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Property prices in Accra vary significantly based on location, property type, and market segment. In prime areas like Cantonments and Airport Residential, 2-bedroom apartments cost between $150,000-$300,000, while luxury villas can exceed $1,000,000. Suburban areas offer more affordable options starting from $70,000 for basic homes.
The Accra residential market has experienced strong growth over the past five years, with prime area prices increasing by 20-25%. Transaction costs add approximately 10-15% to the purchase price, and mortgage rates remain high at 18-35% annually for local currency loans.
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As of September 2025, Accra's property market shows strong price variations, with prime areas commanding $1,300-$2,000 per square meter while suburban areas start from around $800 per square meter.
The market continues to grow at 5-10% annually, driven by infrastructure development and increasing demand from both local and international buyers.
| Property Type | Price Range (USD) | Prime Locations |
|---|---|---|
| 2-Bedroom Apartment | $150,000 - $300,000 | Cantonments, Airport Residential |
| 3-Bedroom House | $450,000 - $600,000 | East Legon, Dzorwulu |
| Luxury Apartment | $250,000 - $400,000 | Labone, Spintex |
| Luxury Villa | $1,000,000+ | East Legon Hills, Airport Residential |
| Entry-Level Properties | $70,000 - $150,000 | Oyarifa, ACP-Pokuase |
| Mid-Range Properties | $200,000 - $350,000 | Dome, Adenta, Tema |
What are the current prices for different types of properties in Accra?
Property prices in Accra's residential market show significant variation based on property type and location as of September 2025.
Two-bedroom apartments in prime areas like Cantonments and Airport Residential range from $150,000 to $300,000. Three-bedroom houses in these same premium locations command between $450,000 and $600,000.
Luxury apartments in top neighborhoods cost between $250,000 and $400,000, while luxury villas start at $1,000,000 and can exceed $1,500,000 in the most exclusive areas. Entry-level properties in suburban and emerging districts range from $70,000 to $150,000, making them accessible to first-time buyers and investors seeking affordable options.
Mid-range properties in established but less central areas like Dome, Spintex, and Adenta typically cost between $200,000 and $350,000. These areas offer a good balance between price and amenities for both residents and investors.
The luxury segment has experienced the strongest growth, with prices increasing by over 25% in the past five years due to high demand from expatriates and wealthy locals.
How do property prices differ across Accra's neighborhoods and districts?
Accra's property market shows dramatic price variations across different neighborhoods, with premium areas commanding prices 2-4 times higher than emerging districts.
The most expensive neighborhoods include Cantonments, Airport Residential, Labone, East Legon, and Dzorwulu. These areas attract diplomats, wealthy locals, and expatriates, with properties often exceeding $2,000 per square meter. East Legon Hills represents the pinnacle of luxury, with some properties reaching $2,500 per square meter.
Budget-friendly areas include Oyarifa, Dome, ACP-Pokuase, Ashongman Estate, Amasaman, Adenta, and Kwabenya. Properties in these neighborhoods typically range from $800 to $1,200 per square meter, offering good value for money and strong potential for appreciation.
Up-and-coming neighborhoods like Tse Addo, Tema Community 25, and parts of Oyarifa show rapid infrastructure development and rising demand. These areas represent excellent opportunities for investors seeking growth potential, with prices currently ranging from $1,000 to $1,400 per square meter.
Spintex occupies a middle ground between prime and emerging areas, with properties averaging $1,400 to $1,700 per square meter due to its excellent road connectivity and proximity to the airport.
What is the typical cost per square meter for residential properties?
The cost per square meter in Accra varies significantly based on location and property quality, ranging from $800 in emerging areas to over $2,000 in prime neighborhoods.
Central Accra properties average between $1,300 and $1,600 per square meter, while top neighborhoods like Cantonments and Airport Residential can reach up to $2,000 per square meter or higher for luxury developments.
Suburban and emerging areas offer more affordable options, with prices typically ranging from $800 to $1,200 per square meter. Areas like Oyarifa, ACP-Pokuase, and Dome fall into this category, providing good value for first-time buyers and investors seeking rental yields.
Mid-tier neighborhoods such as Adenta, Tema Community 25, and parts of Spintex average between $1,200 and $1,600 per square meter. These areas offer a balance of affordability and amenities, making them popular with middle-income professionals and families.
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What is the total purchase price including all fees and closing costs?
