Authored by the expert who managed and guided the team behind the Ghana Property Pack
Everything you need to know before buying real estate is included in our Ghana Property Pack
As of September 2025, Ghana's rental market delivers competitive yields between 8-20%, with short-term rentals significantly outperforming traditional long-term leases.
The Ghana rental market presents diverse opportunities across apartments, single-family homes, and luxury properties, particularly in Accra's prime neighborhoods where rental yields consistently reach 8-11% for long-term leases and 12-20% for short-term rentals. Premium areas like Airport Residential, East Legon, and Cantonments drive the highest returns, while emerging coastal regions offer strong growth potential for vacation rental investments.
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.
Ghana's rental market offers gross yields of 8-11% for long-term rentals and 12-20% for short-term rentals in prime Accra locations.
Property prices range from $70,000 for suburban apartments to $600,000+ for prime Accra houses, with additional costs including 0.25-1% stamp duty and 1-3% legal fees.
| Property Type/Location | Average Purchase Price (USD) | Monthly Rent (USD) | Rental Yield (%) |
|---|---|---|---|
| 2-Bedroom Apartment (Accra Prime) | $150,000 - $300,000 | $1,100 - $1,800 | 8-11% |
| 3-Bedroom House (Accra Prime) | $450,000 - $600,000 | $2,500 - $4,000 | 8-11% |
| Airbnb (Accra Prime) | $200,000 - $400,000 | $4,000 - $6,700 | 12-20% |
| 3-Bedroom House (Kumasi) | $180,000 - $250,000 | $180 - $350 | 7-10% |
| Suburban Apartment | $70,000 - $150,000 | $300 - $600 | 6-9% |
| Commercial Office (Accra) | $300,000 - $800,000 | $3,500 - $7,000 | 7-10% |
| Luxury Villa (Accra) | $1,000,000+ | $5,000 - $8,000 | 6-8% |
What types of properties work best for rental investments in Ghana?
Apartments and condominiums dominate the Ghana rental investment market, especially in urban centers like Accra and Kumasi.
These properties attract young professionals, small families, and expatriates who value convenience, security, and amenities like gyms and pools. Single-family homes and townhouses perform well for investors targeting families seeking more space and privacy, particularly in areas close to schools, hospitals, and amenities.
Luxury residential properties including estate villas and high-end apartments generate strong returns by targeting high-net-worth individuals and expatriates. Premium developments in Airport Residential, Cantonments, and Ridge consistently show high demand. Commercial and mixed-use properties in business districts offer higher yields due to multiple revenue streams.
Short-term rental properties for Airbnb and vacation homes are growing rapidly, especially in coastal areas and neighborhoods with significant tourism or expat presence. These properties can deliver yields of 12-20% compared to 8-11% for traditional long-term rentals.
It's something we develop in our Ghana property pack.
Which areas in Ghana offer the highest rental demand right now?
Accra's prime neighborhoods lead Ghana's rental demand, with Airport Residential, Cantonments, East Legon, Ridge, Labone, Dzorwulu, Spintex, and Adenta showing the strongest performance.
These areas attract expatriates, corporate tenants, and affluent locals willing to pay premium rents for quality housing and proximity to business centers. Airport Residential and Cantonments command the highest rents, with 3-bedroom houses renting for $2,500-$4,000 monthly.
Emerging hotspots include Tema, Prampram, and areas near new infrastructure like the Accra-Tema Motorway and railway development. These locations offer growth potential as Accra expands and connectivity improves. Kumasi's prime districts of Nhyiaeso, Ahodwo, and Asokwa show rapid growth in rental demand.
Coastal regions in the Western and Volta Regions demonstrate strong demand for vacation rentals due to tourism growth. The government's focus on developing coastal tourism infrastructure creates opportunities for short-term rental investments.
How do property purchase prices vary across Ghana?
Property prices in Ghana vary significantly by location, with Accra's prime areas commanding the highest values.
| Property Type & Location | Price Range (USD) | Price per SqM (USD) |
|---|---|---|
| 3-Bedroom House (Accra Prime) | $450,000 - $600,000 | $2,500 - $3,500 |
| High-End Apartment (Accra Prime) | $250,000 - $400,000 | $2,000 - $3,000 |
| 2-Bedroom Apartment (Accra Prime) | $150,000 - $300,000 | $1,800 - $2,800 |
| Suburban Entry Apartment | $70,000 - $150,000 | $800 - $1,500 |
| 3-Bedroom House (Kumasi Prime) | $180,000 - $250,000 | $1,200 - $1,800 |
| Emerging Neighborhoods (Accra/Kumasi) | $150,000 - $350,000 | $1,000 - $2,200 |
| Luxury Villas (Accra) | $1,000,000+ | $3,500+ |
What additional costs should I budget when buying property in Ghana?
