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Everything you need to know before buying real estate is included in our Ghana Property Pack
Ghana's rental market in 2025 shows significant variations across cities, with Accra leading at average monthly rents of GHS10,100 for one-bedroom apartments in the city center.
Understanding rental costs in Ghana is crucial for investors and residents, as prices vary dramatically between premium neighborhoods in Accra and smaller cities like Tamale, with rental yields ranging from 7% to 10% annually for prime properties.
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.
Accra dominates Ghana's rental market with one-bedroom apartments averaging GHS10,100 monthly in the city center, while other major cities like Kumasi and Takoradi offer significantly lower rates between GHS1,500-GHS5,000.
Premium neighborhoods in Accra such as Cantonments and East Legon command rents between GHS15,000-GHS25,000 monthly, delivering rental yields of 8-10% annually for property investors.
| City | 1-Bedroom City Center (GHS) | 3-Bedroom City Center (GHS) | Average Rental Yield (%) |
|---|---|---|---|
| Accra | 10,100 | 17,500 | 8-10% |
| Kumasi | 2,500 | 5,000 | 7-9% |
| Takoradi | 2,500 | 4,500 | 10-12% |
| Cape Coast | 2,000 | 3,500 | 8-9% |
| Tamale | 1,500 | 2,500 | 9-11% |
What's the average monthly rent right now in the main cities across Ghana?
As of September 2025, Accra leads Ghana's rental market with the highest prices across all property types.
In Accra's city center, one-bedroom apartments average GHS10,100 monthly (approximately $860), while three-bedroom apartments command around GHS17,500 monthly (approximately $1,500). Outside the city center, prices drop significantly to GHS1,700-GHS5,100 for similar properties.
Kumasi offers more affordable options with one-bedroom apartments in central areas averaging GHS1,500-GHS3,500 monthly, and three-bedroom apartments around GHS5,000 monthly. Takoradi follows similar pricing with one-bedroom apartments ranging GHS2,000-GHS4,500 monthly.
Smaller cities provide even lower rental costs, with Cape Coast ranging GHS1,000-GHS3,500 monthly and Tamale offering the most affordable options at GHS800-GHS2,500 monthly.
It's something we develop in our Ghana property pack.
How does rent differ depending on the area or neighborhood?
Premium neighborhoods in Accra command the highest rents due to superior security, amenities, and proximity to business districts.
High-end areas including Cantonments, Airport Residential, East Legon, and Labone charge GHS8,000-GHS20,000 monthly for apartments, translating to $1,500-$2,500 in USD terms. These neighborhoods attract expatriates and high-earning professionals due to their modern infrastructure and security features.
Mid-tier neighborhoods in Accra typically charge GHS5,000-GHS8,000 monthly for comparable properties, while suburban areas offer rents below GHS3,000 monthly. The price differential reflects varying levels of infrastructure, security, and access to amenities.
Outside Accra, even prime neighborhoods in cities like Kumasi and Takoradi rarely exceed GHS6,000 monthly for luxury properties, making them attractive alternatives for cost-conscious renters and investors.
What are the typical rental prices for different property types?
Property type significantly influences rental prices across Ghana's major cities.
| Property Type | Accra City Center (GHS) | Kumasi (GHS) | Takoradi (GHS) |
|---|---|---|---|
| 1-Bedroom Apartment | 10,100 | 2,500 | 2,500 |
| 3-Bedroom Apartment | 17,500 | 5,000 | 4,500 |
| Townhouse | 14,000-17,500 | 6,000-8,000 | 5,000-7,000 |
| Single-Family House | 17,500-29,000 | 9,000-12,000 | 7,000-11,000 |
| Luxury Villa | 35,000+ | 15,000-20,000 | 12,000-18,000 |
How does the rent usually vary by surface size?
Rental prices in Ghana scale significantly with property size, particularly in Accra's competitive market.
One-bedroom apartments in Accra's city center average GHS10,100 monthly, while three-bedroom units in the same areas command GHS17,500 monthly, representing a 73% price increase for the additional space. Studio apartments typically rent for GHS7,000-GHS9,000 monthly in prime areas.
Outside Accra's city center, the size premium remains substantial with one-bedroom apartments at GHS1,700 monthly and three-bedroom units at GHS5,100 monthly. This pattern reflects strong demand for larger units from families and expatriate professionals.
