Houses for sale in Accra Ghana

The city of Accra has undergone a remarkable transformation over the past few decades, especially in terms of Houses. From unplanned smaller settlements to well-designed high-rise buildings and exclusive gated communities, the architectural landscape of Accra is truly one of the most beautiful in West Africa.

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Houses for sale and for rent in Accra

Check out the latest Houses for sale and for rent in Accra. Search for more in our search tool above.

 

And it is no surprise that people choose the city as a place to live or simply visit for pleasure just because of the comfortable urban living it presents. So, whether you are in the market for apartments, semi-detached or detached houses, or townhouses to buy in Accra, the Houses for sale in Accra Ghana website is the best place to begin your search. Our website has the largest database of listings in Accra from trusted Housing developers and realtors who have been carefully vetted to find you the best deals on the market.
 

So what’s Accra living really like? And what are the current Housing trends in the city of Accra? What are some of the things to keep in mind when buying houses for sale in Accra? All your valid questions about Houses in Accra and in Ghana are answered below, so read on to find out! 

 

 

 

Overview of Accra Ghana

 

Accra, being the capital of Ghana, also happens to be the largest city in the country in terms of population. It is the heart of Ghana and also the gateway to the country in the sense that the largest and for the longest time, the only international airport is in Accra. Accra is the first city that travellers who arrive in the country by air visit before moving on to any other place
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The Accra we know today is a city of contrasts, where traditional and modern elements coexist. It's a city that's rapidly evolving, facing both challenges and opportunities as it grows. Its role as a cultural, economic, and political centre makes it a vital part of Ghana's national identity and a key player in the West African region.


Previously, neighbourhoods like East Legon and Spintex were largely undeveloped with outdated houses and infrastructure but today, with the help of estate developers and modern architectural designs, the picture has dramatically changed. Today, Accra is a hub of commercial activity and development, but this growth comes with a few challenges for its residents.
 

Challenges of living in Accra

 

All over the world, living in major cities in each country comes with some sort of common challenge and Accra is not an exception. The city lays some challenges on its residents, which is considered the price to pay for staying in the largest city in the country where the opportunities for businesses and individuals are abundant.


Apart from the high cost of properties and standard of living, the city is grappling with congestion, especially evident during weekdays when traffic becomes intensely congested in the morning and at the end of the workday. Commuting from Accra Central to areas like Amrahia or Oyarifa can take upwards of two hours, highlighting the need for infrastructural improvements.

 

The Housing Market in Accra

 

The Housing market in Accra mirrors the country’s rapid urbanization. There has been a significant shift from underdeveloped lands to a city where the demand for housing continually outstrips supply. The housing deficit in Accra is at its peak and continues to rise, signalling a critical need for intervention from both the government and individuals.

 

Substantial investment needed in Accra Housing Market

 

Although Accra's housing market has had a massive facelift over the past few years, it still requires a substantial investment that extends beyond government funding. With its rapid growth and escalating housing demands, the city presents great investment opportunities for real estate investors.

 

Current Trends in Accra's Housing Market

 

Investing in Housing in Ghana requires smart decisions and one way investors can make such decisions is by understanding the current trends in the industry. The housing market in Accra is undergoing dynamic changes, shaped by factors like the popularity of short-term rentals, the shift towards apartment living, the movement towards the city's outskirts, and the critical need for affordable housing. These trends reflect the evolving needs and preferences of residents and investors in Accra's property market, highlighting both challenges and opportunities in the sector.
 

Rise of Short-Term Rentals


Short-term rentals, particularly through platforms like Airbnb and Bookings.com, have gained popularity in upscale areas such as East Legon, Cantonments, Airport Residential Area, Ridge, Spintex (Manet Area), and Dzorwulu. These areas are some of the most sought-after due to their proximity to key amenities and business districts.
This trend has also seen a rise in local real estate agents and property managers specializing in short-term rentals, catering to both tourists and business travellers seeking flexible and more affordable accommodation options.

 

Shift Towards Apartments


Most Home developers in Accra are increasingly favouring the construction of apartments over townhouses. With land prices in Accra increasing by the day, the development of apartments is more financially viable for developers, allowing them to maximize the use of limited land space. Since apartments are sold at either the same prices as townhouses or even more, the ROI is either the same or can sometimes be higher.
 

