Ghana’s real estate market is growing fast. More people are moving to cities, and the demand for apartments is increasing. More people are moving to cities, and the demand for apartments is increasing. Buying an apartment in Ghana is a good investment because property values are rising. Many people also prefer apartments because they are more affordable than houses and offer better security.

Apartments are popular in cities like Accra, Kumasi, and Takoradi. They come in different sizes, from small studios to luxury penthouses. Some buyers purchase apartments to live in, while others rent them out to earn money.

This guide will help you understand everything about buying an apartment in real estate in Ghana Africa. It will cover the best locations, prices, legal steps, and investment opportunities. Whether you want a home or an investment property, this guide will help you make the right choice.

Why Buy an Apartment in Ghana?

Many people in Ghana prefer to buy apartments instead of houses. Apartments offer several benefits, making them a smart choice for homebuyers and investors.

1. Affordability

Apartments are usually cheaper than houses. Buying a house in Accra can cost over $200,000, while a modern apartment can cost between $50,000 and $150,000. This makes apartments a more affordable option for many buyers.

2. Security and Convenience

Most apartment buildings have security guards, gated entrances, and CCTV cameras. This makes them safer than standalone houses. Apartments also have water supply, electricity backup, and maintenance services, which make life easier for residents.

3. Growing Investment Opportunities

Buying an apartment in Ghana can be a great investment. Many people rent apartments, especially in busy cities like Accra and Kumasi. Investors can earn money by renting out their apartments long-term or through short-term rental services like Airbnb.

4. Prime Locations

Apartments are often located in central areas close to offices, schools, and shopping malls. Areas like East Legon, Cantonments, and Airport Residential are in high demand because they are close to businesses and entertainment spots.

5. Easy Maintenance

Apartment buildings usually have a management team that takes care of maintenance. Owners do not have to worry about gardening, cleaning common areas, or fixing major repairs. This makes apartment living more convenient.

6. Flexible Payment Plans

Many real estate developers in ghana offer installment payment plans. Buyers can pay for their apartments over time instead of paying the full amount upfront. Some banks also provide mortgages, making it easier to own a home.

Buying an apartment in Ghana is a smart decision for people who want a secure, affordable, and convenient place to live or invest.

Types of Apartments for Sale in Ghana

Apartments in Ghana come in different sizes and styles. Buyers can choose based on their budget, lifestyle, and needs. Here are the most common types of apartments available:

1. Studio Apartments

A studio apartment is a small, single-room apartment with a combined bedroom, living area, and kitchen. It is best for single professionals, students, or short-term renters. These apartments are usually the cheapest option, with prices starting at $20,000 in some areas.

2. One-Bedroom Apartments

A one-bedroom apartment has a separate bedroom, a living room, a kitchen, and a bathroom. It offers more privacy than a studio and is ideal for young professionals or couples. Prices range from $30,000 to $100,000, depending on the location.

3. Two-Bedroom Apartments

A two-bedroom apartment is a popular choice for small families or professionals who need extra space. These apartments usually come with two bathrooms, a kitchen, and a living area. Prices range from $50,000 to $200,000 in prime areas.

4. Three-Bedroom Apartments

A three-bedroom apartment offers more space and comfort. It is suitable for families or investors who want to rent to tenants. Some luxury three-bedroom apartments come with balconies, modern kitchens, and extra storage space. Prices start at $80,000 and can go up to $300,000 in high-demand areas.

5. Luxury Apartments

Luxury apartments are found in high-end neighborhoods like Cantonments, Airport Residential, and Labone. They offer modern designs, high-quality materials, swimming pools, gyms, and concierge services. These apartments attract wealthy buyers and investors, with prices starting from $200,000 to over $1 million.

6. Serviced Apartments

A serviced apartment is a fully furnished apartment with hotel-like services. These apartments are ideal for business travelers and short-term renters. They include cleaning, laundry, and security services. Investors often buy serviced apartments for Airbnb and short-term rentals. Prices start at $80,000 and can exceed $300,000 in prime areas.

7. Duplex Apartments & Penthouses

  • Duplex Apartments – These apartments have two floors, offering more space and privacy. They are common in high-end developments.

