3Invest is introducing to the Nigerian real estate investor market, the magnificent lakeside Riviera Residence. This development is a 78-unit mixed-use residential development consisting of studios, one, two and three Bedroom apartments and penthouses offering live and play leisure experience overlooking a man-made lake.
Developed by Lifestyle Property Development Company (LPD), the Riviera Residence offers good returns on investment. It is a unique mixed use residential development encompassing an all-inclusive city living lifestyle.
The LPD team has developed numerous residential projects in East Legon and more recently in North Ridge. LPD has also been responsible for a number of corporate interiors and retail shop fit-outs internationally and locally in Ghana, including at One Airport Square, Airport City, Accra.
Riviera Residence is Located in the thriving suburb of East Legon, offering investors a lifetime opportunity to invest in Accra most sought after real estate development with a yield of 10% to 12% at current market rates and guarantees strong rental demand.
Riviera residence boasts of the following features:
- Ample covered parking
- Landscaped private waterfront promenade
- 4 storey high infinity swimming pool
- Fitness Centre
- Secure and private children’s play area
- Internal piazza area with restaurants overlooking the lake
- Convenience shopping
- Backup water reservoir
- Backup generator
- 24-hour security
- Secure and private children’s play area.
Cash buyers defined as paying at least 80% during 24 month period from launch, will have to sign a reservation form and pay $4000. 14 days after signing the reservation form, the buyer is required to sign and return sales and purchase agreement and pay 20%. This category of buyers will have to pay 4 instalments of 15% every 4 months and on completion, the buyer pays 20% on completion.
Mortgage Buyers – Option 1
This option is not available to studio apartments, but available to other apartments available. For this payment plan, the buyer pays 15% 14 days after signing reservation form, sign and return Sales and Purchase Agreement. Thereafter, 15% is paid 6 Months after paying reservation form. The balance will be paid on completion by buyer’s mortgage provider.
Mortgage Buyers – Option 2
Offering the buyer a different payment plan apart from, this second payment plan demands that the buyer signs a reservation form for $4000, then proceed to pay 25% 14 days after signing the reservation form, sign and return Sales and Purchase Agreement form. The balance of payment will be paid by the mortgage provider.
Why invest in Accra?
Ghana’s political stability and strong economic growth resulting from oil production, mining and cocoa have boosted property construction activities. Despite recent economic challenges which have affected emerging markets in general,Ghana is unarguably one of the leading democracies in Africa over the past 20 years and increasingly viewed as the Gateway to West Africa. Although new sectors are still in their infancy (for example formal retail and manufacturing), there is visible observation of a widening economic base and a growing middle class.
On the Real estate market, there continues to be a shortage of good quality residential stock. A rebound in the economy over the next few years and natural structural drivers (youthful population and a developing mortgage sector) should set the foundation for a strong outlook for property demand. In its Africa Report 2015, UK-based property consultancy Knight Frank ranked the Ghanaian capital 10th in Africa for its prime rent ranking, which is calculated by a weighted aggregate of rents across the residential, office, retail and industrial segments.
Lifestyle Property Development Limited, developers of Riviera Residence, will be participating as exhibitors at the forthcoming Real Estate Unite 2016 – a yearly event that brings together industry leaders and professionals in real estate. The event is billed to hold at the Eko Hotel Lagos from 6-7 October 2016. At the event, the developers will be physically present to discuss investment opportunities with persons interested in the properties.
The Riviera Residence. Your access to lifestyle for value!
3Invest is the project marketing partner in Nigeria. For more information about Riviera Residence please contact us on 08099001100 or email [email protected]