Tema is a coastal city located in the Greater Accra Region of Ghana. With a population of around 300,000 people, it is a major industrial hub and home to Ghana’s largest seaport.
Tema has experienced rapid urbanization and population growth over the past few decades.
The real estate market in Tema has also grown considerably during this time, driven by the city’s expanding economy and rising demand for housing.
Land prices are a key indicator of real estate market conditions in any city. In Tema, land prices directly impact housing affordability and accessibility for the growing population.
Understanding trends in land prices also provides insight into the health of Tema’s economy and real estate market.
This is important for policymakers, developers, and potential homebuyers or investors. Examining why land prices change over time can reveal demographic shifts, housing supply issues, and macroeconomic factors influencing the local market.
This article aims to provide a comprehensive overview of land prices in Tema. It will analyze historical price trends and discuss the current market situation.
The factors driving land valuation in Tema today will also be explored. For both current and prospective property owners in Tema, having a strong grasp of land prices is essential.
How Much Is A Plot Of Land In Tema?
The standard price for a plot of land in Tema is GHS 65,000. The most expensive land in Tema costs GHS 262,000, while the cheapest costs GHS 50,000. The location of the land will also determine the price.
This is because these towns are developed with many companies and people.
What Is The Size Of A Plot Of Land In Tema?
The size of a Plot of land in Tema is 100 x 80 feet or 90 x 80 feet. The measurement also depends on the town you want to buy the land from and how they sell each plot of land.
Towns In Tema And Their Land Prices
Here are all the towns in Tema and their land prices.
|Town||Price Of Land|
|Tema Community 23||GHS 43,000,000|
|Golf City||GHS 11,291,700|
|Tema Community 25||GHS 65, 000|
|Tema Community 24||GHS 338,751|
|Tema Community 6||GHS 2,163,569|
Factors Influencing Prices In Tema
Land prices in Tema are influenced by several key factors, including demand, supply, infrastructure development, location, and more.
Demand for land in Tema has been steadily rising over the past decade. As more companies establish operations in Tema due to its Free Trade Zone status, the need for industrial and commercial land increases.
Additionally, with Tema’s population growing rapidly, demand for residential land is also on the rise. This consistent demand pushes land prices upwards.
While demand is increasing, the supply of available land has not kept pace. Tema is bounded to the south by the Atlantic Ocean and to the north by the Akosombo Dam, limiting the amount of developable land.
No new land is being created, while demand continues rising, resulting in spiking land prices.
Recent investments in roads, power, and utilities have made land in certain areas of Tema much more desirable and valuable.
Locations near new highways, power plants, water treatment facilities, and other infrastructure now command higher prices. Improved infrastructure makes the land more usable.
Land prices can vary widely depending on the specific location within Tema. Land near the central business district, port, and industrial zones is far more expensive than land on the outskirts.
Proximity to essential services, amenities, jobs, and transportation raises prices.
The Cheapest Places To Buy Land In Tema
The cheapest places to buy land in Tema are Afienya and Community 6.
Although these towns are developed, so many lands are available for grabs, making them the cheapest places to buy land in Tema.
Things To Look Out For When Buying A Land In Tema
Before you buy a plot of land in Tema, you need to take some precautions to avoid getting scammed or losing your money.
Make Sure You Are Dealing With The Right Owner
If you see a piece of land in Tema and would like to purchase it, you will follow up and end up with one man who claims to be the land owner. What you have to do is to do your research before handing over the money.
The land could be family property, or he might not be the real owner. Doing background research will not cost you anything but will save you from throwing your money away.
Ask The Neighbours About The Land
If You decide to buy land in Tema, to avoid getting scammed, you will have to ask the neighbors if there is a dispute on the land or not.
The neighbors living in that area know more about the land, and they will be the ones to let you know more about the land.
They can even let you know if the seller is the right owner or not.
Check The Land Ownership At The Lands Commission
If you are finding it difficult to interact with the neighbors in the area, you can also visit the Ghana Land Commission office in Tema and then check out the owner of the land you are about to buy. Doing this will let you know whether you are dealing with the real owner of the land or not.
Land has always been an attractive investment in Ghana’s industrial and port city of Tema. With its strategic location and rapid development over the past few decades, Tema has seen steady population growth, leading to increasing demand for housing and commercial real estate.
While land prices in Tema have fluctuated over the years, the long-term trajectory remains upward as the city continues to expand.
Areas closest to the city center and port tend to have the highest values, while prices become more affordable further inland. However, even less central areas have appreciated significantly in value over time.
Key factors driving Tema’s land prices include population and economic growth, scarcity of land available for development, infrastructure improvements, and speculation by investors who anticipate future price increases.
As the city solidifies its position as Ghana’s main logistics and manufacturing hub, demand for both residential and commercial land is likely to remain strong.
In this article, you will also know the cheapest places to buy land in Tema.