Price of plot of land in Cantonments, Ghana
Cantonments is a town under Accra, Ghana, located in the southwestern part of Accra. It a residential place and known for its quiet and peaceful environment. It has several amenities which also makes it a good place of stay.
It is just a few minutes away from the central business district of Accra, making it a convenient location for business people and professionals who work in the city.
The area has quality, modern and well designed housing with several embassies and diplomatic offices because of its secure and peaceful environment with a reputation for safety and is one of the most secure areas in Accra.
This article will be talking about Cantonments, land prices, advantages and disadvantages of acquiring a land and factors that can increase the prices of land in Cantonments.
Price of a plot of land in Cantonments
There are over 100 lands for sale available in Cantonments. The average price is around GHS 14,000,000, while the cheapest land available starts at GHS 2,000,000 and the most expensive costs around GHS 54,000,000. The actual price of land can vary depending on several factors such as location, size, accessibility, and proximity to amenities.
Factors that affects the price of a plot of land in Cantonments
1. Location
Land located in prime areas with good infrastructure and amenities, such as proximity to schools, hospitals, and shopping centers, tends to be more expensive than land located in less developed areas.
2. Size of land
The size of the land can also have an impact on the price. Larger pieces of land are usually more expensive than smaller ones, as they offer more development options and potential for profit.
3. Topography of the land
Land that is suitable for building and development, such as flat or gently sloping land, can be more valuable than land with steep or rocky terrain.
4. Zoning regulations
The zoning regulations and land use restrictions in the area can also increase or decrease the land prices. If the land is zoned for residential use only, it may be more expensive than land zoned for commercial or industrial use.
5. Current state of the land
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The current state of the real estate market can also affect land prices. When demand is high and supply is low, land prices tend to increase. Prices may decrease during times of economic recession or market downturn.
Advantages of investing in a plot of land in Cantonments
- The real estate market in Cantonments is also stable, making it a safe investment option.
- Investing in lands in Cantonments can yield high returns in the long run because its a prime location in Ghana and has high demand for properties.
- Cantonments has good infrastructure, and several social amenities that make it an ideal location for both residential and commercial properties.
Disadvantages of investing in a plot of land in Cantonments
- Investing in land in Cantonments can be expensive, especially for prime locations. This can make it difficult for small investors to enter the market.
- The land acquisition process in Ghana can be lengthy and bureaucratic, which can delay the investment process.
- Landowners in Cantonments are responsible for maintaining their properties, which can be expensive. This includes security, landscaping, and other maintenance costs.
Conclusion
Cantonments is a great place to invest in the real estate market in Ghana as an investor. The area is in high demand, has a growing economy and its in a prime location which makes it safe and lucrative for investment. If you are planning to invest at Cantonments, conduct thorough research and make sure you are in a good position before making any investment decisions.
