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Property prices in Accra vary significantly based on location, property type, and your investment goals, with prime areas commanding $250,000-$400,000 for two-bedroom apartments while emerging neighborhoods offer opportunities from $70,000-$150,000.
As of September 2025, the Accra real estate market presents diverse opportunities for both investors and residents, with rental yields ranging from 7-12% and property appreciation averaging 5-10% annually. Understanding your budget, financing options, and target neighborhoods is crucial for making informed decisions in this dynamic market.
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Property prices in Accra range from $70,000 for emerging area apartments to $400,000+ for luxury units in prime locations like Cantonments and Airport Residential.
Total investment costs typically add 25-35% above listed prices when factoring in legal fees, stamp duty, renovations, and other expenses.
| Property Type | Prime Areas Price Range | Emerging Areas Price Range | Typical Rental Yield | Best Investment Purpose |
|---|---|---|---|---|
| 2-Bedroom Apartment | $250,000 - $400,000 | $70,000 - $150,000 | 8-10% | Short/Long-term rental |
| 3-Bedroom Apartment | $350,000 - $500,000 | $100,000 - $200,000 | 7-9% | Family residence |
| Townhouse | $400,000 - $600,000 | $150,000 - $250,000 | 7-9% | Expat families |
| Detached House | $500,000 - $1,000,000+ | $200,000 - $350,000 | 6-8% | Personal residence |
| Serviced Apartment | $300,000 - $450,000 | $120,000 - $180,000 | 9-12% | Airbnb/Short-term |
| Land/Plot | $200 - $500/sqm | $50 - $150/sqm | N/A | Development/Flipping |
What's your main goal for buying property in Accra - living in it, renting it out, or flipping it?
Your investment strategy in Accra's property market depends entirely on your primary objective and desired flexibility between different uses.
If you're planning to live in the property, focus on secure neighborhoods with good amenities like Cantonments, East Legon, or Ridge. These areas offer stable property values, excellent infrastructure, and proximity to international schools and healthcare facilities. Plan for long-term ownership as transaction costs make frequent moves expensive.
For short-term rental income through Airbnb or serviced apartments, target locations near business districts, the airport, and entertainment areas. Airport Residential, Cantonments, and East Legon command the highest nightly rates ($120-$400 per night) with occupancy rates between 65-85%. These properties generate gross rental yields of 8-12% annually.
Long-term rental investments perform best in established expatriate neighborhoods like Cantonments, Labone, and Ridge where international companies, NGOs, and diplomatic missions house their staff. Monthly rents range from $1,800-$4,000 for quality properties, providing more stable income streams with 7-10% gross yields.
Property flipping works best in emerging areas like Tema Community 25, Oyibi, and Adenta where prices are appreciating 7-10% annually. You can also target distressed assets in prime locations for value-add opportunities, though capital gains taxes and transaction costs reduce profitability.
Serviced apartments and condos in mixed-use developments offer maximum flexibility, allowing you to switch between personal use and rental income as circumstances change.
How much money do you need upfront and what financing options are available?
Property investment in Accra requires substantial upfront capital, with most foreign buyers needing to pay cash due to limited mortgage options.
Typical down payment requirements range from 20-30% of the property value if you can access financing. For diaspora Ghanaians, some banks offer USD-denominated mortgages with rates around 11.5% for up to 15-year terms. Non-resident foreigners face significant restrictions, with most banks requiring full cash payments.
Property price ranges vary dramatically by location. Two-bedroom apartments in prime areas like Cantonments and Airport Residential cost $250,000-$400,000, while similar properties in emerging neighborhoods like Tema or Adenta range from $70,000-$150,000. Three-bedroom units command $350,000-$500,000 in prime locations and $100,000-$200,000 in developing areas.
Beyond the headline property price, budget an additional 25-35% for transaction costs. Legal fees typically run 3-5% of the purchase price, stamp duty adds 0.25-1%, and registration fees can reach $2,000. If using an agent, expect 3-5% in commission fees. Don't forget renovation and furnishing costs of $10,000-$30,000 for quality fitouts, plus a 5-10% contingency fund.
For example, a $250,000 apartment requires a total budget of $285,000-$320,000 after all costs. If accessing a USD mortgage as diaspora with 25% down, you'd need $75,000 upfront plus closing costs, with monthly payments around $2,350 for the remaining $187,500 over 15 years.
