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Accra offers some of the most attractive rental yields in West Africa, with prime neighborhoods delivering 7-12% gross returns as of September 2025.
The capital city's strong demand from expatriates, diplomatic missions, and regional corporate headquarters creates a robust rental market that consistently outperforms many African cities. Property types range from high-yielding apartments in East Legon to stable townhouses in Airport Residential Area, each offering different risk-return profiles for investors.
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Rental yields in Accra range from 7-12% depending on location and property type, with East Legon leading at up to 12% returns.
Apartments typically offer the highest yields due to strong expat demand, while standalone homes provide more stable but lower returns.
| Neighborhood | Property Type | Rental Yield Range |
|---|---|---|
| East Legon | Apartments | 10-12% |
| Airport Residential | Townhouses | 8-11% |
| Cantonments | Standalone Homes | 7-8% |
| Spintex | Apartments | 9-10% |
| Tema/Adjiringanor | Townhouses | 8-10% |
| Ridge | Mixed Types | 8-11% |
| Emerging Areas | All Types | 8-12% |
What are the typical rental yields right now across the main neighborhoods in Accra?
East Legon delivers the highest rental yields in Accra, reaching up to 12% gross returns as of September 2025.
Airport Residential Area and Ridge follow closely with yields between 8-11%, making them attractive options for investors seeking premium locations with strong rental demand. These areas benefit from proximity to major business districts and international organizations.
Cantonments offers more conservative yields of 7-8%, but provides exceptional stability due to its diplomatic quarter status and consistent demand from embassy staff and international executives. The area's security and established infrastructure make it a preferred choice for long-term investments.
Spintex delivers solid 9-10% gross yields and has become increasingly popular among young professionals and tech workers, creating a reliable tenant base for property investors.
Emerging areas like Tema, Adjiringanor, and Ayi Mensah offer competitive yields of 8-10% with higher growth potential, though they carry slightly more risk due to developing infrastructure.
How do yields differ between apartments, townhouses, and standalone homes?
Apartments consistently deliver the highest rental yields in Accra's property market, ranging from 7-10% in prime areas and 8-12% in emerging neighborhoods.
The strong performance of apartments stems from high demand from expatriates, young professionals, and corporate housing programs. Two and three-bedroom apartments in East Legon and Airport Residential Area command premium rents while requiring lower maintenance costs compared to larger properties.
Townhouses offer moderate yields of 7-9% in prime areas and 8-10% in emerging locations, appealing primarily to families and corporate renters who need more space. These properties provide a good balance between rental income and capital appreciation potential.
Standalone homes typically generate the lowest yields at 6-8% in prime areas and 7-9% in emerging neighborhoods, but compensate with superior stability and long-term capital appreciation. The higher land value component and increased maintenance requirements contribute to lower rental yields.
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What is the average price of these properties including all fees and taxes?
Apartment prices in prime Accra locations range from $300,000 to over $1,000,000, with entry-level options starting around $100,000 in emerging areas.
| Property Type | Prime Location Price Range | Emerging Area Price Range |
|---|---|---|
| 2-Bedroom Apartment | $200,000 - $400,000 | $100,000 - $200,000 |
| 3-Bedroom Apartment | $250,000 - $600,000 | $150,000 - $300,000 |
| 3-Bedroom Townhouse | $300,000 - $500,000 | $135,000 - $300,000 |
| Luxury Townhouse (5+ beds) | $800,000 - $2,500,000 | $400,000 - $800,000 |
| Standalone Home/Mansion | $450,000 - $1,100,000 | $250,000 - $500,000 |
Transaction costs add 5-8% to the purchase price, including stamp duty, VAT, legal fees, and registration costs. For a $300,000 property, expect to pay an additional $15,000-$24,000 in fees and taxes.
Prime areas like East Legon, Cantonments, and Airport Residential command the highest prices due to their established infrastructure, security, and proximity to business centers and international facilities.
How much should I expect to pay in annual property taxes and maintenance costs?
Property taxes in Accra typically range from 2-3% of the assessed property value annually, placing the city at the higher end of Ghana's tax bracket.
For a $300,000 apartment in Airport Residential Area, annual property tax would cost between $6,000-$9,000. The high tax rate reflects Accra's status as the capital and the superior municipal services provided in prime neighborhoods.
Maintenance costs vary significantly by property type, generally running 0.5-2% of property value per year for apartments and townhouses. Standalone homes with gardens, pools, and larger compounds typically require higher maintenance budgets.
