All sources have been thoroughly verified for credibility. Furthermore, an industry specialist has reviewed and approved the final article.
Everything you need to know before buying real estate is included in our Ghana Property Pack
Thinking about buying a 3-bedroom apartment in Accra? It’s a vibrant city, but you're probably wondering: is now the right time to buy, or should you wait for prices to drop?
And what about long-term investment—should you look into other neighborhoods like East Legon or Cantonments where property values might appreciate more over time?
In this article, we’ll answer these questions. We know this market quite well - and we have put all our knowledge in the Ghana Property Pack.
Will property prices increase in Ghana in 2025?
Yes, property prices in Ghana are expected to rise in 2025, driven by a combination of economic growth and increasing urbanization.
Backed by our fresh, in-depth market analysis, we’re confident that Ghana remains an attractive market for both local and international investors.
While there are challenges such as inflation and infrastructure development, the main drivers behind Ghana’s property price growth are strong and persistent.
Urban areas, particularly Accra and Kumasi, continue to experience high demand for housing, which is likely to keep prices on an upward trajectory. Additionally, Ghana's stable political environment and growing middle class contribute to a positive outlook for the real estate market.
Signals pointing to a property price increase in Ghana
Here are some factors suggesting prices could increase:
Ghana's economy is projected to grow steadily, with sectors like oil and gas, mining, and agriculture driving economic expansion. This growth is expected to increase disposable incomes, thereby boosting demand for residential properties.
Urbanization trends are accelerating, with more people moving to cities in search of better opportunities. This urban migration is expected to increase demand for housing in urban centers, pushing property prices higher.
The government is investing in infrastructure projects, such as roads and public transportation, which are likely to enhance property values in areas benefiting from improved connectivity.
Ghana's political stability and favorable investment climate continue to attract foreign investors, who are likely to invest in the real estate sector, further driving up property prices.
The growing middle class in Ghana is increasing demand for quality housing, particularly in urban areas, which is expected to contribute to rising property prices.
There is a shortage of affordable housing in Ghana, and with demand outstripping supply, property prices are likely to rise as developers struggle to keep up.
The introduction of new real estate policies aimed at improving the housing sector is expected to stimulate investment and development, leading to higher property values.
Signals pointing to a property price decrease in Ghana
Here are some factors suggesting prices could fall:
High inflation rates could erode purchasing power, making it more difficult for potential buyers to afford homes, which could dampen demand.
Interest rates on mortgages may rise, making financing more expensive and potentially reducing the number of people able to purchase property.
Infrastructure development delays could hinder access to certain areas, making them less attractive to buyers and potentially leading to stagnation or declines in property prices in those regions.
Get fresh and reliable information about the market in Ghana
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
If property prices go up in Ghana, how much would they increase by?
If real estate prices in Ghana were to rise in 2025, the increase would likely be between 5% to 10% of their 2024 values.
Typically, real estate in emerging markets like Ghana appreciates by approximately 5% to 10% annually over the long term. However, fluctuations can occur depending on factors such as region, season, and property type.
It means that, if you spot a lovely 2-bedroom apartment in Accra for 500,000 GHS today, don't be surprised if it's priced between 525,000 and 550,000 GHS this time next year.
To give you a better understanding, here is a table that shows 7 types of Ghanaian real estate properties, their estimated prices in 2024, and projections for 2025 based on potential price increases of 5%, 7%, and 10%.
| Type of Property | Average Price in 2024 (GHS) | Price in 2025 (5% increase) | Price in 2025 (7% increase) | Price in 2025 (10% increase) |
|---|---|---|---|---|
| Apartment (60 sqm / 646 sqft) | GHS 600,000 | GHS 630,000 | GHS 642,000 | GHS 660,000 |
| Modern Apartment (75 sqm / 807 sqft) | GHS 800,000 | GHS 840,000 | GHS 856,000 | GHS 880,000 |
| Luxury Penthouse (100 sqm / 1,076 sqft) | GHS 1,500,000 | GHS 1,575,000 | GHS 1,605,000 | GHS 1,650,000 |
| Studio (30 sqm / 323 sqft) | GHS 300,000 | GHS 315,000 | GHS 321,000 | GHS 330,000 |
| Loft (80 sqm / 861 sqft) | GHS 1,000,000 | GHS 1,050,000 | GHS 1,070,000 | GHS 1,100,000 |
| Townhouse (150 sqm / 1,615 sqft) | GHS 2,000,000 | GHS 2,100,000 | GHS 2,140,000 | GHS 2,200,000 |
| Investment Property (50 sqm / 538 sqft) | GHS 500,000 | GHS 525,000 | GHS 535,000 | GHS 550,000 |
Everything you need to know is included in our Property Pack for Ghana
If real estate prices go up in Ghana, which areas are likely to see the biggest increases?