Which property types work best for your investment goals in Accra?
| Property Type | Best Investment Purpose | Key Advantages | Typical Price Range | Management Level |
|---|---|---|---|---|
| Apartment/Condo | Rental income, low maintenance | High tenant demand, easy to rent, shared services | $70,000 - $400,000 | Low to Medium |
| Serviced Apartment | Maximum flexibility, Airbnb | Ready tenant base, hassle-free management | $120,000 - $450,000 | Very Low |
| Townhouse | Family residence, expat rentals | More space, privacy, garden areas | $150,000 - $600,000 | Medium |
| Detached House | Personal residence, long-term appreciation | Land ownership, prestige, privacy | $200,000 - $1,000,000+ | High |
| Land/Plot | Development, speculation | High appreciation potential, lower entry cost | $50 - $500/sqm | Very High |
Apartments and condos dominate investor preferences in 2025 due to their strong rental demand and relatively low maintenance requirements. These properties attract both short-term visitors and long-term expatriate tenants, making them versatile investment vehicles.
Serviced apartments represent the premium end of the rental market, offering furnished units with housekeeping and security services. These properties command higher rents and occupancy rates, particularly in business districts and near the airport.
Townhouses appeal primarily to expatriate families and affluent locals seeking more space than apartments provide. While maintenance costs are higher, they often appreciate faster than apartments due to land value components.
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Which neighborhoods should you target and how do they compare?
Accra's property market divides into distinct neighborhood categories, each offering different investment profiles and price points.
Prime luxury areas include Cantonments, East Legon, and Airport Residential, where two-bedroom apartments cost $250,000-$400,000. These neighborhoods attract diplomats, senior expatriates, and wealthy locals due to excellent security, infrastructure, and proximity to international amenities. Annual price appreciation averages 8-10% with rental yields of 8-10%.
Mid-tier established areas like Ridge, Labone, and Osu offer two-bedroom apartments for $175,000-$300,000. These locations provide good value for money with annual appreciation of 7-9% and rental yields matching prime areas. They're particularly popular with NGO workers and middle management expatriates.
Emerging high-growth areas include Tema Community 25, Adenta, and Oyibi, where properties start from $70,000-$150,000. These suburbs experience rapid development with new infrastructure projects driving 7-10% annual appreciation. Rental yields can reach 8-12% due to lower purchase prices, though tenant quality may vary.
Tema Community 25 stands out among emerging areas due to its planned development, proximity to the port, and growing expatriate population. New residential projects from major developers offer modern amenities at fraction of prime area costs.
Adenta and Oyibi represent the fastest-growing suburbs, benefiting from improved road networks and affordable land prices. These areas attract young professionals and growing families seeking larger properties at reasonable prices.
What size property do you need and what are the price ranges per square meter?
Property sizes in Accra follow standard configurations, with prices varying significantly by location and build quality.
Two-bedroom apartments typically measure 90-120 square meters and represent the sweet spot for rental investments. These units attract both couples and small families, ensuring steady tenant demand across different market segments.
Three-bedroom apartments range from 120-180 square meters and appeal primarily to expatriate families and affluent locals. These properties command higher absolute rents but may have longer vacancy periods due to smaller target market.
Houses typically start at 200 square meters for smaller townhouses and can exceed 300 square meters for detached properties. Larger houses primarily serve owner-occupiers rather than rental investors due to higher maintenance costs and limited tenant pool.
Price per square meter in prime areas like Cantonments and Airport Residential ranges from $1,200-$2,000+ as of September 2025. These areas offer the highest build quality from reputable developers with full amenities and professional management.
Emerging neighborhoods like Tema and Adenta offer prices of $700-$1,200 per square meter. While build quality varies more widely, major developers like Devtraco and Clifton Homes maintain high standards in their projects.
New serviced apartment developments consistently offer the highest build quality and specifications, though at premium pricing. These properties include fitted kitchens, modern bathrooms, and comprehensive building services.
What's the total cost including all fees, taxes, and additional expenses?
The true cost of property acquisition in Accra extends well beyond the advertised price, typically adding 25-35% to your initial budget.
Legal fees represent the largest additional cost at 3-5% of the purchase price. For a $250,000 apartment, expect $7,500-$12,500 in legal costs covering due diligence, contract preparation, and transaction completion. These fees are non-negotiable and essential for proper title verification.
Stamp duty adds 0.25-1% to your costs depending on property value, while registration fees typically reach $2,000. These government charges cannot be avoided and must be paid during the transaction process.
Real estate agent commissions vary from 3-5% and may be split between buyer and seller depending on market conditions. In seller's markets, buyers often pay the full commission, while buyer's markets see sellers covering these costs.
Property preparation costs include renovation and furnishing expenses of $10,000-$30,000 for quality standards expected by rental tenants. Even new properties often require customization to meet specific tenant preferences or rental market standards.
Ongoing annual costs include Homeowners Association fees of $1,200-$2,000, property taxes at approximately 1% of assessed value, and insurance premiums. Budget an additional 5-10% contingency fund for unexpected expenses during the transaction process.