A typical $300,000 apartment would incur $1,500-$6,000 annually in maintenance costs, covering regular upkeep, repairs, and property management if using a service. Newer properties in well-managed developments tend toward the lower end of this range.
Total annual ownership costs (taxes plus maintenance) typically represent 3-5% of property value, which investors should factor into their net yield calculations.
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What would a mortgage cost me today, and how does that impact net rental yield?
Mortgage interest rates in Ghana currently range from 21-28% as of September 2025, following recent policy rate reductions by the Bank of Ghana.
Commercial banks were previously offering rates between 25-35%, but recent monetary policy changes have brought rates down slightly to the 21-28% range. Despite this improvement, mortgage costs remain significantly high compared to global standards.
These high interest rates severely impact net rental yields for leveraged properties. A property generating 10% gross rental yield could see net yields drop to just 2-4% after debt service, making cash purchases far more attractive for investors.
Most local property investors choose to buy properties outright with cash rather than taking mortgages, avoiding the substantial interest burden that would eliminate most rental income benefits.
International investors should carefully consider financing options in their home countries or consider all-cash purchases to maximize investment returns in Accra's property market.
How do short-term rental returns compare with long-term rental returns in Accra?
Short-term rentals in Accra generate an average annual revenue of $6,765 with 34% occupancy rates and $95 average daily rates as of September 2025.
Prime properties can earn between $1,346-$2,147 monthly during peak occupancy periods, but the median occupancy rate around 32% makes income more volatile and seasonal compared to traditional long-term rentals.
Long-term rentals in prime areas maintain 85-95% occupancy rates, providing much more predictable and stable returns for property investors. The consistent income stream makes financial planning and mortgage servicing more manageable.
Short-term rentals require more active management, higher marketing costs, and frequent maintenance due to tenant turnover, reducing net profitability despite potentially higher gross revenues during peak periods.
Long-term rentals benefit from established tenant relationships, lower vacancy periods, and reduced operational complexity, making them more suitable for passive investors seeking steady income streams.
Can you give me example rents for different property sizes and locations?
Rental prices in Accra vary significantly by location and property size, with prime areas commanding premium rates.
| Area | 2-Bedroom Apartment | 3-Bedroom Apt/Townhouse | 5-Bedroom House |
|---|---|---|---|
| Airport Residential | $1,200-$2,200 | $3,300-$4,000 | $4,000-$6,000 |
| East Legon | $1,200-$3,000 | $2,500-$4,000 | $3,500-$7,000 |
| Cantonments | $2,000-$4,000 | $3,000-$5,000 | $5,000-$8,000 |
| Spintex/Adjiringanor | $800-$1,800 | $1,200-$2,500 | $2,000-$3,500 |
| Suburban Areas | $400-$1,200 | $800-$1,500 | $1,200-$2,500 |
These rental rates reflect the strong demand from expatriates, diplomatic staff, and corporate executives who prefer furnished or semi-furnished properties in secure, well-serviced neighborhoods.
Premium locations like Cantonments command the highest rents due to diplomatic quarter status and superior security, while emerging areas offer more affordable options with good growth potential.
What are the main renter profiles in Accra, and how stable are they as tenants?
Expatriates represent the most stable and profitable tenant segment in Accra's rental market, including diplomats, corporate executives, and NGO professionals.
These tenants typically favor prime, secure areas and tend to be highly reliable with long-term leases, often backed by their employers or international organizations. They usually pay rent in advance and maintain properties well.
Young professionals and families form another significant segment, mostly leasing apartments and townhouses in emerging neighborhoods. This group offers moderate stability with growing income potential as Ghana's economy develops.
Local professionals often prefer townhouses and standalone homes, providing moderate tenant stability with good understanding of local market conditions and legal requirements.
Corporate housing programs represent the highest stability segment, where companies lease properties in bulk for staff accommodation, offering long-term contracts and guaranteed payments.
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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 do vacancy rates look like across the different property types and areas?
Prime areas in Accra maintain low vacancy rates of 5-10%, driven by consistent demand from expatriates and established professionals.
Areas like East Legon, Airport Residential, and Cantonments benefit from their reputation, security, and proximity to international organizations, keeping vacancy periods short and tenant turnover minimal.
Emerging neighborhoods experience higher vacancy rates of 10-15%, though these rates are improving as infrastructure development progresses and more businesses establish operations in these areas.
