Authored by the expert who managed and guided the team behind the Ghana Property Pack
Yes, the analysis of Accra's property market is included in our pack
Property prices in Accra are firmly on an upward trajectory, with the market experiencing consistent growth of 5-10% annually as we reach mid-2025.
This sustained price appreciation is driven by a potent combination of rapid urbanization, a growing middle class, and robust foreign investment that continues to outpace the limited housing supply in Ghana's capital city. As of June 2025, prime neighborhoods like East Legon and Cantonments are seeing particularly strong price growth, with luxury apartments commanding premium values that reflect Accra's status as one of West Africa's most dynamic real estate markets.
If you want to go deeper, you can check our pack of documents related to the real estate market in Ghana, based on reliable facts and data, not opinions or rumors.
Property prices in Accra have increased by 5-8% year-on-year through 2024, with projections indicating a further 5-10% rise by the end of 2025.
Prime areas like East Legon, Cantonments, and Airport Residential are experiencing the fastest appreciation, while emerging neighborhoods such as Tema Community 25 and suburban areas near Accra offer strong investment potential with rental yields of 8-12%.
| Property Type | Current Price Range (USD) | 2025 Growth Forecast | Rental Yield |
|---|---|---|---|
| 2-Bedroom Apartment (Prime) | $150,000 - $300,000 | 8-10% | 8-11% |
| 3-Bedroom House (Prime) | $450,000 - $600,000 | 5-10% | 8-11% |
| Luxury Villas | $1 million+ | 10%+ | 9-12% |
| Suburban Entry-level | $70,000 - $150,000 | 5-8% | 7-9% |
| Emerging Neighborhoods | $150,000 - $350,000 | 7-10% | 8-10% |
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
What are the current average property prices in Accra as of June 2025?
Property prices in Accra have reached new heights as we enter mid-2025, reflecting the city's growing appeal to both local and international investors.
According to recent market data, a two-bedroom apartment in Accra currently ranges from $150,000 to $300,000, while three-bedroom houses in established neighborhoods typically command between $250,000 and $500,000. In prime locations such as East Legon, Cantonments, and Airport Residential Area, prices are significantly higher, with three-bedroom houses averaging $450,000 to $600,000 and high-end apartments priced at $250,000 to $400,000.
The luxury segment continues to thrive, with premium properties exceeding $1 million for those seeking the finest amenities and locations. This pricing structure reflects Accra's position as one of West Africa's most sought-after real estate markets, driven by its status as Ghana's capital and economic hub.
For buyers looking at more affordable options, emerging suburbs offer entry-level properties starting around $70,000, providing opportunities for first-time buyers and investors seeking higher growth potential. The average price per square meter in central Accra now stands at approximately $1,520, which represents significant value compared to other major African cities.
It's worth noting that most properties in prime areas are priced in US dollars, which provides some protection against local currency fluctuations but can create additional considerations for buyers using Ghana cedis.
How much have property prices increased in Accra during the past year?
The Accra property market has demonstrated remarkable resilience and growth over the past twelve months.
Property prices in Accra increased by 5-8% year-on-year through 2024, with two-bedroom apartments experiencing a particularly strong 8.2% year-on-year increase by late 2024. This growth pattern has continued into 2025, with current forecasts projecting a further 5-10% price increase over 2024 values, especially in prime and high-demand areas.
Looking at the longer-term perspective, prime residential property prices in Accra have risen by an impressive 20-25% over the past five years. For example, a three-bedroom house in East Legon, Cantonments, or Airport Residential that cost $360,000-$480,000 in 2020 is now valued at $450,000-$600,000 in 2025.
This sustained growth has been attributed to several factors including rapid urbanization, infrastructure improvements, and rising demand from both local buyers and foreign investors. The market has shown particular strength in the luxury apartment segment, where modern amenities and smart-home features have driven price appreciation beyond the city average.
It's something we explore in detail in our Ghana property pack, which provides comprehensive analysis of these price trends.
Which neighborhoods in Accra are experiencing the fastest price growth?
Certain neighborhoods in Accra are outperforming the broader market, offering exceptional opportunities for property investors and homebuyers.
