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Everything you need to know before buying real estate is included in our Ghana Property Pack
Ghana's property market in 2025 shows distinct price variations across regions, with prime Accra commanding $1,500-2,000 per square meter while emerging areas offer opportunities at significantly lower rates.
Property prices differ substantially between luxury apartments in Cantonments averaging $250,000-400,000 and affordable housing in Kumasi starting around $80,000. The market continues to grow with 8-12% annual appreciation in prime locations, supported by urbanization trends and infrastructure development across major cities.
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 Ghana range from $1,500-2,000 per square meter in prime Accra locations to $100-765 per square meter in emerging areas and Kumasi.
Total buying costs including taxes and fees add 2-7% to purchase prices, while rental yields offer 8-12% gross returns in top locations.
| Location | Property Type | Price Range (USD) |
|---|---|---|
| Cantonments/East Legon | Luxury Apartment | $250,000 - $400,000 |
| Central Accra | Standard Apartment | $1,300 - $1,600 per m² |
| Kumasi Premium Areas | 3-bed House | $180,000 - $250,000 |
| Kumasi Land | Premium Land | $765 per m² |
| Emerging Areas | Entry-level Properties | $53,000 - $80,000 |
| Adenta/Madina | Mid-range Apartments | $137,000 - $188,000 |
| National Average | All Property Types | $110,000 |
What's the current average price per square meter in Ghana?
Property prices per square meter in Ghana vary significantly based on location and property type as of September 2025.
In central Accra, apartments cost around $1,300 per square meter, while prime areas like Cantonments command $1,500-2,000 per square meter. Luxury apartments in these premium locations can exceed $2,000 per square meter.
Outside Accra, prices drop considerably. In Kumasi, premium land sells for $765 per square meter, mid-tier areas average $200 per square meter, and affordable locations start at $100 per square meter. The Airport Residential Area in Accra ranges from $1,400-1,800 per square meter, while East Legon averages $1,200-1,500 per square meter.
Ridge area offers more affordable options at $900-1,200 per square meter, making it accessible for buyers seeking central Accra locations without premium pricing. Emerging districts like Adenta maintain competitive rates around $1,500 per square meter.
These prices reflect the current market dynamics where prime Accra locations continue to attract premium pricing due to infrastructure, amenities, and investment demand.
How do prices differ between property types like apartments, houses, and land?
Property types in Ghana show distinct pricing structures across different categories and locations.
Apartments in prime Accra areas range from $250,000-400,000 for luxury units, while standard 2-bedroom apartments start around $39,000 (₵500,000). Entry to mid-level apartments typically cost less per unit but maintain high per-square-meter rates in central locations.
Houses command premium pricing, with 3-bedroom houses in East Legon and Cantonments ranging from $450,000-600,000. In Kumasi, similar properties cost significantly less at $180,000-250,000, representing substantial savings for buyers considering secondary cities.
Land prices vary dramatically by location and classification. Premium land in prime Accra locations costs $1,500-2,000 per square meter, while Kumasi premium land averages $765 per square meter. Entry-level land in Kumasi outskirts starts at $100 per square meter, offering opportunities for budget-conscious buyers or those planning future development.
Luxury apartments and premium land command the highest rates per square meter, while houses offer better value for buyers seeking immediate move-in options with established infrastructure and utilities.
What are the average purchase prices by region or neighborhood across Ghana?
| Region/District | Average Price (USD) | Price Range |
|---|---|---|
| East Legon, Accra | $213,000 | Premium residential area |
| Spintex, Accra | $210,750 | High-end development zone |
| Tema | $195,000 | Industrial and residential hub |
| Adenta Municipal | $188,000 | Emerging residential area |
| Madina Municipal | $137,800 | Mid-range suburban location |
| Accra Metro | $82,800 | Central city various zones |
| Kumasi (Nhyiaeso/Ahodwo) | $60,000 | Premium Kumasi districts |
| Central Region | $53,200 | Regional average |
It's something we develop in our Ghana property pack.
Which areas are considered the most expensive, which are budget friendly, and which are up-and-coming?
Ghana's property market divides into distinct price categories based on location, infrastructure, and development status.
The most expensive areas center around prime Accra locations including Cantonments, East Legon, and Airport Residential Area. These neighborhoods command premium prices due to established infrastructure, proximity to business districts, international schools, and diplomatic facilities. Properties in these areas represent the top tier of Ghana's real estate market.
Budget-friendly options exist in areas like Adenta, Madina, Kumasi, Sekondi-Takoradi in the Western region, Kasoa, and Ashaiman. These locations offer significant cost savings while still providing essential amenities and transportation links to major employment centers.
Up-and-coming areas show strong growth potential and include Kasoa, Ashaiman, Ejisu near Kumasi, Tema Community 25, and Sekondi. These areas benefit from ongoing infrastructure development, proximity to expanding economic zones, and government investment in transportation and utilities. Buyers in these locations often see substantial appreciation as development accelerates.
