The modern world has a lot of disdain for people who, rather than saving their monies in banks, choose to ‘bury it under their mattress’. However, we forget that the people who do this have had very good reason to distrust leaving their monies in traditional banks.
Passive income is the bedrock of wealth and most of the wealthy people in society today got there by creating multiple streams of passive income. In other words, letting your money work for you.
You should always be getting value for your money whether you are paying for a service or saving it in a bank that would definitely use it for business.
Over the last few years in Ghana, the average interest rate for a standard savings account has hovered between 5-7% per annum. So if you saved GHS 100,000 in a bank on the first day of the year, you would be making at most GHS 107,000 and this is without taking bank charges and inflation into account.
Its common practice among the financially literate and wealthy to buy a piece of land in an emerging area with the hopes of said land appreciating over-time, allowing them to make very high interest after selling the land usually within 2, 5 to 10 years. This is called Land Banking.
Land Banking is the practice of buying land as an investment, holding it for future use and making no specific plans for its development.
In Ghana, people tell stories about how the Adjiringanor neighbourhood of East Legon used to be just a massive virgin land and plots were very affordable. Today, Adjiringanor is a highbrow area and you would be lucky to find a piece of land to buy there. The same applies to other “highbrow” areas like Airport City, Cantonments and Osu.
The value of land will always appreciate because it is a finite resource which is essential for human development.
“The best time to plant a tree was 10 years ago. The next best time is now” – Chinese Proverb.
The need for land in Ghana will only continue to grow as the population continues to explode. Smart people are already invested in strategically-located lands and their money has started growing.
Cofundie is offering you a way to join these smart people and invest your money in land regardless of your income with The Wala Park Landbanking Project.
Wala Park is a new 76-acre residential neighbourhood by Appolonia Development Company Ltd (ADCL), the owner and developer of Appolonia City, in partnership with Chiefs, leaders and residents of the Appolonia Community.
Wala Park is located between Oyibi and Afienya, bordering Appolonia City, Greater Accra’s new city where more than 700 homes are already occupied or under development and schools and dozens of businesses are under construction.
Wala Park is situated 2.5km from current residential developments in Appolonia City, such as Nova Ridge, The Oxford and Bijou Homes.
Today, Wala Park is an empty plot of land within Appolonia City. However, within the next 5 years, families will move into the area; ADCL (Appolonia Development Company Limited) and the government of the Republic of Ghana will put in the infrastructure to support the growing population which will inevitably appreciate the value of the land.
Cofundie is offering you the opportunity to invest in land in Wala Park for a chance to enjoy the appreciation for as low as GHS 600.
How does it work?
A plot of land at Wala Park would cost you GHS 60,000.
Cofundie, however, has broken down that price into 100 slots of GHS 600 each. You can buy 1 Slot which equates to 1% of the property or you can buy the entire 100 Slots which equates to 100% of the property.
Cofundie will manage the property on your behalf while you can monitor progress on your Cofundie dashboard as well as through the periodic email updates we will send your way.
We project a 10% annual appreciation rate. There will be a 2-year minimum hold period after which you can either request to withdraw your funds or wait for the 5-year mark when the property will be automatically liquidated and funds (Capital + Return) distributed back to you.
After 5 years we expect that the property to hit a 50% appreciation.
It’s important to note that these are extremely conservative estimates as the average appreciation rate for Ghana, in general, is 7% while the average rate of appreciation for land within Appolonia City is 12-20% per annum over the last 5 years of its existence.
If the property appreciates higher than the projected 10% return, you will also enjoy that benefit.
You can now buy a small piece of landed property on Cofundie through our Walla Park Project.
Price per Slot: GHS 600
Hold Period: 2-5 years
Projected Return: 20-50%
This is a smart way to earn passive income through land.
If you have more questions or want to talk to a member of our team, call or send us a message on WhatsApp here; +233 24 014 3392