East Legon continues to lead the pack as one of Accra's fastest-appreciating neighborhoods, driven by its vibrant atmosphere and appeal to young professionals. Cantonments and Airport Residential Area maintain their status as premium locations, with price appreciation exceeding the city average and, in some cases, achieving double-digit growth rates.
| Neighborhood | Price Growth Rate | Key Drivers | Typical Property Price |
|---|---|---|---|
| East Legon | 10-12% annually | Youthful vibe, modern amenities | $400,000-$600,000 |
| Cantonments | 8-10% annually | Prestige, diplomatic presence | $450,000-$700,000 |
| Airport Residential | 8-10% annually | Central location, expatriate demand | $500,000-$800,000 |
| Tema Community 25 | 7-10% annually | Emerging suburb, affordability | $150,000-$350,000 |
| Osu | 6-8% annually | Cultural hub, coastal proximity | $300,000-$500,000 |
| Spintex | 5-8% annually | Good connectivity, family-friendly | $200,000-$400,000 |
| Adenta | 5-7% annually | Affordable housing, growing infrastructure | $100,000-$250,000 |
Emerging suburbs like Tema Community 25 deserve special attention, as they're experiencing rapid development and offering excellent rental yields of 8-12% with occupancy rates of 90-95% for well-maintained properties. These areas represent the next wave of growth in Accra's property market.
The combination of strong rental demand, infrastructure development, and relatively affordable entry prices makes these emerging neighborhoods particularly attractive for investors seeking both capital appreciation and rental income.
What property types are seeing the biggest price surges in 2025?
The Accra property market in 2025 is witnessing differentiated growth across various property types, with certain segments significantly outperforming others.
Apartments and townhouses in prime areas are experiencing the sharpest price increases, particularly those featuring modern amenities and smart-home technologies. These properties are seeing annual appreciation rates of 8-10%, driven by demand from young professionals and tech-savvy buyers who value convenience and contemporary living.
Standalone luxury homes and villas in high-end neighborhoods are also appreciating rapidly, with some properties experiencing double-digit annual growth. This segment is primarily fueled by demand from expatriates, returning diaspora Ghanaians, and affluent local buyers seeking prestigious addresses.
The emerging trend of eco-friendly buildings with sustainable features is creating a new premium segment in the market. Properties with solar panels, rainwater harvesting systems, and energy-efficient designs are commanding 10-15% price premiums compared to conventional buildings.
In the affordable housing segment, well-located apartments in emerging neighborhoods are proving to be excellent investments, offering both strong capital appreciation of 7-10% annually and attractive rental yields. These properties benefit from Ghana's expanding middle class and ongoing urbanization.
Tech-enabled properties with features like smart security systems, automated climate control, and high-speed internet infrastructure are becoming increasingly standard in new developments, contributing to higher property values across all segments.
What are the property price forecasts for Accra through 2026?
Looking ahead, the Accra property market shows strong fundamentals that support continued price growth through 2026 and beyond.
Market analysts project that property prices in Accra will maintain an annual growth rate of 5-8% through 2026, with prime neighborhoods potentially experiencing double-digit annual growth. This means that a property worth $300,000 today could be valued at $330,000-$360,000 by the end of 2026.
The residential real estate sector is expected to maintain a steady annual growth rate of 3.4-5.8% through 2029, according to industry forecasts. However, certain segments and locations are likely to outperform these averages significantly.
Several factors support these optimistic projections. Ghana's economy is expected to grow at 5-6% annually through 2025-2026, driven by strong performance in oil, mining, and services sectors. This economic growth will translate into higher disposable incomes and increased demand for quality housing.
Infrastructure projects currently underway, including the Accra-Tema Motorway expansion and various urban development initiatives, are expected to unlock value in previously underserved areas. These improvements will create new investment hotspots and drive appreciation in surrounding neighborhoods.
Expert consensus suggests that Accra will remain Africa's third-fastest-growing real estate market after Nairobi and Lagos, with the market continuing to attract significant foreign investment and development activity.
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How has the 2025 cedi stabilization affected property prices?
The Ghana cedi's performance in 2025 has created an interesting dynamic in the property market that buyers and investors need to understand.
After experiencing high volatility in late 2024 with up to 19.2% depreciation against the US dollar, the cedi stabilized in early 2025 and actually appreciated by 16% against the USD by May 2025. This currency strengthening has had several impacts on the property market.
For properties priced in US dollars (which includes most prime real estate in Accra), the cedi's appreciation has effectively made these properties more affordable for local buyers earning in cedis. This has prompted some discussions about potential price adjustments in cedi terms, though USD prices have remained relatively stable.