Western region locations like Sekondi-Takoradi offer opportunities linked to oil and gas industry expansion, while Tema benefits from port activities and industrial growth.
Can you give example purchase prices for typical properties in different areas?
Specific property examples across Ghana demonstrate the wide price range available to buyers in different locations.
In East Legon, Accra, 3-bedroom houses cost $450,000-600,000, while luxury apartments range from $250,000-400,000. These properties typically feature modern amenities, security systems, and proximity to international facilities.
Kumasi offers more affordable alternatives with 3-bedroom houses priced at $180,000-250,000 and typical houses averaging around $80,000 (GHS 1.2 million). Premium land in Kumasi Ridge area costs $765 per square meter, significantly lower than Accra equivalents.
Adenta presents middle-ground options with apartments averaging $1,500 per square meter, offering lower per-unit costs compared to central Accra while maintaining reasonable access to the capital's amenities and employment opportunities.
Entry-level properties in emerging areas start around $53,000-80,000, providing accessible options for first-time buyers or investors seeking rental income opportunities. These properties often require some renovation but offer substantial upside potential as areas develop.
Commercial properties command higher prices but offer stronger rental yields, typically requiring $200,000+ initial investment in prime locations.
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How do prices change depending on the size or surface area of the property?
Property size significantly impacts both total cost and per-square-meter pricing in Ghana's real estate market.
Larger houses typically cost $100,000-150,000 more than smaller alternatives in prime areas. For example, 3-bedroom houses command premium prices over 2-bedroom units, but the price-per-square-meter advantage often favors larger properties in established neighborhoods.
In premium areas like East Legon and Cantonments, price per square meter remains consistently high regardless of property size due to land scarcity and high demand. However, larger properties in these areas often provide better long-term value and rental income potential.
Outlying and emerging neighborhoods show more favorable per-square-meter pricing for larger properties. Buyers can achieve significant cost savings by purchasing larger plots or houses in developing areas like Kasoa or Ashaiman while benefiting from future appreciation.
Luxury apartments and premium land maintain the highest per-square-meter rates regardless of size, reflecting their scarcity and demand from high-net-worth buyers and investors. Smaller luxury units often command premium per-square-meter pricing due to accessibility for more buyers.
Land purchases offer the most flexibility for size-based savings, with bulk purchases in emerging areas providing substantial per-square-meter discounts compared to smaller premium plots.
What's the total cost of buying, including fees, taxes, and additional expenses?
| Fee/Tax Type | Rate/Amount | Notes |
|---|---|---|
| Property Rate (Annual) | 0.5%-3% of assessed value | Paid to local assembly, varies by area |
| Stamp Duty | 0.25%-1% of property value | Paid by buyer during purchase |
| VAT on New Properties | 5% + 1% COVID levy | Applies to developer properties |
| Legal Fees | 1-3% of property value | Negotiable with attorney |
| Registration/Search Fees | GHS 100-500 | Minor administrative costs |
| Capital Gains Tax | 15% of profit | Applied when selling property |
| Rental Income Tax | 8% residents/15% non-residents | Quarterly on rental income |
It's something we develop in our Ghana property pack.
How do mortgage rates and financing options affect the overall cost of buying in Ghana?
Ghana's mortgage market presents significant challenges due to high interest rates as of September 2025.
The Ghana Reference Rate stands at 19.7% in August 2025, while the policy rate recently decreased to 25% with expected further reductions. Commercial bank lending rates historically approached 30% in 2023 but are trending downward following policy rate adjustments.
High interest rates severely limit affordability for most buyers, making cash purchases dominant in prime areas. A $200,000 property with traditional financing could cost buyers significantly more over the loan term compared to cash purchases, often doubling the effective purchase price.
Relief appears on the horizon as the Ghana Association of Banks announced expected lending rate decreases from August 2025. This trend should improve mortgage accessibility and increase the pool of qualified buyers in coming months.
Current market conditions favor cash buyers who can negotiate better prices and avoid interest costs. Buyers requiring financing should consider larger down payments to minimize interest exposure and wait for continued rate decreases before committing to major purchases.
Alternative financing options include developer financing programs and gradual payment plans, which sometimes offer more favorable terms than traditional bank mortgages for new construction projects.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Ghana versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What are the best options if you want to live there, rent out short term, rent out long term, or buy to resell later?
Ghana offers distinct advantages for different property investment strategies depending on buyer objectives.
For owner-occupiers planning to live in Ghana, purchasing provides stability and potential exemptions on certain fees. Prime Accra locations offer the best lifestyle amenities, international schools, and business proximity, while Kumasi provides affordable alternatives with good quality of life.
