their estates ranging from high-rising luxury apartments, low cost houses, town houses among others.

Professional bodies

Speaking with journalists ahead of the event, the Lead Organiser of the expo Alex Osei-Owusu explained that participants would be taken through all the fine details one needed to know before owing a property in the real estate industry.

He said for instance that the fire service would use the opportunity to educate participants on what to do in the event of emergency in a high rising apartment.

“They will be taken through what to do in emergency situations and how the security service will do to ensure the safety of occupants.

“There will also be a legal expose from a law firm in terms of the implications of acquiring apartments for business and what you should do on the expiry of your ownership among others,” Mr Osei-Owusu explained.

On tax implications of buying a property, he added that tax experts would be on hand to take participants through expectations, particularly of the income to be generated.

He also explained in details why property owners must ensure that their properties were insured against any disasters or unfortunate happenings.

“Insurance is a big deal especially against all those natural disasters such as fire, floods, earthquake, collapse as well as burglaries among others,” he stressed.

Mr Osei-Owusu, who is also the Legal Director of HTS Constructions stressed on the nature of insurance policies to be taken to cover a property, explaining for instance that a property of an apartment in a 10-storey building, where the other apartments were not insured.

He was excited that even though the event was the maiden edition, the enthusiasm it had generated among the exhibitors and participants was impressive.

Buying not building

“With this being the maiden edition, the enthusiasm it has generated among the exhibitors and the participants is an indication that there is a huge market for the Ghanaians in the diaspora to partake in this investment model of owning property in Ghana,” he added.

Mr Osei-Owusu advised Ghanaians in the diaspora that the time, when they were advised to invest in building a house had long gone, the discussion now was that, “if you get money, buy an apartment or a house instead of building.”

Giving some of the disadvantages of investing in building a house, he explained that the dangers of multiple sale of lands, the activities of land guards, and even high risk of relatives squandering the money sent down was high.

Touching on the theme, Mr Osei-Owusu explained that it was particularly beneficial to other nationals purchasing apartments in Ghana.

“For the non-Ghanaians in the diaspora, owning part of a land or apartment in Ghana also has non-economy value in the fact that, now you have an address and so, now you belong to the motherland and you have your heritage.

“That is why we have the theme, ‘Our homes, our investment, our heritage,’” Mr Osei-Owusu further explained.

Standard apartments

For his part, the Managing Director of Nilex Properties Nilesh More gave the assurance that those from the diaspora were assured of apartments of same standard that could be found any part of the world.

He said the investors should get the same comfort in the apartments that they would purchase in Ghana as those they lived in Europe.

Mr More believed that under the expo, those in the diaspora were not just going to buy lands or apartments, “but that they are given the comfort regarding the legalities and all that investors faced.” 

He assured the investors that investment in apartment in Ghana was a good one because the returns were high, adding that, “when a person invest in one apartment, you get eight to 10 per cent returns.”