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
If you're considering investing in rental property in Ghana, understanding the current yields is essential to making a smart decision.
This article breaks down gross and net rental yields, vacancy rates, and the costs that affect your bottom line across different neighborhoods and property types in Ghana.
We constantly update this blog post to reflect the latest market conditions and official data.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Ghana.
Insights
- Ghana's average gross rental yield sits around 7.5% nationally in early 2026, but Greater Accra ranges widely from 6.5% to 9.5% depending on whether you buy in prime or commuter neighborhoods.
- The 8% flat residential rent income tax in Ghana immediately reduces your rental income before you even account for vacancy or maintenance costs.
- Outer Accra areas like Kasoa and Madina can deliver gross yields of 9% to 12%, roughly double what you'd get in prestigious neighborhoods like Cantonments or Airport Residential.
- New electricity and water tariffs took effect January 1, 2026, increasing landlord operating costs for properties where service charges cover shared utilities and backup systems.
- Studios and one-bedroom apartments in Ghana typically outperform larger units on yield because they attract a broader tenant pool and have lower purchase prices.
- The Accra-Tema Motorway expansion, currently around 30% complete, is expected to boost rental demand along the Spintex and Tema corridor once finished.
- Property management in Ghana costs 8% to 12% of monthly rent collected, plus a leasing fee that often equals one month's rent for tenant placement.
- Ghana's typical vacancy rate of around 8% means landlords should budget roughly one month of rent per year as a vacancy buffer.
- TDC plans to deliver 800 affordable housing units in Tema by April 2026, which could increase tenant choice and put pressure on rents for older competing stock nearby.
What are the rental yields in Ghana as of 2026?
What's the average gross rental yield in Ghana as of 2026?
As of early 2026, the average gross rental yield in Ghana stands at approximately 7.5% per year for residential properties across all types.
The realistic range of gross rental yields that covers most typical residential properties in Ghana falls between 6.5% and 9.5%, with Greater Accra being the primary driver of this spread.
Ghana's average gross rental yield of 7.5% is competitive compared to many African markets, though it remains below some frontier markets that carry higher risk profiles.
The single most important factor currently influencing gross rental yields in Ghana is the widening gap between property prices in prime Accra neighborhoods and the more affordable commuter areas, where rents remain strong relative to purchase costs.
What's the average net rental yield in Ghana as of 2026?
As of early 2026, the average net rental yield in Ghana is approximately 5.5% per year after accounting for taxes, vacancy, and operating costs.
The typical difference between gross and net rental yields in Ghana is around 2 percentage points, meaning landlords lose roughly a quarter of their gross yield to various expenses.
The expense category that most significantly reduces gross yield to net yield in Ghana is the 8% residential rent income tax imposed by the Ghana Revenue Authority, which directly cuts into every cedi of rental income you collect.
The realistic range of net rental yields for most standard investment properties in Ghana falls between 4.5% and 6.5%, depending on how well you manage vacancy, maintenance costs, and whether you use professional property management.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Ghana.
We made this infographic to show you how property prices in Ghana compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What yield is considered "good" in Ghana in 2026?
In Ghana's rental market, a gross yield of 9% or higher is generally considered "good" by local investors, while anything above 6% net is seen as a strong performer.
The gross yield threshold that typically separates average-performing properties from high-performing ones in Ghana is around 8%, because properties above this level usually compensate adequately for the higher vacancy risk, maintenance costs, and management intensity that come with Ghana's rental market.
How much do yields vary by neighborhood in Ghana as of 2026?
As of early 2026, the spread in gross rental yields between the highest-yield and lowest-yield neighborhoods in Ghana can be as much as 2 times, ranging from around 4% in prime areas to 12% in outer growth corridors.
Commuter and value neighborhoods like Kasoa, Madina, Weija, and Adenta typically deliver the highest rental yields in Ghana because purchase prices remain affordable while renter demand from young households and workers stays consistently strong.
Premium and embassy neighborhoods like Cantonments, Airport Residential Area, Ridge, Labone, and Roman Ridge typically deliver the lowest rental yields in Ghana because property prices have been bid up faster than rents can follow.
The main reason yields vary so much across neighborhoods in Ghana is that rents don't rise as fast as property prices in the most prestigious areas, so investors pay a premium for status and stability rather than cash flow.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Ghana.
How much do yields vary by property type in Ghana as of 2026?
As of early 2026, gross rental yields across different property types in Ghana range from around 5% for large luxury villas to 10% or more for well-located studios and one-bedroom apartments.
Studios and one-bedroom apartments currently deliver the highest average gross rental yield in Ghana because they have lower purchase prices, attract a broader pool of tenants, and experience shorter vacancy periods when priced correctly.