Short-term rental strategies work exceptionally well in Ghana, with Airbnb properties earning median rates of $77 per night and $748 per month. Top-performing properties generate over $2,200 monthly, while prime Accra short-term rentals achieve 8-11% gross yields. Tourist areas and business districts provide the strongest short-term rental demand.
Long-term rental investments offer gross yields of 8-12% in top areas, with net yields of 6-9% after expenses. These investments provide steady income streams and work well in both prime and emerging areas as Ghana's growing economy drives rental demand.
Buy-to-resell strategies benefit from Ghana's strong capital appreciation, with annual growth of 8-12% in recent years. Prime districts show 20-25% appreciation since 2020, while Kumasi achieved 15-20% growth and Takoradi gained 12-18%. Commercial investments offer yields of 10-15% but require higher initial capital.
How have property prices changed compared with one year ago and five years ago?
Ghana's property market demonstrates consistent upward price movement over both short and medium-term periods.
Comparing 2025 to 2024, residential prices increased 8-12% nationwide, with major cities experiencing 7% year-over-year growth. This growth reflects continued urbanization, infrastructure development, and economic stability supporting property demand across key markets.
The five-year comparison from 2020 to 2025 shows substantial appreciation across all major markets. Prime Accra locations achieved 20-25% price growth, demonstrating the strength of established premium areas. Kumasi gained 15-20% over the same period, while Takoradi experienced 12-18% growth linked to oil and gas sector expansion.
These appreciation rates significantly outpaced inflation and provided strong returns for property owners and investors. The consistent growth pattern indicates market maturity and fundamental demand drivers supporting continued price increases.
Regional variations reflect different economic drivers, with Accra benefiting from business and diplomatic activity, Kumasi from agricultural and manufacturing growth, and Takoradi from energy sector development. All markets show positive momentum entering 2025.
The growth trajectory suggests property investment in Ghana has provided substantial wealth building opportunities for both domestic and international buyers over recent years.
What are the forecasts for property prices in the next 1 year, 5 years, and 10 years?
Ghana's property market outlook remains positive across all forecast timeframes based on fundamental economic and demographic drivers.
The 2026 forecast projects 5-10% annual growth driven by continued urbanization and infrastructure expansion. Lower interest rates expected throughout 2025-2026 should increase buyer accessibility and support demand growth across all market segments.
The five-year outlook through 2030 anticipates continued appreciation if economic stability persists. Ongoing supply shortages, population growth, and infrastructure investment provide strong fundamentals supporting sustained price growth. Government initiatives in housing and urban development should boost both supply and demand.
The ten-year forecast projects substantial transformation as Ghana's urban population reaches 65%+ by 2035. This demographic shift creates sustained demand for housing in major cities, supporting continued price appreciation and investment opportunities.
Infrastructure projects including roads, utilities, and transportation systems will create new premium areas and support price growth in currently emerging neighborhoods. The planned expansion of industrial zones and special economic areas should drive employment growth and housing demand.
It's something we develop in our Ghana property pack.
How do property prices in Ghana compare with other big, similar cities internationally?
Ghana's property prices position the country competitively within West Africa and broader emerging market contexts.
Prime Accra apartments at $1,500-2,000 per square meter cost less than luxury Lagos properties exceeding $2,500 per square meter, making Ghana attractive for investors seeking West African exposure at lower entry costs. This pricing advantage provides opportunities for both regional and international buyers.
However, Ghana shows higher prices than most other West African markets, reflecting its economic stability, democratic institutions, and established legal framework for property ownership. These factors justify premium pricing compared to less stable regional markets.
Building costs present challenges, with materials 27% higher than Lagos and labor costs topping benchmark cities across Africa. These higher construction costs support property values but also create barriers to new supply, maintaining price pressure in established markets.
Compared to other emerging markets globally, Ghana offers competitive entry points for international investors seeking exposure to African growth while maintaining reasonable pricing relative to income levels and rental yields. The combination of political stability and economic growth prospects makes Ghana attractive despite higher regional pricing.
Currency considerations and exchange rate stability add appeal for international buyers seeking stable asset backing in local currency with potential for appreciation in both local and international terms.
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.
Ghana's property market offers diverse opportunities across price ranges, from premium Accra locations to emerging areas with strong growth potential.
Buyers should consider total costs including fees and taxes, financing challenges from high interest rates, and choose strategies aligned with their investment objectives and risk tolerance.
Sources
- Vaal Real Estate - Ghana House Prices 2025
- Quao Realty - Building vs Buying Analysis 2025
- The African Vestor - Apartment Investment Accra
- MyJoy Online - Accra Luxury Apartment Market
- The African Vestor - Kumasi Price Forecasts
- The African Vestor - Ghana Price Forecasts
- Vaal Real Estate - Property Market Analysis
- Ghana Property Centre - Market Trends
- The African Vestor - Ghana Property Taxes
- Bank of Ghana - Interest Rates