The currency stabilization has reduced one source of uncertainty in the market, encouraging more local buyers to enter the market. Foreign investors, particularly those from the diaspora who receive remittances in foreign currency, continue to find Ghana property attractive despite the currency movements.
However, most developers and sellers in prime areas continue to price in USD to hedge against future currency fluctuations, maintaining price stability in dollar terms while creating opportunities for cedi-based buyers when the local currency strengthens.
Overall, the currency volatility has created some uncertainty but hasn't significantly dampened demand in prime, USD-priced segments of the market.
Are rising building material costs pushing property prices higher?
Construction costs in Ghana have become a significant factor driving property price increases in 2025.
Building material prices have risen sharply due to inflation, high energy costs, and Ghana's dependence on imported construction materials. Ghana's construction costs are now among the highest in Africa, with materials 27% more expensive than in Lagos and labor costs the highest among benchmarked African cities.
These increased costs are being passed directly to buyers, contributing substantially to the ongoing upward trend in property prices. Developers face a challenging environment where they must balance quality expectations with cost pressures, often resulting in higher final prices for new developments.
The impact is particularly pronounced in the luxury segment, where buyers expect high-quality imported finishes and materials. Properties with premium specifications are seeing price increases of 10-15% above standard constructions due to these material cost pressures.
Some developers are responding by exploring local alternatives and more efficient construction methods, but the overall trend remains upward. This cost pressure is expected to continue through 2025 and beyond, supporting sustained price growth in the market.
For buyers, this means that purchasing sooner rather than later could result in significant savings, as construction costs show no signs of decreasing in the near term.
Which areas offer the best investment returns in mid-2025?
As we reach mid-2025, certain areas in Accra are standing out as exceptional investment opportunities based on rental yields and capital appreciation potential.
Prime neighborhoods continue to offer the most reliable returns, with East Legon, Cantonments, and Airport Residential Area delivering gross rental yields of 8-11% annually. When combined with capital appreciation of 8-10% per year, total returns in these areas can reach 15-20% annually.
| Investment Zone | Entry Price Range | Rental Yield | Capital Growth | Total Return Potential |
|---|---|---|---|---|
| Prime Central (East Legon, Cantonments) | $250,000-$600,000 | 8-11% | 8-10% | 16-21% |
| Emerging Suburbs (Tema Community 25) | $150,000-$350,000 | 8-12% | 7-10% | 15-22% |
| Mid-Market (Spintex, Adenta) | $100,000-$300,000 | 7-9% | 5-8% | 12-17% |
| Luxury Segment | $1 million+ | 9-12% | 10%+ | 19-22%+ |
Emerging neighborhoods deserve special attention from investors. Areas like Tema Community 25 are experiencing rapid development with occupancy rates exceeding 90% for quality properties. These locations offer the dual benefit of lower entry prices and higher growth potential.
The luxury apartment segment in established neighborhoods continues to attract strong demand from expatriates and diaspora Ghanaians, ensuring consistent rental income and appreciation. Smart home features and sustainable building practices are becoming key differentiators that command premium rents.
It's detailed in our Ghana property pack, which includes specific neighborhood analysis and investment strategies.
We made this infographic to show you how property prices in Ghana compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It's an easy way to spot where you might get the best value for your money. We hope you like it.
How is foreign investment impacting Accra property prices?
Foreign investment continues to be a major driver of Accra's property market growth in 2025.
Foreign direct investment in Accra's real estate remains robust, with international investors funding high-profile projects in Airport Residential, East Legon, and other prime areas. This influx of capital has increased supply in the luxury segment while simultaneously driving up land values and development standards.
The diaspora community plays a particularly important role, with Ghana receiving approximately $4.6 billion in remittances in 2023 (the second-highest in Africa). Much of this capital flows into real estate, as Ghanaians abroad seek to maintain connections to their homeland through property ownership.
International developers have raised the bar for quality and amenities, introducing world-class features that were previously unavailable in the Ghanaian market. This has created a ripple effect, with local developers upgrading their offerings to remain competitive.
The presence of foreign investment has also improved market liquidity and professionalism. International standards for property management, construction quality, and customer service are becoming more common, benefiting all market participants.