  • Penthouses – These are luxury apartments on the top floor of a building. They have the best views and high-end features.

Ghana offers many apartment options for different budgets and lifestyles. Whether you need a small studio or a high-end penthouse, there is a property that fits your needs.

Best Locations to Buy an Apartment in Ghana

The location of an apartment affects its price, value, and convenience. Some areas in Ghana are great for luxury living, while others offer affordable housing. Below are the best places to buy an apartment in Ghana:

1. Accra – The Capital City

Accra is the most popular city for apartment buyers. It has modern infrastructure, business centers, and entertainment spots. The best areas include:

  • East Legon – A high-class area with luxury apartments, restaurants, and business offices. Prices range from $100,000 to over $500,000.

  • Airport Residential Area – Close to Kotoka International Airport. This area is perfect for professionals and expatriates. Prices start at $150,000.

  • Cantonments – One of Accra’s most secure and expensive neighborhoods. It has embassies, international schools, and modern apartments. Prices range from $200,000 to $1 million.

  • Spintex – A middle-class area with affordable apartments starting from $50,000. It has shopping malls and schools.

  • Osu – A lively area with many businesses, restaurants, and hotels. Prices start at $100,000 for modern apartments.

2. Kumasi – A Growing Real Estate Market

Kumasi, Ghana’s second-largest city, is a great option for buyers looking for cheaper apartments. Some good locations include:

  • Ahodwo – A prime area with modern apartments starting at $70,000.

  • Asokwa – Close to businesses and schools. Apartments cost between $50,000 and $150,000.

  • Daban – A fast-growing residential area with new apartment developments. Prices start at $40,000.

3. Tema – A Planned City

Tema is an industrial city near Accra. It has a well-planned road network and affordable apartments. Prices start at $30,000 in developing areas.

4. Takoradi – A Business Hub

Takoradi has a strong oil and gas industry. Many professionals and expatriates rent apartments here. Prices range from $40,000 to $200,000.

5. Affordable Suburbs Around Accra

For buyers looking for cheaper options, the following suburbs offer good deals:

  • Oyibi – Developing area with apartments starting at $20,000.

  • Kasoa – Fast-growing town with affordable apartments starting at $25,000.

  • Pokuase – Offers apartments from $30,000 with easy access to Accra.

Which Location is Best for You?

  • If you want luxury, choose Cantonments, Airport Residential, or East Legon.

  • If you want affordability, choose Oyibi, Kasoa, or Pokuase.

  • If you want good rental income, choose Osu, Spintex, or Takoradi.
Choosing the right location depends on your budget, lifestyle, and investment goals.

Cost of Buying an Apartment in Ghana

The price of an apartment in Ghana depends on location, size, and quality. Luxury apartments cost more, while affordable options exist in developing areas. Below is a breakdown of apartment prices in Ghana.

1. Price Ranges Based on Location

Luxury Areas (Cantonments, Airport Residential, East Legon, Labone)

  • Studio Apartment – $80,000 to $150,000

  • One-Bedroom Apartment – $100,000 to $250,000

  • Two-Bedroom Apartment – $150,000 to $400,000

  • Three-Bedroom Apartment – $250,000 to over $1 million

Mid-Range Areas (Spintex, Achimota, Sakumono, Tema)

  • Studio Apartment – $30,000 to $60,000

  • One-Bedroom Apartment – $50,000 to $100,000

  • Two-Bedroom Apartment – $80,000 to $150,000

  • Three-Bedroom Apartment – $120,000 to over $250,000

Affordable Areas (Oyibi, Kasoa, Pokuase, Adenta, Amasaman)

  • Studio Apartment – $20,000 to $40,000

  • One-Bedroom Apartment – $30,000 to $60,000

  • Two-Bedroom Apartment – $40,000 to $90,000

  • Three-Bedroom Apartment – $70,000 to over $150,000

2. Additional Costs to Consider

When buying an apartment, you need to budget for extra costs. These include:

  • Legal Fees – $500 to $2,000 for hiring a lawyer.

  • Land Registration Fees – 1% to 3% of the apartment price.

  • Agency Fees – If you use a real estate agent, they may charge 3% to 10% of the price.

  • Property Taxes – Annual fees paid to the government based on the apartment’s value.