Property acquisition in Ghana involves several mandatory fees and taxes that add 3-8% to your purchase price.
Stamp duty ranges from 0.25% to 1% of the purchase price, while registration fees cost GHS 50-500 ($5-$45) depending on the local authority. Legal fees typically range from 1-3% of the property value and are negotiable with your lawyer.
Search fees for property title verification cost GHS 100-300 ($9-$27). VAT applies at 5% plus 1% COVID levy for developer properties, and 15% plus 1% on commercial land purchases. Capital gains tax of 15% applies to sellers on profit from property sales.
Annual property rates range from 0.5% to 3% of assessed value, with higher rates in urban areas. Rental income tax requires residents to pay 8% quarterly and non-residents 15% quarterly on rental income. Budget an additional $5,000-$15,000 for these costs on a typical property purchase.
How much do maintenance and service charges typically cost?
Maintenance and service charges in Ghana vary significantly based on property type and location.
Apartment buildings charge service fees for amenities like security, lifts, and communal areas, typically adding $50-$200 monthly to your costs. These charges often get included in rental agreements but impact your net rental yield calculations.
Single-family homes require tenants to handle external repairs, plumbing, pest control, and sometimes structural issues. These maintenance costs range from $100-$300 monthly depending on the area and property condition. Newer properties in premium developments typically have lower maintenance requirements.
Utility costs including electricity, water, and internet range from GHS 300-500 monthly ($27-$45), with additional expenses for water tanks or private security in certain areas. Factor these ongoing costs when calculating your investment returns, as they directly impact your net rental yield.
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What are the current mortgage rates and terms in Ghana?
Ghana's mortgage market offers limited options with relatively high interest rates compared to international standards.
Ghana Cedi mortgages for individuals carry fixed annual rates of 18-24%, with the National Housing Fund offering reduced rates of 10-12% specifically for public sector workers. Republic Bank provides local currency mortgages at 21-26% with repayment terms up to 20 years.
USD mortgages designed for diaspora buyers offer more attractive terms at 11.5% fixed rates with repayment periods up to 15 years. These foreign currency loans require proof of foreign income and often have stricter qualification criteria.
Down payment requirements typically range from 20-30% for most buyers, though qualifying public sector employees may access loans with lower down payments of 10-20%. The limited mortgage market means many property transactions occur through cash purchases or developer financing arrangements.
What are the current rental rates across different property types and areas?
Rental rates in Ghana vary dramatically based on location, property type, and target market.
| Property Type/Location | Monthly Rent (USD) | Monthly Rent (GHS) |
|---|---|---|
| 2-Bedroom Apartment (Accra Prime) | $1,100 - $1,800 | GHS 7,500 - 14,000 |
| 3-Bedroom House (Accra Prime) | $2,500 - $4,000+ | GHS 18,000 - 36,000 |
| Commercial Office (Prime Accra) | $3,500 - $7,000 | GHS 28,000 - 56,000 |
| 3-Bedroom House (Kumasi Prime) | $180 - $350 | GHS 2,200 - 4,000 |
| 1-Bedroom Apartment (Suburban) | $300 - $600 | GHS 2,500 - 5,000 |
| Luxury Villa (Accra) | $5,000 - $8,000 | GHS 40,000 - 65,000 |
| Student Housing (University Areas) | $200 - $400 | GHS 1,500 - 3,200 |
How do short-term rental yields compare to long-term leases?
Short-term rentals significantly outperform long-term leases in Ghana's prime locations, delivering yields of 12-20% compared to 8-11% for traditional rentals.
Airbnb properties in top neighborhoods like Airport Residential and East Legon achieve average daily rates around $95, generating monthly revenues of $4,000-$6,700 with occupancy rates of 34-46%. This seasonal variability requires active management but delivers substantially higher returns.
Long-term leases provide more stable income streams with yields of 8-11% in prime urban areas, offering predictable cash flow and lower management requirements. The yield advantage for short-term rentals can be 20-70% higher than typical long-term leases in high-demand and tourist areas.