Large detached houses and luxury villas currently deliver the lowest average gross rental yield in Ghana because their high purchase prices outpace what the relatively small pool of qualified tenants is willing to pay in rent.
The key reason yields differ between property types in Ghana is that smaller units offer better rent-per-cedi ratios, while larger properties carry price premiums for space that renters won't fully pay for.
By the way, you might want to read the following:
What's the typical vacancy rate in Ghana as of 2026?
As of early 2026, the estimated average residential vacancy rate for investor-grade urban rentals in Ghana is approximately 8%.
The realistic range of vacancy rates across different neighborhoods in Ghana spans from around 5% in well-located mid-market areas to 12% or higher for overpriced luxury units or properties with awkward layouts.
The main factor that currently drives vacancy rates up or down in Ghana is pricing accuracy, because correctly priced units in areas with good transport access and amenities fill quickly, while overpriced properties sit empty for months.
Ghana's vacancy rate of around 8% is roughly in line with other growing African urban markets, though it can spike locally when new affordable housing supply enters the market, such as the planned TDC deliveries in Tema.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Ghana.
What's the rent-to-price ratio in Ghana as of 2026?
As of early 2026, the average rent-to-price ratio in Ghana is approximately 0.6% monthly, which translates to a gross annual yield of around 7.5%.
A rent-to-price ratio above 0.75% monthly is generally considered favorable for buy-to-let investors in Ghana, and this ratio is directly connected to rental yield because the annual rent-to-price ratio equals your gross yield.
Ghana's rent-to-price ratio is attractive compared to many mature markets in Europe and North America, though it reflects the higher risk and management intensity that comes with investing in a frontier market.
We have made this infographic to give you a quick and clear snapshot of the property market in Ghana. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which neighborhoods and micro-areas in Ghana give the best yields as of 2026?
Where are the highest-yield areas in Ghana as of 2026?
As of early 2026, the top three highest-yield neighborhoods in Ghana are Kasoa, Madina, and Weija, all of which benefit from affordable purchase prices combined with strong renter demand from commuters and growing households.
The estimated average gross rental yield range in these top-performing areas like Kasoa, Madina, and Weija falls between 9% and 12%, significantly above Ghana's national average.
The main characteristic these high-yield areas in Ghana share is that they offer accessible housing for working-class tenants with reliable commute routes to central Accra, which keeps demand steady even as prices remain reasonable.
You'll find a much more detailed analysis of the areas with high profitability potential in our property pack covering the real estate market in Ghana.
Where are the lowest-yield areas in Ghana as of 2026?
As of early 2026, the top three lowest-yield neighborhoods in Ghana are Cantonments, Airport Residential Area, and Ridge, where property prices have climbed well above what rental income can justify.
The estimated average gross rental yield range in these low-yield areas falls between 4% and 6.5%, roughly half of what you could earn in outer Accra neighborhoods.
The main reason yields are compressed in areas like Cantonments, Airport Residential, and Ridge is that buyers pay steep premiums for prestige, security, and proximity to embassies, but tenants are not willing to pay proportionally higher rents.
Buying a property in a low-yield area is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Ghana.
Which areas have the lowest vacancy in Ghana as of 2026?
As of early 2026, the top three neighborhoods with the lowest residential vacancy rates in Ghana are Spintex, Dzorwulu, and East Legon, where strong access, amenities, and job proximity keep units filled quickly.
The estimated vacancy rate range in these low-vacancy areas like Spintex, Dzorwulu, and East Legon falls between 3% and 6%, well below Ghana's average of 8%.
The main demand driver that keeps vacancy low in these areas is their combination of reliable transport access, nearby retail and services, and proximity to employment nodes that attract young professionals and families.
The trade-off investors typically face when targeting these low-vacancy areas is that purchase prices tend to be higher, which compresses yields and means you sacrifice cash flow for occupancy stability.
Which areas have the most renter demand in Ghana right now?
The top three neighborhoods currently experiencing the strongest renter demand in Ghana are Airport Residential Area, East Legon, and Spintex, where jobs, schools, and lifestyle amenities converge.
The type of renter profile driving most of the demand in these areas includes young professionals, corporate employees, expat families, and middle-class households seeking reliable utilities and manageable commutes.
Rental listings in these high-demand neighborhoods like Airport Residential, East Legon, and Spintex typically get filled within two to four weeks when priced correctly, compared to several months in less desirable areas.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Ghana.
Which upcoming projects could boost rents and rental yields in Ghana as of 2026?
As of early 2026, the top three upcoming projects expected to boost rents in Ghana are the Accra-Tema Motorway expansion, TDC's affordable housing delivery in Tema, and the ongoing National Affordable Housing Programme pipeline.