For a $250,000 apartment example, total costs break down as follows: Purchase price $250,000, legal fees $10,000, stamp duty $2,000, agent commission $12,500, renovation $20,000, contingency $15,000, totaling $309,500 in actual investment.
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What mortgage rates and terms can you expect in Ghana today?
Mortgage financing in Ghana presents significant challenges for foreign buyers, with limited options and high interest rates characterizing the current market.
Diaspora Ghanaians represent the most favored foreign buyer category, with access to USD-denominated mortgages at approximately 11.5% fixed rates for terms up to 15 years. These loans typically require 20-30% down payments and proof of foreign income sources. Monthly payments on a $200,000 mortgage over 15 years would approximate $2,350 excluding property taxes and insurance.
Local borrowers face significantly higher rates on Ghana Cedi mortgages, ranging from 21-26% annually due to inflation and currency risks. These high rates make property ownership challenging for many local buyers, supporting rental market demand.
Non-resident foreigners without Ghanaian heritage face severe restrictions, with most banks requiring full cash payments. Some specialized expat banking products are emerging, particularly from international banks like Access Bank, but these remain limited in scope and availability.
Mortgage eligibility requires substantial documentation including income verification, bank statements, employment letters, and credit reports from home countries. The approval process typically takes 2-3 months with extensive property valuation and legal verification requirements.
Alternative financing options include developer financing for new projects, though these arrangements often carry higher costs and shorter terms. Some sellers offer owner financing for premium properties, particularly in markets with extended selling periods.
What rental income can you expect from short-term versus long-term rentals?
| Area & Property Type | Short-term (Airbnb) Rate | Occupancy Rate | Long-term Monthly Rent | Gross Rental Yield |
|---|---|---|---|---|
| Prime Apartment (2BR) | $120-$200/night | 65-85% | $1,800-$2,500 | 8-10% |
| Prime House (3BR) | $200-$400/night | 60-80% | $3,000-$4,000 | 7-9% |
| Budget Apartment (2BR) | $40-$80/night | 60-75% | $600-$900 | 8-12% |
| Serviced Apartment (2BR) | $150-$300/night | 70-85% | $2,200-$3,200 | 9-12% |
| Emerging Area House (3BR) | $60-$120/night | 55-70% | $800-$1,200 | 8-10% |
Short-term rental yields peak in Airport Residential, Cantonments, and East Legon due to business traveler demand and proximity to key amenities. Premium properties can achieve $200-$400 nightly rates during peak periods, though seasonal variations affect annual occupancy.
Long-term rentals provide more stable income streams with lower management requirements. Expatriate tenants typically sign 1-2 year leases with advance payments, reducing vacancy risks and cash flow interruptions.
Net rental yields after deducting HOA fees, property taxes, maintenance, and vacancy allowances typically range from 7-12% depending on location and management efficiency. Professional property management companies charge 8-12% of gross rental income but can significantly improve occupancy rates and tenant quality.
Currency considerations affect rental yields, with USD-denominated rents preferred for expatriate tenants but Cedi rents more common for local tenants. Exchange rate fluctuations can impact returns for foreign investors receiving Cedi-denominated rental income.
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 are the pros and cons of different investment strategies?
Each property investment approach in Accra offers distinct advantages and challenges that align with different investor profiles and market conditions.
Buying to live in provides asset security, lifestyle benefits, and protection against inflation. You'll build equity while enjoying your investment and avoid rental payments to others. However, ongoing maintenance costs, reduced flexibility for relocation, and property illiquidity represent significant drawbacks. Transaction costs make frequent moves expensive, potentially trapping you in unsuitable properties.
Short-term rental strategies generate higher yields and provide flexibility for personal use during visits. Properties can be adjusted quickly for market changes and often appreciate faster due to income generation capability. The downside includes seasonal income variations, intensive management requirements, and potential regulatory changes affecting Airbnb operations. Guest turnover increases wear and tear while requiring constant attention to bookings and maintenance.
Long-term rental investments offer stable monthly income with lower management intensity and reduced vacancy risks. Tenant relationships provide predictable cash flows and allow for property improvements over time. However, yields are generally lower than short-term rentals, and currency risk affects returns for foreign investors. Tenant disputes and property damage represent ongoing concerns requiring local management capability.
Property flipping can generate substantial returns in appreciating markets, particularly in emerging areas experiencing rapid development. Leverage opportunities allow for higher returns on invested capital when executed successfully. However, capital gains taxes, extended holding periods, and market timing risks significantly impact profitability. Transaction costs reduce net returns while market downturns can eliminate profits entirely.
Most successful investors in 2025 pursue hybrid strategies combining short and long-term rentals or holding for medium-term appreciation of 3-5 years. This approach balances income generation with capital appreciation while maintaining some flexibility for strategy adjustments.
