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17 strong forecasts for real estate in Kumasi in 2025

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Authored by the expert who managed and guided the team behind the Ghana Property Pack

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What will happen in Kumasi’s real estate market? Will prices go up or down? Is Kumasi still a hotspot for foreign investors? How is Ghana’s government impacting real estate policies and taxes in 2025?

We’re constantly asked these questions because we’re deeply involved in this market. Through our work with local developers, real estate agents, and clients who buy properties in Kumasi, we’ve gained firsthand insights.

That’s why we created this article: to provide clear answers, insightful analysis, and a well-rounded perspective on market predictions and forecasts.

Our goal is simple: to ensure you feel informed and confident about the market without needing to look elsewhere. If you think we missed the mark or could do better, we’d love to hear your thoughts. Feel free to message us with your feedback or comments, and we’ll work hard to improve this content for you.

How this content was created 🔎📝

At The Africanvestor, we study the Kumasi real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers throughout the place. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

When working on this content, we started by gathering insights from these conversations and our own observations. But we didn’t stop there. To make sure our predictions are reliable, we also dug into trusted sources like the World Bank, McKinsey, and the Ministry of Finance Ghana (among many others).

We are committed to accuracy and authority. Any forecast lacking strong backing from reliable data or expert opinions was set aside. For the forecasts that pass our initial screening (meaning, we consider there is enough solid data to consider them credible), we take things a step further by incorporating insights from trusted real estate blogs, industry publications, and expert analyses. This additional information helps us gain a clearer perspective without compromising reliability. Naturally, we also draw on our own experience and knowledge.

Trustworthiness is key to us. Clear citations are provided throughout this article, allowing you to see exactly where our information comes from. To ensure our explanations are easy to read and engaging, we used an AI-powered writing tool—but only for this specific purpose.

To make the data even more accessible, our design team created custom infographics that highlight key trends and comparisons. We hope you find them helpful.

Finally, every illustration, screenshot, and other non-text media was produced in-house and added manually.

If you think we could have done anything better, please let us know. You can always send a message. We answer in less than 24 hours.

1) Rent prices in central Kumasi will rise as demand for city living stays high

Rent prices in central Kumasi have surged in recent years, reflecting a strong demand for urban living.

Between 2022 and 2024, the cost of renting a single-room self-contained apartment in Kumasi jumped from GH₵150 to between GH₵350 and GH₵400. This sharp rise in rental costs highlights the growing demand for housing in the area. Kumasi's urban landscape is changing rapidly, with more people flocking to the city for its opportunities and lifestyle.

The Greater Kumasi Metropolitan Area has seen a boom in urban growth, with the city expanding significantly over the years. This urban sprawl has led to increased population density, naturally driving up the demand for housing as more people move into the city. The bustling city life and economic prospects are major draws for new residents.

Adding to the city's appeal is the development of new amenities and infrastructure. Projects like the Kumasi Urban Mobility and Accessibility Project are making the city more attractive. This initiative aims to improve public transportation and urban planning, enhancing the overall living experience in Kumasi and drawing more people to the area.

With these improvements, Kumasi is becoming a hotspot for those seeking a vibrant urban lifestyle. The city's transformation is not just about buildings and roads; it's about creating a place where people want to live and thrive. As Kumasi continues to grow, the demand for housing is expected to remain strong, keeping rent prices on the rise.

For potential property buyers, understanding these dynamics is crucial. The ongoing development and increasing population make Kumasi a promising place for investment. As the city evolves, the demand for urban living is likely to keep pushing rent prices upward.

Sources: The Business & Financial Times, World Bank, Bank Information Center

2) Mid-range property prices will drop slightly as more affordable options emerge

In Ghana, affordable housing projects are on the rise, reshaping the property market landscape.

With initiatives like the Kpone Affordable Housing Project and the Urban Premier Housing Project, more budget-friendly homes are becoming available. This surge in affordable options is starting to influence the overall market dynamics.

The government is actively supporting these developments through programs like the District Housing Programme, which provides rental housing for public servants. This effort is increasing the supply of affordable homes, making mid-range properties less appealing.

Buyers are also shifting their focus. Many are now prioritizing affordable housing, as seen in consumer surveys and media reports. This change in preference is causing a slight dip in mid-range property prices as affordability becomes a key factor.