The neighborhoods most likely to benefit from these projects include Spintex, Teshie, Nungua, parts of Tema, and the Airport-area periphery, all of which will see improved access or increased area visibility once projects complete.
Investors might realistically expect rent increases of 5% to 15% in affected corridors once the Accra-Tema Motorway expansion is completed, as reduced commute times make these neighborhoods more attractive to tenants.
You'll find our latest property market analysis about Ghana here.
Get fresh and reliable information about the market in Ghana
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What property type should I buy for renting in Ghana as of 2026?
Between studios and larger units in Ghana, which performs best in 2026?
As of early 2026, studios and one-bedroom apartments perform best in terms of rental yield and occupancy in Ghana because they attract the widest tenant pool and have the lowest purchase prices relative to rent.
The typical gross rental yield for studios in Ghana ranges from 8% to 11% (roughly GHS 800 to 1,500 monthly rent, or USD 50 to 95, or EUR 45 to 85), compared to 6% to 8% for larger two-to-three bedroom units.
The main factor that explains why studios outperform larger units in Ghana is that the math simply works better: smaller units cost less to buy, but rents don't drop proportionally, so yield per cedi invested is higher.
One scenario where larger units might be the better investment choice in Ghana is when targeting family tenants who tend to stay longer, reducing turnover costs and providing more stable, predictable income over time.
What property types are in most demand in Ghana as of 2026?
As of early 2026, one-to-two bedroom apartments are the most in-demand property type in Ghana because they match the housing needs of young professionals, couples, and small households who make up the bulk of urban renters.
The top three property types ranked by current tenant demand in Ghana are one-to-two bedroom apartments, two-to-three bedroom houses or townhouses in commuter areas, and compact units in gated communities with reliable utilities.
The primary demographic trend driving this demand pattern in Ghana is rapid urbanization combined with a growing young workforce seeking affordable housing close to employment centers in Greater Accra.
One property type that is currently underperforming in demand in Ghana is the oversized luxury villa, which has a limited tenant pool and often sits vacant for extended periods unless priced aggressively below market.
What unit size has the best yield per m² in Ghana as of 2026?
As of early 2026, unit sizes between 25 and 50 square meters deliver the best gross rental yield per square meter in Ghana, as compact studios and efficient one-bedrooms command the highest rent relative to their footprint.
The typical gross rental yield per square meter for these optimal-sized units in Ghana ranges from GHS 15 to 30 per square meter monthly (approximately USD 1 to 2, or EUR 0.90 to 1.80), depending on location and finishes.
The main reason larger units tend to have lower yield per square meter in Ghana is that tenants pay a premium for essential living space but are less willing to pay proportionally more for additional rooms they may not fully use.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Ghana.
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 costs cut my net yield in Ghana as of 2026?
What are typical property taxes and recurring local fees in Ghana as of 2026?
As of early 2026, the main property-related tax in Ghana is the 8% residential rent income tax, which on a typical rental earning GHS 2,000 monthly (about USD 125 or EUR 115) works out to GHS 160 monthly or GHS 1,920 annually.
Beyond the rent income tax, landlords in Ghana must also budget for local assembly property rates, which vary significantly by district but typically add another GHS 500 to 2,000 annually (USD 30 to 125, or EUR 28 to 115) depending on property value and location.
Together, these taxes and fees typically represent around 10% to 15% of gross rental income in Ghana, which is a meaningful chunk that many new investors underestimate.
By the way, we cover all the hidden fees and taxes in our property pack covering the real estate market in Ghana.
What insurance, maintenance, and annual repair costs should landlords budget in Ghana right now?
The estimated annual landlord insurance cost for a typical rental property in Ghana ranges from GHS 1,000 to 3,000 (approximately USD 60 to 190, or EUR 55 to 175), depending on property value and coverage level.
The recommended annual maintenance and repair budget in Ghana is 8% to 12% of annual rent collected, or roughly 1% to 2% of property value, which covers routine upkeep and minor repairs.
The type of repair expense that most commonly catches landlords off guard in Ghana is backup power and water system maintenance, including generator servicing, inverter replacements, water tank cleaning, and pump repairs.
The total combined annual cost landlords should realistically budget for insurance, maintenance, and repairs in Ghana is approximately GHS 5,000 to 15,000 (USD 310 to 940, or EUR 285 to 865), depending on property type and age.
Which utilities do landlords typically pay, and what do they cost in Ghana right now?
In Ghana, landlords of apartments and condos in gated communities typically pay service charges covering security, compound maintenance, shared generator fuel, and water system upkeep, while tenants pay metered electricity and water where sub-metering exists.
