Accra real estate investment (2025 – 2026): Comparing rental yields vs. property appreciation

Ghana’s economy provides a strong foundation for real estate growth. In 2024, the country’s GDP increased by 5.7%, surpassing expectations. Growth is expected to stabilize between 4% and 5.8% in 2025 and 2026 as fiscal reforms continue.

Despite challenges such as inflation and high interest rates, investor confidence remains strong. Fitch recently upgraded Ghana’s credit rating to B- with a stable outlook, showing that international investors trust the country’s progress.

Accra continues to attract multinational companies and international organizations, which drives ongoing demand for premium residential, commercial, and logistics properties.

Currency volatility is one of the biggest risks for investors in Ghana. With inflation projected at 18.4% in mid-2025, pricing properties in USD has become the preferred option.

This approach protects investors from exchange losses that could exceed 33%, ensuring that appreciation reflects true market value rather than inflation. USD pricing also aligns with import and construction costs, making it easier for investors to repatriate profits safely.

Accra offers better returns than most African cities. In places like Nairobi or Cape Town, average gross rental yields range between 4% and 6%. In contrast, Accra provides 8% to 11%, and the mid-tier market reaches up to 12%.

Cantonments remains one of Accra’s most desirable and stable neighbourhoods. It is home to diplomats, NGOs, and executives who prefer long-term leases and secure environments.

• Average property price: $1,500 to $2,000 per square meter
  
• Rental yields: 7% to 8%
  
• Projected appreciation: 38% by 2027

With limited land and consistent demand, Cantonments are the best option for long-term wealth preservation and stable growth.

Airport Residential Area is Accra’s top-performing cash flow zone, driven by business travellers and corporate clients.

• Average daily rate: $172
  
• Occupancy rate: above 78%
  
• Gross yields: 19% to 22%

Investors in this area often recover their capital within five to seven years. Some developments have recorded 70% to 90% price growth within five years, combining short-term income with strong capital appreciation.

The industrial sector has shown significant resilience, supported by Ghana’s expanding trade activity, particularly around Tema Port.

• Yields: 11% to 14%
  
• Average warehouse rate: about $14 per pallet monthly

These properties are directly tied to trade and logistics, providing reliable, high-yield income with reduced market volatility.

Retail real estate continues to thrive due to Ghana’s growing consumer base. Household spending is expected to increase from $55 billion in 2021 to $81 billion by 2025.

• Average retail yield: 12.5%
  
• Example: Accra Mall maintains high occupancy and premium rental rates

Retail assets are ideal for investors looking for stable, consumer-driven income.

Accra’s position as the headquarters of the African Continental Free Trade Area (AfCFTA) continues to drive demand for Grade A office spaces.

• Average rental rate: $25 to $28 per square meter monthly

This sector attracts multinational corporations that seek quality office infrastructure and long-term leases.

Infrastructure development is one of the strongest drivers of property value growth in Accra. Projects such as the Accra to Tema Motorway expansion and the Pokuase Interchange have already increased property prices in nearby areas.

• Spintex: Offers 9% to 10% yields and 25% growth in five years, combining cash flow and appreciation.
  
• Tema Community 25: Achieves 8% to 10% annual appreciation with occupancy rates above 90%, driven by infrastructure and port expansion.

These areas are gaining momentum as central Accra becomes more expensive, allowing investors to achieve near-prime returns with moderate capital input.

While large-scale ideas like the Accra SkyTrain Project attract attention, they remain uncertain and lack financial backing. Serious investors should focus on confirmed, ongoing infrastructure projects supported by credible funding.

Land disputes account for about 52% of all court cases in Ghana, making due diligence essential.

• Legal fees: 3% to 10% of property value
  
• Verification: Required with the Lands Commission

The Land Act 2020 (Act 1036) has improved protections and made alternative dispute resolution mandatory before court actions. However, professional verification remains critical before purchase.

• Rental Income Tax: 15% for non-residents, 8% for residents
  
• Capital Gains Tax: 15% on property sale profits
  
• Stamp Duty: 0.25% to 1% of transaction value

These taxes affect total returns and must be included in all investment calculations.

Under Ghana’s Rent Act of 1963, tenants have strong legal protections. Landlords can only reclaim property for specific reasons such as nonpayment, unauthorized subletting, or property damage. Proper lease documentation and professional legal advice are essential to protect rental income and property rights.

Accra’s real estate market runs on two strong engines: high rental income and solid appreciation potential. Successful investors use both to achieve maximum total return.

Accra is one of the most promising real estate markets in West Africa. Its combination of strong yields, rising property values, and USD-denominated pricing offers a reliable path to financial growth.

Whether you are focused on cash flow, appreciation, or balanced portfolio building, Accra offers the data and fundamentals to make your investment count. It is not just a property market; it is an opportunity to build real, lasting wealth.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.