Economic conditions are adding to this trend. With inflation and reduced purchasing power, buyers are seeking more cost-effective options. This economic pressure is further decreasing the demand for mid-range properties.

As affordable housing becomes more accessible, mid-range properties face increased competition, leading to potential price adjustments.

Sources: Ministry of Finance Ghana, Norada Real Estate, FazWaz Ghana

infographics rental yields citiesKumasi

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.

3) More foreign investors will target Kumasi as its economy grows and stabilizes

Foreign buyers are eyeing Kumasi for its booming economy and stability.

Ghana's economy is on the rise, with GDP growth showing positive trends thanks to stronger domestic demand. This makes Kumasi a hot spot for investment. The city is buzzing with new infrastructure, like the completion of the Kumasi Lake Road and Drainage Extension in 2024, which has improved urban mobility and living conditions. These upgrades make Kumasi even more appealing to investors.

Transport efficiency is getting a boost with new bypasses along the Accra-Kumasi Highway, crucial for business operations. Kumasi's Sustainable Urban Mobility Plan (SUMP) is also in the works, aiming to enhance public transportation and non-motorized transport. This plan not only improves city connectivity but also supports real estate development tied to sustainable infrastructure, catching the eye of foreign investors.

The city's middle-class population is on the rise, expected to reach 4.2 million by 2030. This demographic shift signals a growing demand for rental properties and real estate investments. With Kumasi's economic growth, foreign buyers see lucrative opportunities.

Sources: GNBCC, Mobilise Your City, Warren Street Wealth

4) Blockchain will make property transactions quicker and safer by streamlining the process

Blockchain is revolutionizing the real estate industry, making property transactions faster and more secure.

In Dubai, a blockchain-based system for property transactions has made the market more transparent and less prone to fraud, attracting more investors. Switzerland's BrickMark also made waves with a major token-based real estate deal, showing how blockchain offers greater flexibility for investors.

Sweden's pilot project revealed that blockchain can cut transaction times from months to days, a huge time-saver for buyers and sellers. Deloitte reports that blockchain can slash transaction costs by up to 30% by removing middlemen and automating tasks.

Security is a big plus with blockchain. Immutable records mean transaction data is accurate and unchangeable, reducing fraud risks. Smart contracts add another layer of security by automating agreements, ensuring transactions are both secure and transparent.

Sources: Nyala, Savvycom Software, Legittai, Primior

5) Luxury property yields will drop as the market gets flooded with high-end options

In Kumasi, luxury property development has skyrocketed in recent years.

Projects like Kensington Heights, part of the Airport City Kumasi development, have introduced a wave of high-end apartments and hotels to the market. This influx has made the luxury real estate scene more competitive, with many options now available for potential buyers.

As more luxury properties pop up, rental yields are taking a hit. The supply is starting to outstrip demand, which means property owners are finding it tough to keep rental prices high. This trend is making it a bit more challenging to see the returns investors might have expected.

Real estate agencies are noticing these shifts too. HDG Homes, a major player in Kumasi, has pointed out the need to diversify due to saturated conditions in Accra. This could be a hint of what's happening in Kumasi as well, where the market is showing signs of slowing down.

With luxury properties taking longer to sell, it's clear that the market is cooling off. This slowdown is contributing to the decline in yields, as properties sit on the market for extended periods.

For those considering investing in Kumasi's luxury real estate, it's crucial to be aware of these dynamics. The market is evolving, and understanding these trends can help in making informed decisions.

Sources: Landmark Homes, JLL, B&FT Online

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6) Luxury property prices in central Kumasi will level off as the market becomes saturated

The luxury property market in central Kumasi is seeing a surge in available homes.

In 2023 and 2024, the number of luxury homes listed jumped to 37, with an average price of ₵4,274,542. This increase in supply hints at a saturated market, which often leads to price stabilization. If you're considering buying, this could mean more options and potentially steadier prices.

There's also been a slowdown in high-end property sales. While detailed reports from real estate agencies are scarce, the combination of more homes and slower sales suggests the market is cooling off. This is a typical sign that prices might not rise as quickly as before.

Another clue is that luxury listings are taking longer to sell. When homes sit on the market for a while, it usually means demand isn't matching supply, reinforcing the idea of a saturated market. This could be good news for buyers looking for a deal.

For those eyeing a property in Kumasi, this trend might mean more negotiating power. With more homes available and sales slowing, sellers might be more open to offers. It's a buyer's market, so take your time to find the right fit.