The estimated monthly cost for landlord-paid utilities and service charges in a typical Ghana rental unit ranges from GHS 300 to 800 (approximately USD 19 to 50, or EUR 17 to 46), though this can spike during power outages when generator use increases.
What does full-service property management cost, including leasing, in Ghana as of 2026?
As of early 2026, the estimated monthly property management fee for full-service management in Ghana ranges from 8% to 12% of monthly rent collected, which on a GHS 2,000 rent works out to GHS 160 to 240 monthly (USD 10 to 15, or EUR 9 to 14).
The typical leasing or tenant-placement fee charged on top of ongoing management in Ghana is approximately one month's rent, sometimes charged to the landlord and sometimes to the tenant depending on the negotiated deal.
What's a realistic vacancy buffer in Ghana as of 2026?
As of early 2026, landlords in Ghana should set aside approximately 8% to 10% of annual rental income as a vacancy buffer to account for turnover and time between tenants.
The typical number of vacant weeks per year landlords experience in Ghana is around four to five weeks, though this can stretch to six or seven weeks in outer-growth areas with higher tenant turnover or when new affordable housing supply enters the market.
Buying real estate in Ghana can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Ghana, we always rely on the strongest methodology we can and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Ghana Revenue Authority (GRA) | GRA is Ghana's official tax authority, so its rates are the final word on rental income taxation. | We used the 8% residential rent income tax rate to convert gross yields to realistic net yields. We also used it to quantify the tax drag that landlords often underestimate. |
| Public Utilities Regulatory Commission (PURC) | PURC is the statutory regulator that sets electricity and water tariffs in Ghana. | We used it to anchor utility cost pressure as of January 2026. We translated tariff changes into what landlords and tenants typically feel in monthly operating costs. |
| Ghana News Agency (GNA) | GNA is a national wire service that reports directly from official releases. | We used it as a cross-check on the magnitude of the January 2026 tariff changes for electricity and water. We used it to avoid relying on a single document interpretation. |
| Ghana Statistical Service (GSS) | GSS is the official producer of CPI, inflation, and core national statistics in Ghana. | We used it to ground rent dynamics in official inflation data. We used it as a macro reality check against private market observations. |
| Trading Economics | Trading Economics is a widely used data platform that clearly attributes its series to official sources like GSS. | We used it to quickly reference the housing and utilities CPI series as a proxy for rent-and-bills pressure. We always tied it back to GSS as the original source. |
| Bank of Ghana (BoG) | BoG is Ghana's central bank, and its sector reports frame housing within credit, inflation, and financial stability. | We used it for country context on how housing behaves alongside rates and financing conditions. We used it to keep yield conclusions consistent with Ghana's macro setting. |
| Knight Frank | Knight Frank is a globally recognized real estate consultancy with established research standards. | We used it to validate what's happening in Accra's residential market regarding pricing and demand. We used it to explain why yields compress in prime neighborhoods. |
| Ghana Investment Promotion Centre (GIPC) | GIPC is a government agency whose sector reports compile data from major institutions and investors. | We used it to frame where real estate demand is coming from, including urbanization and investment activity. We used it to justify why the Accra-Tema corridor dominates investable rental stock. |
| Ministry of Works and Housing | This is an official ministry document describing Ghana's state housing programme. | We used it to explain how affordable housing supply can change rent growth in outer Accra. We used it as a pipeline signal for neighborhoods likely to see new stock. |
| Ministry of Roads and Highways | This is a primary government source for major transport infrastructure projects in Ghana. | We used it to connect infrastructure to rental demand, since commute time is a key rent driver in Accra. We used it to identify corridors where access improvements can support rents. |
| 3News | 3News is a major Ghanaian news outlet reporting on active public works projects. | We used it to timestamp project progress as of early 2026. We used it to support neighborhood-level demand expectations along the motorway corridor. |
| Citi Newsroom | Citi Newsroom is widely read and typically cites interviews and official statements. | We used it to pinpoint a concrete delivery timeline that can affect Tema-area rents and tenant choice. We used it as a near-term supply check on vacancy risk. |
| MeQasa | MeQasa is one of the best-known large property listing marketplaces in Ghana. | We used it as private-sector market evidence for rent and sale price ranges by neighborhood and unit type. We never treat one listing as truth, only as part of a triangulated range. |
| Ghana Property Centre | Ghana Property Centre is a large regional property portal that aggregates listings and publishes market trend pages. | We used it as a second private-market cross-check on pricing levels so we're not relying on one portal. We used it to sanity-check rent-to-price ratios implied by our yield estimates. |
| VAAL Ghana | VAAL Ghana is a property management company that publishes insights on typical landlord costs and services. | We used it to validate property management fee ranges in Ghana. We used it to understand what services landlords typically need and what they cost. |
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