In secondary cities like Kumasi and Takoradi, the size differential is less pronounced but still significant, with three-bedroom properties typically commanding 80-100% more than one-bedroom equivalents in similar neighborhoods.
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What's the full cost of renting when you include agency fees, taxes, and maintenance?
Renting in Ghana involves several additional costs beyond the monthly rent that tenants must budget for.
Agency fees typically range 10-15% of annual rent and are payable upfront when securing a property. For a GHS10,000 monthly rental, expect to pay GHS12,000-GHS18,000 in agency fees initially.
Monthly utilities including electricity, water, and waste management average GHS840-GHS1,000 monthly in Accra, with costs varying based on usage and property size. Internet services add another GHS370-GHS450 monthly for reliable high-speed connections.
High-end apartments often include service charges for maintenance, security, and shared amenities, adding 5-10% to monthly rent. Some landlords include utilities in rent, while others require separate payments, making it crucial to clarify terms before signing lease agreements.
What are the current mortgage rates and costs for property investors?
Ghana's mortgage market presents significant challenges for property investors due to high interest rates and strict lending criteria.
As of August 2025, mortgage interest rates average around 30.25%, making property financing extremely expensive by international standards. Most lenders require down payments of 20-30% of property value, with some demanding up to 40% for non-resident investors.
Prime three-bedroom apartments in Accra cost $450,000-$600,000, while comparable properties in Kumasi range $180,000-$250,000. The high borrowing costs make cash purchases more attractive, with many investors choosing to finance properties through international banks or private arrangements.
Despite high mortgage rates, rental yields of 8-10% annually in premium areas can still provide positive cash flow for investors who secure favorable financing or purchase with cash.
It's something we develop in our Ghana property pack.
How do rental prices and yields differ between short-term and long-term rentals?
Short-term rentals in Ghana offer higher gross yields but require more active management and face greater vacancy risks.
Airbnb and similar short-term rentals can achieve gross yields of 10-15% annually, particularly in prime Accra locations and coastal areas near tourist attractions. However, these properties face seasonal demand fluctuations and require continuous marketing and maintenance.
Long-term rentals provide more stable income streams with average yields of 8-10% annually in prime neighborhoods. These properties experience lower vacancy rates and reduced management costs, making them attractive for passive investors.
The short-term rental market benefits from Ghana's growing tourism sector and business travel, but regulatory changes and market saturation in popular areas may impact future profitability.
Can you give examples of current rental prices in major areas?
Current rental prices across Ghana's major cities demonstrate significant variation based on location and property quality.
| Location | Property Type | Monthly Rent (GHS) | Target Market |
|---|---|---|---|
| Accra - Airport Residential | 2-Bedroom Apartment | 16,000 | Expatriates, Executives |
| Accra - Cantonments | 2-Bedroom Modern Apartment | 15,000-25,000 | Diplomats, Professionals |
| Accra - East Legon | Mid-range Apartment | 11,000-18,000 | Local Professionals |
| Accra - East Legon | Single-Family Home | 23,000-35,000 | Expatriate Families |
| Kumasi - Central | 3-Bedroom Apartment | 5,000-7,000 | Local Families |
| Takoradi - Prime Area | 2-Bedroom Apartment | 4,000-6,000 | Oil Industry Workers |
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 profiles of renters are most common in Ghana right now?
Ghana's rental market serves diverse tenant profiles with distinct preferences and budget ranges.
Students represent a significant portion of renters, particularly in university towns, typically seeking shared accommodations or budget apartments under GHS2,000 monthly. They concentrate in areas near major universities and prefer properties with good transport links.
Young professionals form the largest growing segment, preferring modern apartments in central locations with amenities like reliable internet and backup power. They typically budget GHS3,000-GHS8,000 monthly for one or two-bedroom properties.
Expatriate workers, including diplomats, NGO staff, and corporate executives, drive demand for premium properties in secure neighborhoods. They typically rent properties above GHS10,000 monthly and prioritize security, modern amenities, and proximity to international schools and business districts.
Local families seek larger properties in safe residential areas, often suburban developments that offer better value for money and child-friendly environments. They typically budget GHS5,000-GHS15,000 monthly depending on income levels and location preferences.