Short-term rental properties face significantly higher vacancy with occupancy rates around 32-34%, reflecting the seasonal and irregular nature of tourism and business travel to Accra.
Property type also influences vacancy rates, with well-located apartments experiencing the lowest vacancy due to high demand from young professionals and expatriates who prefer lower-maintenance living options.
Which property types and locations are considered the smartest investment choices right now?
Two-bedroom apartments in East Legon, Cantonments, and Airport Residential Area offer the best balance of price growth, rental yield, and occupancy rates as of September 2025.
1. **Prime Area Apartments**: East Legon and Airport Residential 2-3 bedroom units provide 8-12% yields with strong capital appreciation2. **Emerging Area Townhouses**: Adjiringanor, Spintex, and Tema Community 25 offer good entry points with rising yields3. **Corporate Housing Properties**: Multi-unit developments targeting corporate leasing programs ensure stable, long-term income4. **Infrastructure-Adjacent Properties**: Properties near planned developments like the new airport terminal expansion5. **Secure Compound Developments**: Gated communities with amenities appeal to both local and international tenantsTownhouses in emerging well-planned areas like Adjiringanor and Spintex represent excellent opportunities for capital appreciation while generating solid current income.
Luxury standalone homes in premium areas serve primarily as capital preservation and appreciation vehicles rather than high-yield rental investments, suitable for investors prioritizing long-term wealth building.
Early investment in well-planned emerging developments offers the highest upside potential for both rental growth and capital appreciation as infrastructure improves.
How have rents and yields changed over the past five years and over the past year?
Rental rates in prime Accra areas have increased 8-10% annually over the past five years, driven by consistent demand from the diplomatic community and multinational corporations.
Property prices have appreciated 20-25% since 2020 in premium zones like East Legon and Airport Residential, significantly outpacing inflation and delivering strong capital gains for early investors.
Rental yields have stabilized after a period of peak growth, now consistently ranging from 7-12% depending on area and property type, representing a maturation of the market rather than a decline in attractiveness.
Over the past year specifically, rents have continued growing at 5-8% in most areas, with emerging neighborhoods like Spintex and Adjiringanor showing the strongest growth as infrastructure improvements attract more tenants.
The combination of rental growth and capital appreciation has made Accra one of the most attractive property investment markets in West Africa for investors seeking both income and long-term wealth building.
What is the outlook for yields over the next one year, five years, and ten years, and how does Accra compare with other similar big African cities?
Accra's rental yields are expected to remain stable to slightly rising over the next year, with property price growth of 5-10% anticipated as infrastructure projects progress.
The five-year outlook projects sustainable yields of 7-12% with continued solid appreciation, particularly in areas benefiting from ongoing infrastructure projects like the expanded airport and improved road networks.
Over the next decade, Accra's position as a regional hub for international organizations and multinational corporations should maintain strong rental demand, though yield moderation is possible as the market matures.
| African City | Current Yields | Price Appreciation | Market Characteristics |
|---|---|---|---|
| Accra | 7-12% | 15-20% annually | High expat demand, stable |
| Lagos | 6-8% | 10-15% annually | Large market, higher volatility |
| Nairobi | 6-10% | 8-12% annually | Stable, mature market |
| Johannesburg | 5-7% | 5-8% annually | Mature market, currency risk |
| Casablanca | 4-6% | 6-10% annually | Stable but lower yields |
Accra stands out among major African cities for delivering higher yields, robust appreciation, and demand stability driven by regional headquarters, diplomatic missions, and rapid urbanization trends.
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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 compelling investment opportunities with yields ranging from 7-12% across different neighborhoods and property types.
The combination of strong rental demand from expatriates, steady capital appreciation, and relative market stability makes Accra an attractive destination for property investors seeking both income and long-term growth.
Sources
- Ghana Property Finder - Accra's Fastest Growing Neighbourhoods
- The African Investor - Apartment Investment in Accra
- Vaal Properties - Top 5 Neighbourhoods in Accra
- Ghana Property Finder - Residential vs Commercial Real Estate
- Vaal Properties - Property Investment Masterclass 2025
- Quao Realty - Building vs Buying in Ghana 2025
- Vaal Properties - Ghana House Prices 2025
- Private Property Ghana - Townhouses for Sale in Accra
- The African Investor - Ghana Property Taxes
- Bank of Ghana - Interest Rates