  • Service Charges – Monthly fees for security, maintenance, and utilities in gated apartments (can be $50 to $500 per month).

3. Payment Options

Outright Purchase
Buyers can pay the full amount upfront. This is the fastest way to own an apartment.
Installment Plans
Some real estate developers allow buyers to spread payments over months or years. A buyer may need to pay a 30% to 50% deposit, then pay the rest over time.
Mortgage (Home Loan) Options
Banks and financial institutions offer mortgages to help buyers. The interest rate is usually between 12% and 25% per year. Some banks that offer mortgages in Ghana include:
  • Stanbic Bank
  • Ecobank Ghana
  • Fidelity Bank
  • Republic Bank

4. Comparing Costs: Buying vs. Renting

  • Renting a one-bedroom apartment in Accra costs $300 to $1,000 per month.
  • Renting a three-bedroom apartment costs $800 to $3,000 per month.
  • Buying an apartment can be cheaper in the long run because the value of real estate increases over time.

Legal Process of Buying an Apartment in Ghana

Buying an apartment in Ghana involves legal steps to ensure the property is genuine and free from disputes. Following the correct process helps buyers avoid scams and ownership problems.

1. Verify Property Ownership

Luxury Areas (Cantonments, Airport Residential, East Legon, Labone)

  • Land Title Certificate – Proves legal ownership of the land.
  • Indenture or Lease Agreement – Shows the lease period and terms of ownership.
  • Site Plan – Describes the exact location of the apartment.
  • Tax Clearance Certificate – Confirms that the seller has paid property taxes.

You can verify these documents at the Lands Commission of Ghana to ensure they are valid.

2. Hire a Lawyer

A real estate lawyer will check the documents, draft contracts, and ensure the transaction is legal. Legal fees usually range from $500 to $2,000, depending on the lawyer’s experience.

3. Negotiate and Sign the Sale Agreement

Once the documents are verified, the buyer and seller sign a Sale and Purchase Agreement. This contract includes:

  • Details of the apartment (location, size, and features).
  • Agreed price and payment terms.
  • Responsibilities of both the buyer and seller.

4. Make Payments

The buyer pays the agreed amount through bank transfer or mortgage financing. It is important to get a receipt and proof of payment for records.

5. Register the Property at the Lands Commission

After payment, the buyer must register the property with the Lands Commission of Ghana. This process involves:

  • Submitting the sale agreement, title documents, and proof of payment.
  • Paying registration fees (usually 1% to 3% of the property value).
  • Receiving the updated Land Title Certificate in the buyer’s name.

6. Pay Property Taxes

All property owners must pay annual property taxes to the Ghana Revenue Authority (GRA). The tax amount depends on the location and value of the apartment.

7. Obtain Utility Connections

After completing registration, the buyer must transfer utility services like water and electricity to their name. This ensures smooth access to services.

Common Legal Issues to Avoid

When buying an apartment in Ghana, legal issues can arise if proper checks are not done. Some properties lack proper documentation, making ownership disputes common. Fake sellers may attempt to sell apartments they do not own, so verifying ownership with the Lands Commission is crucial. Additionally, some properties are involved in legal battles, which can delay or prevent a successful purchase. Buyers should also be cautious of apartments built on government land, as these can be reclaimed by authorities. To avoid these risks, always check legal documents, work with a lawyer, and ensure proper registration before making any payments.

Benefits of Buying an Apartment as an Investment

Buying an apartment in Ghana is a smart investment. Property values increase over time, and owners can earn money from rentals. Here are the main benefits of investing in an apartment.

1. Property Value Appreciates Over Time

Apartments in Ghana increase in value as demand for housing grows. In cities like Accra, Kumasi, and Takoradi, property prices rise by 5% to 15% per year. This means an apartment bought for $100,000 today could be worth $150,000 in a few years.

2. Earn Rental Income

Many people rent apartments in Ghana, especially in urban areas. Property owners can earn rental income every month. Average rental prices in Accra include:

  • One-bedroom apartment – $300 to $1,000 per month
  • Two-bedroom apartment – $500 to $2,000 per month
  • Three-bedroom apartment – $800 to $3,500 per month

Luxury apartments in areas like Cantonments and Airport Residential attract high rental prices.