What are the average vacancy rates across property types and regions?
Vacancy rates in Ghana vary significantly between property types and locations, reflecting demand patterns and supply dynamics.
Premium apartments in Accra maintain low vacancy rates around 5% due to consistent demand from expatriates, diplomats, and high-earning professionals. These properties benefit from limited supply and strong corporate and embassy demand.
Mid-range neighborhoods in Accra experience vacancy rates of 10-12%, with properties taking 2-3 months to secure tenants on average. The higher vacancy reflects increased supply and more price-sensitive local demand.
Secondary cities including Kumasi and Takoradi show vacancy rates around 15% for standard properties, with premium stock performing better at 8-10% vacancy. The economic activity in these cities, particularly Takoradi's oil industry, supports rental demand but at lower price points than Accra.
It's something we develop in our Ghana property pack.
What rental yields are owners currently seeing and which areas give the best returns?
Rental yields in Ghana's property market remain attractive compared to many developed countries, with significant variation by location and property type.
Accra's prime neighborhoods including Cantonments, East Legon, and Airport Residential deliver rental yields of 8-10% annually, supported by strong expatriate demand and limited premium supply. These areas benefit from consistent occupancy and the ability to command premium rents.
Kumasi offers slightly lower yields of 7-9% annually but provides more stable, locally-driven demand with lower vacancy risks. The city's growing university population and commercial activity support steady rental income.
Takoradi can achieve yields of 10-12% annually, particularly for short-term rentals serving the oil and gas industry. However, this market faces more volatility based on industry activity cycles.
Student accommodation near major universities can deliver yields above 12% annually when managed effectively, though this requires more active management and faces seasonal vacancy periods.
How have rents and yields changed over recent years and what are the forecasts?
Ghana's rental market has experienced steady growth over the past five years, driven by economic development and urban migration.
Over the past five years, rents in central Accra have increased 20-25%, while Kumasi has seen more moderate growth of 15-20%. Premium properties have outperformed the broader market due to strong expatriate demand and limited new supply in desirable neighborhoods.
In the past year, rent increases have continued, particularly for luxury properties, while yields have remained stable at 8-10% for prime areas. The market has shown resilience despite global economic challenges.
Forecasts suggest property prices and rents will grow 10-12% annually over the next five years, driven by continued economic development, urban population growth, and infrastructure improvements. Long-term projections indicate growth may moderate to 7-8% annually as the market matures.
Investors should expect continued strong performance in prime locations, while secondary markets may offer better value opportunities with solid yield potential.
How do rental prices and yields in Ghana compare with other major African cities?
Ghana's rental market positions favorably within the African context, offering competitive yields with moderate pricing compared to other investment destinations.
| City | Rent Index (2025) | Average Yield (%) | Primary Investor Profile |
|---|---|---|---|
| Lagos, Nigeria | 24.30 | 7-9% | Multinational Corps, Tech, Expats |
| Nairobi, Kenya | ~15 | 6-8% | NGOs, Private Sector, Diaspora |
| Accra, Ghana | 12.00 | 8-10% | Expats, Diaspora, Professionals |
| Johannesburg, SA | ~14 | 6-8% | Local Business, Professionals |
| Casablanca, Morocco | ~11 | 5-7% | European Investors, Locals |
Accra offers mid-tier rental costs by African standards while delivering some of the highest yields, making it attractive for investors seeking strong returns without the extreme costs of markets like Lagos or the currency volatility of some other African destinations.
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 rental market in 2025 offers compelling opportunities for investors, with Accra leading in both rental prices and yields across premium neighborhoods.
The combination of strong expatriate demand, limited premium supply, and competitive yields of 8-10% annually makes Ghana an attractive African real estate investment destination, particularly for investors seeking stable rental income in emerging markets.
Sources
- Expat Arrivals - Cost of Living in Ghana
- Quao Realty - Cost of Living in Ghana
- Ace Money Transfer - Housing Guide for Expats in Ghana
- Eden Heights - Cost of Living Comparison
- Vaal - Ghana House Prices 2025
- TheAfricanVestor - Apartment Investment in Accra
- Realtor.com - Ghana Rental Market
- Business Day - Top 10 African Cities with High Rent Prices