Today, people who want to move to Ghana seek the blend of cultural heritage and modern amenities, which Osu offers. Hence, we could see a price increase there in 2025.
Also, lately, there's been a shift toward more youthful, vibrant neighborhoods, and East Legon has really taken off.
We like it when information is clear and easy to digest. So, here’s a table that highlights the areas where prices might rise the most, along with the reasons behind those expected increases. It’s very high-level. If you want more details on a specific area, please check our real estate pack tailored to the Ghanaian market.
| Neighborhood | Level of Increase | Why |
|---|---|---|
| Osu | High | Recent development of luxury housing projects and its increasing appeal to international buyers as travel normalizes post-pandemic, driving demand. |
| Cantonments | High | Expected rise due to limited housing stock, upcoming renovations to heritage buildings, and growing demand for prime properties in central Accra. |
| Labone | Medium-High | Ongoing gentrification and new transport links, along with several planned redevelopment projects in the area, are likely to push prices higher. |
| Airport Residential Area | Medium | The shift towards hybrid workspaces is driving demand for residential properties near business districts, combined with new mixed-use developments. |
| East Legon | Medium-High | Eco-friendly urban projects and recent construction of new schools and parks are increasing its attractiveness for families, pushing prices upward. |
| Dzorwulu | Medium | Investment in local infrastructure, such as the extension of road networks and renovation of historic areas, is boosting long-term value. |
| Spintex | Medium-High | With new cultural and commercial spaces being developed, this trendy neighborhood is seeing increased demand from both residents and investors. |
| Tema | High | Upcoming large-scale urban regeneration projects and improved public transport access are expected to make this area more desirable. |
| Achimota | Medium-High | Its proximity to Accra, along with new office and residential developments, makes it increasingly attractive to professionals seeking more space. |
| Madina | Medium | Gentrification and cultural regeneration projects are attracting new residents, leading to rising prices as the area becomes more fashionable. |
| West Legon | High | As new luxury developments are launched, demand for premium housing among wealthy buyers is expected to further increase property values. |
| Adabraka | High | Upcoming restoration of historic sites and high-profile cultural projects are driving a renewed focus on this central, historic location. |
If I'm looking to invest in real estate, what types of properties should I focus on for the best value appreciation in Ghana?
In 2025, Ghana's real estate trends focus on tech-smart, energy-efficient apartments, larger suburban homes for families, properties with outdoor spaces, and eco-friendly buildings—all driving higher demand and prices. Here is a summary.
- Tech-Equipped and Energy-Efficient Apartments:
Driven by remote work and sustainability trends, these homes offer smart technology features and energy-saving systems. They cater to young professionals and tech workers, making them a hot commodity in 2025, especially in urban areas like Accra and Kumasi.
- Family-Sized Homes in Suburban Areas:
With a growing demand for larger living spaces, especially among families, suburban areas near Accra and Kumasi are seeing increased interest. Proximity to green spaces, schools, and essential amenities is a major factor driving value.
- Properties with Outdoor Spaces:
Post-pandemic, outdoor spaces like terraces, balconies, or gardens have become highly desirable. In bustling cities like Accra, these features offer a much-needed escape and are likely to drive up property values.
- Eco-Friendly Buildings with Low Carbon Footprints:
Ghana's commitment to sustainability is boosting demand for eco-certified buildings. Buyers are increasingly valuing properties that align with the country's green goals, leading to price appreciation in this category.
Make a profitable investment in Ghana
Better information leads to better decisions. Save time and money. Download our guide.