 

Preference for Smaller, Furnished Apartments


Recently, there has been a growing demand for studios and 1-bedroom apartments, reflecting the needs of individuals and small families. These types of properties are also quite affordable for individuals who wish to stay close to the business districts but cannot afford larger spaces. 
Furnished apartments, particularly those with a maximum of 2 bedrooms, are also increasingly popular, offering convenience for renters who prefer move-in-ready options and travellers who will be staying for months.
 

 

Migration to Outskirts of Accra 
 

People are gradually moving to the outskirts of Accra, such as Kwabenya, Oyibi, Nsawam, Kasoa, and Amasaman. These areas offer more affordable housing options compared to the city centre. This trend is partly due to the high cost of living in central Accra and the desire for less congested and affordable living conditions.
 

 

Demand for Affordable Homes
 

Ghana is being faced with a housing deficit and one of the implications has been the high cost of properties, which the average income-earning Ghanaian will most likely not be able to afford. For this reason, most homebuyers tend to look for cheaper homes. Hence, there is a notable interest in homes that are modern but inexpensive, indicating a market segment that desires quality housing without a high price tag.
 

 

Impact of Economic Factors on Housing in Accra

 

The housing market in Accra is influenced by a complex interplay of economic, social, and political factors. These elements play a crucial role in shaping the availability, affordability, and quality of housing in the city. Here are some key impacts and economic factors affecting housing in Accra:
 

 

Economic Growth and Urbanization


Accra's status as a commercial hub with diverse opportunities attracts people from other parts of Ghana, leading to rapid urbanization. This influx, in turn, increases the demand for residential properties all over the city. And as the city's economy grows, there's a corresponding rise in the middle and upper-class populations with a demand for better houses.

 

Land Prices and Land Availability
 

The high demand for land in prime areas of Accra by estate developers, especially Cantonments, Airport Residential Area, East Legon, Roman Ridge, Dzowulu, Osu, Labadi, Tse-Addo, East Airport and Labone, where prices range between $1 million and $200,000 per plot, has led to escalating land prices, making it difficult for average-income earners to afford housing in these areas.
Also, the complexity of acquiring land and registering for title deeds in Ghana can lead to disputes and uncertainties, affecting housing development as well as prices.

 

Inflation and Interest Rates


 

High inflation rates can lead to increased costs of construction materials, labour, and other inputs, which in turn raise the prices of new homes. And recently, Ghana has been facing extremely high inflation rates, thereby causing an increase in property prices. Additionally, high-interest rates on mortgages and loans (sometimes over 30%) make it challenging for many people to opt for mortgages to finance their property acquisition.
 

 

Government Policies and Regulations 


Government policies regarding land use, building regulations, and housing finance significantly impact the housing market. For instance, government regulations permit foreigners to own land but only for 50 years, which can sometimes deter foreigners from buying land for housing purposes or force them into going into partnerships with local developers.
 

 

Foreign Investment and Diaspora Influence
 

Real estate investment from foreign entities can drive up property values in the sense that most foreign developers price their properties in Dollars rather than Cedis and seeing how the Cedi performs poorly against the dollar, property prices automatically tend to be high. The diaspora market also influences the types of houses built, their prices, and the overall market dynamics.
 

 

Socio-Economic Disparities


A larger percentage of Ghana’s population falls below middle-income earners. While a few earn above average, most people earn below average, and this significant income disparity means that while some can afford luxury houses, a large portion of the population struggles to find affordable or cheaper housing options.
 

 

Technological Advancements


Advances in construction technology, such as AI, can help in finding ways of reducing building costs and time, potentially making houses more affordable even for the average income-earning Ghanaian. Also, online Housing and Homes platforms like Houses for sale in Accra Ghana, Real Estate In Ghana, and OWNHM have made it easier to find and purchase property with some of the best deals on the market.

 

Latest News on Housing in Accra Ghana

Regular news on Houses for Sale and For Rent in Accra Ghana. We also address issues like Housing Deficits in Accra, etc


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