While some worry about foreign investment pricing out local buyers, the overall impact has been positive, creating jobs, improving standards, and attracting more development to previously underserved areas.
What makes Accra's property market attractive compared to other African cities?
Accra's property market offers a compelling investment case when compared to other major African cities.
In terms of pricing, Accra sits in a sweet spot - generally lower than Lagos but higher than Abidjan for prime properties. A prime three-bedroom house in Accra ($450,000-$600,000) costs less than a comparable property in Lagos's Ikoyi or Victoria Island ($500,000-$800,000) but more than in Abidjan's Cocody ($350,000-$500,000).
What sets Accra apart is its combination of competitive prices and exceptional rental yields. With gross yields of 8-11%, Accra offers among the highest returns in Africa, outperforming many developed markets where yields typically range from 3-6%.
Ghana's political stability provides a significant advantage over many other African markets. The country's democratic tradition and peaceful transitions of power create a secure environment for long-term property investment.
The market's growth trajectory is also impressive. Accra has emerged as Africa's third-fastest-growing real estate market after Nairobi and Lagos, but with less volatility and more sustainable fundamentals than some of its peers.
For international investors, Ghana's relatively straightforward property ownership laws and improving infrastructure make it an accessible market compared to countries with more restrictive foreign ownership regulations.
How are tech and sustainability trends affecting property values?
The integration of technology and sustainability features is creating a new premium segment in Accra's property market.
Smart home technologies have moved from luxury to necessity in 2025, with properties featuring automated security systems, voice-controlled devices, and remote monitoring commanding 10-15% price premiums. Buyers, especially young professionals and tech workers, actively seek these features.
Sustainability is no longer just a buzzword but a value driver. Properties with solar panels, energy-efficient designs, and rainwater harvesting systems are attracting environmentally conscious buyers willing to pay premium prices for lower operating costs and reduced environmental impact.
Developers are responding to this demand by incorporating these features as standard in new projects. Properties without these modern amenities are beginning to face a value discount, creating a clear divide between "old" and "new" generation properties.
The trend extends beyond individual units to entire developments. Gated communities with EV charging stations, smart waste management systems, and renewable energy infrastructure are setting new standards for residential living in Accra.
This technological evolution in our Ghana property pack represents both an opportunity for early adopters and a challenge for owners of older properties who may need to upgrade to maintain value.
Will Accra property prices continue rising through 2030?
The long-term outlook for Accra's property market remains overwhelmingly positive based on fundamental drivers that show no signs of weakening.
Real estate experts predict continued growth through 2030, driven by urbanization and population growth that will see thousands moving to Accra annually for economic opportunities. The expanding middle class will continue to increase demand for quality housing, pushing prices higher, especially in mid- to high-end segments.
Infrastructure upgrades currently underway and planned for the coming years will unlock value in new areas and improve connectivity to existing neighborhoods. Projects like the Accra-Kumasi high-speed railway and port expansions will create new growth corridors.
Ghana's economy is projected to maintain steady growth, with GDP expansion of 5-6% annually supporting rising incomes and property demand. The country's position as a stable democracy in West Africa continues to attract foreign investment.
By 2030, smart home technology and sustainable building practices are expected to become standard rather than premium features, further increasing property values in developments that embrace these trends early.
The market is forecast to remain Africa's third-fastest-growing, maintaining its position as a top destination for both regional and international property investment.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
As we reach mid-2025, the evidence is clear: property prices in Accra are definitively going up, with growth rates of 5-10% annually showing no signs of slowing down.
The combination of rapid urbanization, expanding middle class, robust foreign investment, and limited supply in prime areas creates a powerful cocktail driving sustained price appreciation. Whether you're looking at luxury properties in East Legon or emerging opportunities in suburbs like Tema Community 25, the market offers compelling investment prospects with rental yields of 8-12% adding to the attraction. Yes, property prices in Accra are going up.
Sources
- The Africanvestor - Accra Price Forecasts 2025
- The Africanvestor - Ghana Real Estate Market Statistics
- MyJoyOnline - Accra Luxury Apartment Market 2025
- Estate Intel - African Cities Real Estate Investment 2025
- Landmark Homes - Ghana Real Estate Market Trends 2025
- The Africanvestor - Accra Property Investment Guide
- The Africanvestor - Accra Real Estate Market Analysis
- Ghana Property Centre - Average Property Prices