Keep an eye on these trends if you're in the market for a luxury home in Kumasi. The current conditions suggest that prices could stabilize as the market reaches saturation.

Sources: African Property Magazine, MSCI, meQasa

7) Rental yields in Kumasi will rise as more people choose renting over buying

Rental yields in Kumasi are on the rise as more people choose to rent instead of buy.

Kumasi is experiencing a boom in urbanization, with a population of about 3.9 million in 2024 and growing at a rate of 3.59% annually. This influx of people is naturally driving up the demand for rental properties. As the city expands, more folks are looking for places to live, and renting becomes the go-to option.

Buying a home in Kumasi is becoming less affordable due to rising property prices. With a population density of 13,022 people per square kilometer, the cost of purchasing a home is steep, nudging more people towards renting. The city's population is expected to hit 4.8 million by 2031, further fueling the rental market as more people migrate here for job opportunities.

The transient workforce, drawn by job prospects and events like the Ghana Career and Migration Fair 2024, often opts for renting. These individuals aren't necessarily looking to settle down permanently, so renting offers the flexibility they need. Plus, with the high cost of living in Kumasi, renting is a more practical choice for many.

As Kumasi continues to grow, the demand for rental properties is likely to keep climbing. The city's rapid urbanization and the influx of people seeking jobs make renting an attractive option. This trend is expected to persist, making the rental market in Kumasi a promising investment opportunity.

Sources: World Population Review, The BFT Online, Ministry of Finance Ghana

8) Demand for high-quality homes will rise as more Ghanaians abroad show interest

Interest from the Ghanaian diaspora in high-quality residential properties is on the rise.

In 2023, Ghana saw a whopping $4.6 billion in remittances from its diaspora. This influx of cash gives Ghanaians abroad the financial muscle to invest back home, especially in real estate. The demand for top-notch homes is climbing as a result.

The Ghana-Diaspora Home Purchase Expo in 2024 was a game-changer. It brought together Ghanaians and other black communities from abroad with real estate experts. The expo was a showcase of exciting housing schemes and investment opportunities, sparking even more interest in property investment among the diaspora.

The government's Diaspora Engagement Policy is another big draw. It’s all about creating a friendly environment for investments, encouraging the diaspora to bring their skills and money back to Ghana. This policy is actively pushing for real estate investments, making it easier for the diaspora to dive into the property market.

Media reports are buzzing about the trend of diaspora members returning to Ghana. They’re not just coming back; they’re putting their money into real estate, which is a clear sign of the growing interest in high-quality residential properties.

Sources: GNBCC, Graphic Online, Ghanaian Times

statistics infographics real estate market Kumasi

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.

9) Suburban rent prices will drop slightly as new housing developments are finished

Kumasi is experiencing a boom in housing development permits, especially in its suburban areas.

As these new homes pop up, landlords are finding themselves in a bit of a competition to attract tenants. This means that rent prices might see a slight dip because tenants now have more choices. The media has been buzzing about the surge in new housing projects in Kumasi's suburbs, which is a clear sign of this growing supply.

Experts in the real estate market often say that when there's an oversupply of housing, rent prices tend to drop. Landlords have to adjust their prices to make sure their properties don't sit empty. Plus, there's a noticeable trend where more people are leaning towards urban living, which means fewer folks are looking to rent in the suburbs.

With this shift in demand, suburban landlords might need to rethink their pricing strategies. The increase in housing supply, combined with the urban living trend, is likely to put some downward pressure on suburban rent prices. So, if you're considering buying property in Kumasi, especially in the suburbs, this could be a good time to explore your options.

Keep an eye on these developments, as they could offer some interesting opportunities for potential buyers. The landscape is changing, and with more housing options available, the dynamics of the rental market are shifting.

Sources: The Business & Financial Times, Prophunt Ghana, The Mortgage Point

10) New construction will slow down in some areas due to stricter property development regulations

Stricter regulations on property development are making it harder to build new homes in some areas.

In Kumasi, the local government has ramped up its oversight, enforcing building codes more rigorously. This means that projects not meeting these new standards face delays or outright rejections. The Kumasi Metropolitan Assembly's efforts to improve land use management have led to more stringent enforcement, which is slowing down construction.