The total cost of purchasing property in Accra extends well beyond the listed price, with additional fees and closing costs typically adding 10-15% to the final purchase amount.
| Fee Type | Percentage/Amount | Paid By |
|---|---|---|
| Stamp Duty | 0.25% - 1% | Buyer |
| VAT (New Developments) | 5% + 1% COVID levy | Buyer |
| Legal Fees | 1% - 3% | Buyer (negotiable) |
| Agent Commission | 3% - 5% | Seller (factored into price) |
| Registration & Search Fees | GHS 100 - 800 | Buyer |
| Property Valuation | $500 - $1,500 | Buyer |
| Survey Costs | $300 - $1,000 | Buyer |
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What are the main taxes and legal costs when buying property in Accra?
Property buyers in Accra face several taxes and legal costs that significantly impact the total investment required.
Stamp duty ranges from 0.25% to 1% of the property value and is paid by the buyer. For new developments, buyers must pay VAT at 5% plus an additional 1% COVID levy, which can substantially increase costs for newly constructed properties.
Legal fees typically range from 1% to 3% of the property value and are negotiable between the buyer and their legal representative. These fees cover title searches, contract preparation, and registration processes.
Annual property tax (rates) ranges from 0.5% to 3% of the government-assessed property value and must be paid yearly. Capital gains tax of 15% applies to profits when reselling property, though this can be reduced with proper tax planning.
Registration and search fees are relatively minimal at GHS 100-800 total, but buyers should also budget for property valuation costs ($500-$1,500) and survey expenses ($300-$1,000) depending on property complexity.
What mortgage options are available and what are typical monthly payments?
Mortgage financing in Accra remains challenging due to high interest rates and strict lending requirements, making cash purchases or external financing more attractive for many buyers.
Local cedi mortgages carry annual interest rates between 18% and 35%, with loan terms typically ranging from 10 to 20 years. Banks usually offer up to 90% loan-to-value ratios for qualified borrowers, though most require substantial down payments.
USD mortgages are available for diaspora buyers starting from 11.5% annually, though these rates remain high by international standards. Some specialized lenders offer slightly better terms for foreign currency earners or property investors with substantial assets.
For a $200,000 mortgage over 20 years at 18% interest, monthly payments would approximately $3,040. At 25% interest, the same loan would require monthly payments of about $4,223, making mortgage financing expensive compared to global standards.
Many successful property buyers in Accra use alternative financing strategies, including personal loans with shorter terms, partnerships with local investors, or external financing from international banks in their home countries.
What are example purchase prices for entry-level, mid-range, and luxury properties?
Accra's property market offers options across three distinct price segments, each serving different buyer profiles and investment strategies.
Entry-level properties range from $70,000 to $150,000 and are typically located in suburban or emerging areas like Oyarifa, ACP-Pokuase, and Ashongman Estate. These properties often include basic 2-3 bedroom houses or apartments with standard finishes, suitable for first-time buyers or investors seeking rental income.
Mid-range properties cost between $200,000 and $350,000, usually found in established neighborhoods like Dome, Spintex, and Adenta. These properties feature better construction quality, modern amenities, and good access to infrastructure, appealing to middle-income professionals and families.
Luxury properties start at $500,000 and can exceed $1,500,000, concentrated in prime areas like Airport Residential, Cantonments, and East Legon. These properties offer premium finishes, large compound sizes, swimming pools, and high-end security systems, targeting wealthy locals, expatriates, and investors seeking prestige assets.
The luxury segment shows the strongest price appreciation, with some properties gaining 25-30% in value over the past five years due to limited supply and strong demand from high-net-worth individuals.
Which areas are most expensive, budget-friendly, and up-and-coming?
Accra's real estate landscape clearly divides into distinct market segments based on price levels, infrastructure quality, and growth potential.
1. **Most Expensive Areas:** Cantonments, Airport Residential, East Legon, Labone, Dzorwulu, and East Legon Hills command premium prices due to excellent infrastructure, security, and proximity to business districts and international facilities.2. **Budget-Friendly Areas:** Oyarifa, Dome, ACP-Pokuase, Ashongman Estate, Amasaman, Adenta, and Kwabenya offer affordable entry points with good potential for appreciation as infrastructure develops.3. **Up-and-Coming Areas:** Tse Addo, Tema Community 25, parts of Oyarifa, and ACP-Pokuase show rapid development with new roads, utilities, and commercial facilities driving increased demand.4. **Emerging Investment Hotspots:** Areas along major highway corridors and near planned infrastructure projects offer excellent growth potential for patient investors willing to hold properties for 3-5 years.5. **Stable Mid-Tier Options:** Spintex, Adenta, and established parts of Tema provide balanced investment opportunities with steady rental demand and moderate appreciation potential.
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.