3. Short-Term Rentals (Airbnb) Are Profitable

Tourists, business travelers, and expatriates prefer short-term rentals over hotels. Listing an apartment on Airbnb or Booking.com can bring $50 to $300 per night depending on the location.

4. Steady Demand for Housing

Ghana’s population is growing, and more people need homes. Cities like Accra and Kumasi are expanding, creating a strong demand for apartments. Investors can sell or rent their apartments at good prices.

5. Secure Investment

Unlike stocks or businesses, real estate is a tangible asset that does not lose value easily. Property investments provide long-term financial security.

6. Flexible Payment Options

Many developers offer installment plans, making it easier to buy an apartment. Buyers can also use mortgages to spread payments over several years.

7. Passive Income After Retirement

Owning rental properties provides a steady income stream during retirement. Monthly rent payments help cover living expenses.

8. No Rent Payments

Buying an apartment means you own your home and avoid paying rent. This saves money in the long run.

9. Ability to Sell Anytime

If property prices rise, owners can sell their apartments and make a profit. Apartments in high-demand areas sell quickly.

10. Potential for Business Use

Some apartments can be used for offices, guest houses, or serviced apartments, increasing earning potential.

Buying an apartment in Ghana is a valuable investment, whether for personal living, rental income, or resale profit. The country’s real estate market continues to grow, making property ownership a smart financial decision.

However, to ensure a smooth and successful purchase, buyers must follow the right steps. Researching different locations, verifying property documents, and working with a real estate lawyer are essential to avoid scams and legal issues. Additionally, inspecting the apartment in person and considering its long-term investment potential can help buyers make informed decisions.

Apartments in key areas such as Accra and Kumasi appreciate in value over time, offering both financial security and a comfortable home. Whether you plan to live in the apartment or use it as a source of income, taking the right approach will ensure a profitable and stress-free purchase.

FAQs

1. What is the average price of an apartment for sale in Ghana?

The price of an apartment in Ghana depends on the location, size, and amenities. In Accra, a one-bedroom apartment costs between $40,000 and $100,000, while a two-bedroom apartment ranges from $60,000 to $250,000. Luxury apartments in prime areas like Cantonments and Airport Residential can cost over $500,000.

2. Can foreigners buy apartments in Ghana?

Yes, foreigners can legally buy apartments in Ghana. However, most land in Ghana operates under a leasehold system, meaning buyers lease the land for a specific period (usually 50 to 99 years). Foreign buyers should work with a lawyer to ensure all documents are valid and properly registered.

3. What are the best locations to buy an apartment in Ghana?

The best locations depend on budget and purpose. Accra has high-end areas like Cantonments, East Legon, and Airport Residential that are ideal for luxury living and investment. Spintex, Tema, and Sakumono offer more affordable options. In Kumasi and Takoradi, apartments are generally cheaper but still provide good investment opportunities.

4. What legal documents do I need when buying an apartment in Ghana?

Buyers must check and verify several key documents, including the Land Title Certificate, Sale and Purchase Agreement, Lease Agreement, Building Permit, and Tax Clearance Certificate. It is essential to register the property with the Lands Commission to confirm ownership.

5. How can I finance an apartment purchase in Ghana?

Buyers can finance an apartment through personal savings, bank mortgages, developer payment plans, or real estate investment partnerships. Several banks in Ghana offer mortgages with repayment terms of 10 to 20 years, but eligibility depends on income and credit history.

6. Is buying an apartment in Ghana a good investment?

Yes, buying an apartment in Ghana is a good investment. Property values in key areas increase by 5% to 15% annually, and rental demand remains high, especially in cities like Accra and Kumasi. Short-term rentals like Airbnb also generate high returns, making apartments a profitable asset for long-term financial growth.

7. Is buying land for sale in Ghana a good investment?

Yes, purchasing land for sale Ghana can be a lucrative investment due to rising property values and urban expansion

8. What are the benefits of investing in real estate Ghana West Africa?

Investing in real estate Ghana West Africa offers numerous advantages, including a stable economy, rising property values, and high rental yields. Cities like Accra and Kumasi are seeing rapid urbanization, making them ideal for long-term investments or rental income opportunities.