Success in short-term rentals depends on location, property quality, and professional management. Properties near airports, business districts, and tourist attractions perform best, while suburban locations may not justify the additional management complexity.
It's something we develop in our Ghana property pack.
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 tenant profiles dominate the market and what are vacancy rates?
Ghana's rental market attracts diverse tenant profiles with expatriates and corporate renters leading demand in premium segments.
Expatriates, corporate renters, young professionals, diaspora Ghanaians, and families drive demand across different property segments. Luxury and short-term rental demand comes largely from tourists, business visitors, and expats willing to pay premium rates for quality accommodation.
Vacancy rates in urban prime districts typically range from 8-15%, dropping to 4-8% for the most desirable properties in locations like Airport Residential and East Legon. Suburban and emerging areas experience higher vacancy rates of 15-25% due to limited transportation and amenities.
The rental sector accommodates over 40% of urban households, with vacancy rates remaining relatively low due to supply-demand imbalances. Strong population growth and urbanization continue supporting rental demand, particularly in Accra and secondary cities like Kumasi and Tema.
How have rental yields changed over the past five years?
Ghana's rental market has experienced significant growth with average house rents increasing 111% between 2022-2023 and apartment rents rising 63%.
Overall property prices have appreciated 8-12% annually since 2020, with prime areas experiencing the sharpest increases. Accra specifically shows 8% annual price appreciation, though median rent growth has been slower, indicating that luxury and premium segments drive average rent increases.
Rental yields have remained relatively stable at 8-11% in prime areas over recent years, while short-term rental yields and prices for premium Airbnb properties have surged, especially in coastal and tourist zones. This stability despite rising property prices reflects strong rental demand growth.
The premium segment has outpaced overall market growth, with luxury properties and short-term rentals showing the strongest yield improvements. Emerging areas and secondary cities have also benefited from infrastructure development and urbanization trends.
What are the projected trends for rental yields in Ghana?
Ghana's rental yield outlook remains positive across all time horizons, supported by strong fundamentals and growing demand.
Over the next year, rental yields are expected to hold steady at 8-11% for long-term rentals and 12-15% for short-term rentals, especially in Accra, coastal regions, and business districts like Airport Residential and Cantonments. Government infrastructure investments and tourism development support this stability.
The five-year outlook anticipates continued yield stability at 7-11%, supported by urbanization, economic growth, and infrastructure improvements. Capital appreciation is forecasted at 5-10% annually, driven by population growth and limited housing supply in prime areas.
The ten-year projection shows strong demand due to urban population growth, diaspora investment, and ongoing government housing initiatives. Yields are expected to remain globally competitive in prime areas, with infrastructure development and economic diversification supporting long-term growth. Coastal and emerging areas may see accelerated development as tourism and business sectors expand.
How does Ghana compare to other major African cities for rental yields?
Ghana's rental yields position competitively within Africa, particularly excelling in the short-term rental segment.
Accra's prime rental yields of 8-11% for long-term rentals and 12-20% for short-term rentals compare favorably with other major African cities. Johannesburg and Durban deliver yields around 12-13%, while Lagos offers 6-8% returns.
Ghana's short-term rental market significantly outperforms many African peers due to tourism growth and favorable regulatory environment. Accra's Airbnb yields now exceed those in Lagos, Nairobi, and many other African business centers.
Globally, Accra's gross yields, especially in the short-term rental sector, are competitive with international hotspots. Ghana offers higher yields than established markets like London, Dubai, and many developed country cities, while providing better regulatory stability than some emerging markets.
The combination of political stability, growing economy, English-speaking environment, and diaspora connections makes Ghana attractive compared to regional alternatives. Infrastructure development and tourism growth further enhance its competitive position.
It's something we develop in our Ghana property pack.
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 offers compelling opportunities for investors seeking competitive yields in a stable African economy.
Success requires careful location selection, understanding of local regulations, and proper budgeting for additional costs and ongoing maintenance expenses.
Sources
- Landmark Homes Ghana - Real Estate Investing Guide
- Lakeside Estate - Property Investment Types
- Vaal Ghana - Property Investment Masterclass 2025
- Vaal Ghana - Rental Property Investment
- AirROI - Accra Short-term Rental Market Report
- The African Investor - Accra Price Forecasts
- The African Investor - Ghana Property Taxes
- Africa Housing News - Ghana Real Estate Forecasts 2025
- Republic Bank Ghana - Mortgage Calculator
- The African Investor - Ghana Real Estate Market