How have property prices in Accra changed over the past 1 and 5 years?
Accra's property market has demonstrated strong growth momentum over both short and medium-term periods, with particularly robust performance in prime and emerging areas.
Over the past year (2024-2025), property prices have increased by 5-10% across most segments, with prime areas and high-demand neighborhoods experiencing the upper end of this range. This growth reflects continued economic development, infrastructure improvements, and strong demand from both local and international buyers.
The five-year period shows more dramatic appreciation, with residential prices growing 20-25% in prime areas. Some neighborhoods have experienced nearly double this rate of growth, particularly those benefiting from new infrastructure projects or improved connectivity to business districts.
The luxury segment has outperformed the overall market, with prices increasing by more than 25% over five years due to limited supply and strong demand from expatriates, diplomats, and wealthy locals. This trend reflects Accra's growing status as a regional hub for business and international organizations.
Entry-level and mid-range properties have also appreciated significantly, though at more moderate rates of 15-20% over five years, making them attractive for investors seeking steady appreciation combined with rental income.
What is the forecast for property prices over the next 1, 5, and 10 years?
Property price forecasts for Accra remain optimistic based on fundamental economic and demographic trends, though investors should consider potential market corrections and external factors.
Over the next year, continued price growth of 5-10% is expected, particularly in top-end properties and fast-growing districts. This growth will be driven by ongoing infrastructure development, population growth, and sustained investment demand.
The five-year outlook projects strong upward trajectory in central Accra and up-and-coming suburbs due to infrastructure expansion, demographic pressures, and increasing investment from both domestic and international sources. Areas benefiting from new road networks, utilities, and commercial development should see above-average appreciation.
Ten-year projections suggest ongoing appreciation as Ghana's growing economy and demographic pressures continue to outpace supply. However, potential market corrections could occur if global economic conditions shift significantly or if local political or economic stability is affected.
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What are the smartest buying strategies based on your intended use?
Successful property investment in Accra requires different strategies depending on whether you plan to live in the property, rent it out, or resell for profit.
For personal residence, focus on structurally sound buildings in districts with long-term infrastructure investment such as East Legon, Spintex, Adenta, or Tema Community 25. Consider proximity to schools, healthcare, and business districts, along with reliable utilities and security.
Short-term rental strategies should target prime expat, NGO, and diplomat demand areas like Airport Residential and Cantonments. Look for apartments or houses with modern amenities, reliable internet, and proximity to international facilities, aiming for gross rental yields of 8-12%.
Long-term rental investments work well in emerging suburbs like Oyarifa, Pokuase, and Adenta where rental yields remain solid while properties appreciate steadily. These areas attract local professionals and families seeking affordable housing with good amenities.
Resale and appreciation strategies should focus on up-and-coming neighborhoods or unfinished/new developments with plans to hold for 3-5 years. Areas along planned infrastructure corridors or near new commercial developments offer the best potential for capital appreciation.
How do Accra property prices compare with other major African cities?
Accra's property market positions itself in the upper-middle range among major African cities, reflecting its status as a stable democracy with growing economic opportunities.
| City | Price per sqm (USD) | Market Characteristics |
|---|---|---|
| Accra | $1,300 - $2,000 | Stable growth, high rental yields |
| Lagos | $1,000 - $1,500 | High volume, volatile market |
| Nairobi | $1,100 - $1,800 | Mature market, moderate growth |
| Abidjan | $1,000 - $1,600 | Emerging recovery, infrastructure focus |
| Cape Town | $1,800 - $3,000 | Premium market, established infrastructure |
| Johannesburg | $1,200 - $2,200 | Mature market, currency volatility |
| Casablanca | $1,400 - $2,100 | Stable market, French influence |
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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.
Accra's property market offers diverse opportunities across different price segments, from entry-level properties starting at $70,000 to luxury villas exceeding $1,000,000.
With strong historical price growth of 20-25% over five years and continued infrastructure development, the market presents attractive prospects for both residents and investors willing to navigate high transaction costs and mortgage rates.
Sources
- The AfricanVestor - Accra Price Forecasts
- The AfricanVestor - Apartment Investment Accra Worth It
- Vaal - Ghana House Prices 2025
- Eden Heights - Guide to Buying a Home in Accra
- MyJoyOnline - Accra's Luxury Apartment Market Trends
- GhanaWeb - Accra's Luxury Market Outlook
- Pulse Ghana - Most Expensive Areas to Rent
- Landmark Homes - Emerging Neighbourhoods in Accra
- Pearson Properties - Fast Rising Real Estate Hotspots
- PropHunt Ghana - Closing Costs