Getting a building permit has turned into a lengthy, bureaucratic process. Many developers in Kumasi are so frustrated that they’re building without permits, which has resulted in a high rejection rate for building permits. This shows how the tighter regulations are indeed putting the brakes on new construction.

New zoning laws are also playing a part in this slowdown. These laws aim to manage the city's growth better but can be quite restrictive for developers. They limit where and how new buildings can be constructed, adding another layer of complexity to the process.

Developers in Kumasi are likely voicing concerns about these regulatory hurdles. Meeting the new requirements is costly, and this financial burden is significant. Reports of delays in construction project approvals further illustrate how these regulations are impacting the pace of new developments.

All these factors combined are making it clear that stricter regulations are a major obstacle for developers, slowing down the construction of new properties.

Sources: Open JICA Report, CORE

11) Demand for luxury apartments in Ahodwo will rise as expats look for upscale living options

Ahodwo district is quickly becoming the go-to spot for luxury apartments.

One of the main attractions is the development of high-end amenities and infrastructure. Take The Kensington Heights, for instance, which offers luxury suites with exclusive features like rooftop gardens and swimming pools. This kind of upscale living is drawing attention from those who want more than just a place to stay.

Real estate trends are also pointing in the same direction. Recent reports highlight a steady growth in luxury housing demand in local markets like Kumasi. This is great news for Ahodwo, as it suggests a promising future for luxury property investments.

Another factor driving this trend is the influx of expatriates moving to Kumasi. Many are here for business or diplomatic reasons, and they’re on the lookout for upscale living options that meet their lifestyle needs. The presence of international companies in the city is a big draw for these expatriates.

With more expatriates arriving, the demand for luxury apartments is only going to increase. They’re not just looking for a place to live; they want a home that offers comfort and convenience in a vibrant community.

Ahodwo is perfectly positioned to meet this demand, making it a prime location for those interested in investing in luxury real estate. The district’s appeal is only set to grow as more people discover what it has to offer.

Sources: anaarkutu.com, naahq.org, thebftonline.com

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12) Demand for modern, tech-enabled apartments will grow as more young professionals move in

Kumasi is seeing a surge of young professionals moving in, thanks to job opportunities.

With the Youth Employment Agency surpassing its 2023 goals by 16%, more young people are flocking to Kumasi. This influx naturally boosts the demand for housing, especially in urban areas where these professionals prefer to live.

Every day, over 500,000 shoppers flood Kumasi's Central Business District, highlighting the city's bustling economic activity. This urbanization trend is driving the need for modern apartments, as more people want to live close to where the action is.

The tech industry in Kumasi is booming, with companies like HERMES-SOFT TECHNOLOGIES attracting tech-savvy individuals. These professionals often seek out living spaces with modern amenities, such as high-speed internet and smart home systems.

The local government's smart city initiatives are a perfect match for these preferences, as they align with the features offered by tech-enabled apartments. This makes Kumasi an attractive place for young professionals looking for modern living spaces.

As more young professionals settle in Kumasi, the demand for tech-enabled apartments is expected to rise, driven by their need for modern amenities and proximity to work and leisure activities.

Sources: The BFT Online, Ghana Job, WBG KGGTF

13) Demand for affordable student housing will rise as the student population grows

The growing student population in Kumasi is driving up the demand for affordable student housing.

Universities like Kwame Nkrumah University of Science and Technology (KNUST) are seeing more applications for graduate studies, which means more students need places to live. This trend shows a rising interest in higher education, and it's not just KNUST; the whole Kumasi Metropolitan Assembly (KMA) is buzzing with educational activity.

Kumasi is home to over 1000 schools, from pre-school to tertiary levels, which means the student population is definitely on the rise. With the metro area population expected to grow from 3,903,000 in 2024 to 4,036,000 by 2025, there's a clear increase in potential students. This growth is putting pressure on the housing market.

But here's the catch: there's not enough student accommodation to go around. Kumasi's high population density and its bustling commercial scene make it tough for students to find affordable places to stay. The areas around universities are seeing rental prices go up because of the demand.

Local real estate agents are getting more inquiries for student rentals, which highlights the urgent need for more affordable housing options. It's a challenge, but also an opportunity for those looking to invest in the property market.

With the student numbers climbing, the demand for affordable housing is only going to increase. This is a trend that potential property buyers should keep an eye on.

Sources: MoFEP, KNUST, NMHC, Macrotrends

14) Demand for homes with office spaces will grow as remote work becomes more common

Remote work is booming in places like Kumasi, changing how people think about their homes.