What recent sales data shows about current market conditions?
Recent comparable sales in Accra reveal active market conditions with reasonable negotiation opportunities for informed buyers.
A two-bedroom apartment in Airport Residential listed at $300,000 sold for $285,000 after two months on market. The seller included kitchen appliances and agreed to cover some closing costs to facilitate the sale. This 5% discount reflects typical negotiation range in prime areas where demand remains strong but buyers have some leverage.
In East Legon, a three-bedroom property listed at $450,000 eventually closed at $425,000 after three months of marketing. The buyer negotiated a $10,000 renovation credit for minor repairs and cosmetic updates. The extended time on market reflected the property's premium pricing relative to comparable units in the area.
Emerging areas show more significant price flexibility, with a new-build two-bedroom in Tema Community 25 listed at $120,000 selling for $112,000 after just 1.5 months. The developer covered all legal fees and registration costs, effectively providing additional value beyond the purchase price reduction.
Seller concessions vary by market segment and property condition. Prime area sellers typically offer minor concessions like appliance inclusion or legal fee assistance, while emerging area developers provide more substantial incentives to attract buyers. Properties requiring renovation often sell at 5-15% discounts depending on required work scope.
Time on market ranges from 1-6 months depending on pricing accuracy and property condition. Well-priced properties in desirable locations sell within 2-3 months, while overpriced or problematic properties may remain available for extended periods, eventually requiring price reductions.
How have property prices changed and what's driving the market?
Accra property prices have shown consistent upward trends over recent years, driven by fundamental supply and demand imbalances.
Over the past five years (2020-2025), prime area properties appreciated 20-25% cumulatively. This represents approximately 4-5% annual growth, outpacing inflation and providing real returns for property owners. The growth rate accelerated in 2023-2024 due to increased foreign investment and limited new supply in established neighborhoods.
Year-over-year price growth in 2024-2025 reached 5-8%, with emerging areas experiencing the highest appreciation rates. Tema Community 25 and Adenta led price growth due to infrastructure improvements and new development projects attracting professional families.
Several key factors drive Accra's property market growth. Rapid urbanization continues as rural populations migrate to the capital seeking economic opportunities. The city's population growth outpaces housing supply, creating persistent demand pressure on available inventory.
Diaspora and expatriate demand significantly influences market dynamics. Returning Ghanaians and foreign professionals working in oil, gas, mining, and international organizations compete for quality housing, driving prices upward in preferred neighborhoods. Foreign exchange earnings from these buyers support USD-denominated property transactions.
Limited new supply in established areas constrains inventory growth. Land availability and development restrictions in prime neighborhoods prevent rapid supply expansion, while construction costs have increased due to imported materials and skilled labor shortages.
The foreign exchange hedge effect attracts investors seeking asset protection against local currency devaluation. Property ownership provides protection against Cedi depreciation while generating rental income in hard currency from expatriate tenants.
What's the outlook for Accra property prices and how does it compare to other cities?
Property market forecasts for Accra indicate continued growth driven by urbanization trends and limited supply in desirable locations.
Base-case projections for 2025-2026 anticipate 5-10% annual price appreciation across most property segments. Prime areas may see more moderate growth due to higher absolute prices, while emerging neighborhoods could experience accelerated appreciation as infrastructure improvements increase accessibility.
Five-year outlook (2025-2030) suggests 25-40% cumulative price growth, particularly benefiting suburban and mid-market properties. Infrastructure investments including road improvements, utility expansion, and planned developments should support sustained appreciation in currently emerging areas.
Ten-year projections remain positive based on continued urban population growth and infrastructure investment. Political stability and economic development will significantly influence these outcomes, with potential for both upside and downside scenarios depending on policy implementation.
Rental demand should remain robust throughout the forecast period. Expatriate populations in energy, mining, and international development sectors provide stable tenant bases, while growing middle-class Ghanaian households support domestic rental markets.
Compared to regional peers, Accra offers compelling value propositions. Prime area prices of $1,200-$2,000 per square meter compare favorably to Lagos ($1,500-$3,000), Nairobi ($800-$2,500), and Abidjan ($1,000-$2,200). Rental yields of 7-12% exceed most regional markets while maintaining reasonable entry costs for foreign investors.
However, Accra lags behind Cairo and Johannesburg in market liquidity and transaction ease. These markets offer more developed financing options, transparent legal frameworks, and established international investor participation. As Ghana's financial markets develop, these gaps should narrow over time.
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.
Accra's property market in September 2025 presents diverse opportunities for both investors and residents, with careful planning essential for success.
Understanding total costs, financing limitations, and neighborhood dynamics will determine your investment's ultimate profitability and satisfaction.