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The peri-urban area of Accra is experiencing a rapid transformation. A robust urban and agricultural land market has emerged, characterized by purchases, rapidly rising real land prices, and outsiders from Accra acquiring agricultural holdings for residential and commercial use. The fact that residences are being built, commercial firms are being established, and large firms are acquiring land for commercial interests attests to the ability of the customary system to enable transfers for productive activity. Nevertheless, limited or uncertain property rights increase investment costs and differential access to information in the land market affects equity. This paper seeks to better understand: (a) the land market in peri-urban Accra, (b) the process by which land held by indigenous communities is transferred to outsiders enabling the conversion of unoccupied or agricultural land into residential or commercial uses, and (c) the contradictions and frictions that exist at the interface of land transfers under customary and statutory systems. It further seeks to examine the possibility that uncertain property rights and high litigation costs are constraining commercial and agricultural investment, and to identify the economic and social factors that determine levels of premiums associated with transactions, and the duration of the customary allocation.