In 2023 and 2024, job postings for remote roles like "Remote UM Pharmacy Technician" and "Head of Pricing- Forecasting & Optimization" increased significantly, showing that working from home is becoming the norm in the region. This shift means people are now looking for homes that can accommodate their work needs.

As more folks in Kumasi set up shop at home, homes with dedicated office spaces have become hot property. This isn't just happening locally; around the world, there's a rush for home office furniture and gear, pointing to a global trend of needing practical workspaces at home.

Architects in Kumasi are catching on, too. New home designs are now more likely to include dedicated office spaces, making them more appealing to remote workers. Real estate agents are probably seeing more buyers asking for these features, as having a good workspace at home is now a must.

Sources: Remote People, The Muse, Kumospace

infographics comparison property prices Kumasi

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.

15) Demand for homes near parks and recreational spaces will grow because wellness is becoming more popular

In 2023 and 2024, there's a noticeable shift towards wellness-focused living environments.

People are now keen on homes that offer easy access to parks and recreational facilities, as these spaces are crucial for a healthy lifestyle. In Kumasi, for instance, the Ghana Real Estate Market Report 2022 highlights a trend where home designs are integrating wellness features like meditation areas and yoga courts, reflecting a growing preference for well-being-oriented living.

Public parks and trails are being developed in Kumasi as part of a larger effort to enhance urban green spaces, making properties in these areas more appealing to potential buyers. This initiative not only boosts the attractiveness of these properties but also aligns with the global trend of prioritizing wellness in real estate choices.

Globally, wellness is a top priority for many, with McKinsey's research indicating that a significant number of consumers in the US, UK, and China consider it important. This mirrors the situation in Kumasi, where the demand for wellness-focused real estate is on the rise, driven by the presence of wellness and fitness centers.

Media coverage on the benefits of living near parks further fuels this demand, as people become more aware of the positive impact of green spaces on their well-being. The trend is clear: properties with access to parks and recreational facilities are becoming increasingly desirable.

As urban areas continue to develop, the focus on wellness will likely drive more people to seek out homes that offer these amenities, making it a key consideration for anyone looking to invest in property. Wellness is not just a trend; it's becoming a fundamental aspect of modern living.

Sources: Ghana Real Estate Market Report 2022, McKinsey

16) Property interest in Manhyia will drop because of historical preservation restrictions

The Manhyia area is steeped in history, which means strict rules on what you can do with properties there.

These rules can be a headache for property owners who want to make changes, and this lack of flexibility might turn off potential buyers. People generally prefer places where they can renovate or develop without jumping through hoops.

Surveys have shown that buyers lean towards areas with fewer restrictions because they offer more freedom for renovations and development. This trend could mean less interest in Manhyia, where following preservation laws can be tricky and expensive.

Media reports and stories from property owners in Manhyia talk about the hurdles of owning property there. The slow pace of development and modernization adds to these challenges, making other areas more attractive for investment.

Potential buyers might find the complex and costly compliance with preservation laws in Manhyia a deal-breaker. They could be more inclined to invest in areas with fewer restrictions, where they can modernize and develop more freely.

All these factors suggest that interest in Manhyia properties might decline as buyers look for more flexible options elsewhere.

Source: MOFEP

17) Property sales in Tafo will slow down as congestion and traffic problems deter buyers

Traffic congestion in Tafo is becoming a real headache for anyone thinking about buying property there.

Even though Kumasi saw a 30% drop in road crashes in 2023, it doesn't mean the roads are any less clogged. Tafo, with its accident-prone spots, still faces serious traffic issues that make getting around a hassle.

The 2024 Sustainable Urban Mobility Plan highlights how big trucks and poor traffic management are jamming up the central business district. This ripple effect is felt in Tafo, where longer travel times are becoming the norm, making life tougher for both residents and those eyeing new homes.

The Kumasi Metropolitan Assembly points out that bad road maintenance and lack of transport options are adding to the congestion woes. Tafo, being part of the metro area, isn't spared from these problems, which are often the talk of the town on social media and in the news.

Potential buyers are wary, as these traffic headaches are a big turn-off. The daily grind of navigating through Tafo's congested roads is enough to make anyone think twice about settling down there.

Sources: KMA Budget Report, Asaase Radio, Sustainable Urban Mobility Plan

While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.