|Last Updated: Jan. 14, 2020|
|ACCRA - Apartments||COST (US$)||YIELD (p.a.)||PRICE/SQ.M. (US$)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|75 sq. m.||197,325||1,751||10.81%||2,591||23.35|
|175 sq. m.||397,775||2,921||8.81%||2,273||16.69|
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Districts researched: Airport Residential Area, Cantonments, Dzorwulu, Labone, Ridge and Osu
The great majority of apartments listed on the web are offplan. The apartments included in this survey are new, some are second hand. Rental apartments are fully furnished.
Source: Global Property Guide
A 75 sq. m apartment would cost about US$200,000, and would rent for around US$1.750 per month, giving a gross rental yield of around 11%. Residential property prices are around US$2,200 per sq. m.
The rental market in Accra is relatively large with 37.5% of all households renting (only 22% for Ghana as a whole). Only about 40.4% of households in Accra claim ownership of their houses (57.4% for Ghana), while another 20.5% live rent-free (19.5% for Ghana). The remaining 1.6% of housing is employer-provided (4.5% for Ghana).
Property transaction costs in Ghana can be high, although in regional terms the total costs of buying and then selling a property are not unreasonable.