Rent
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).
In residential areas like East Legon, Airport Hills and Spintex, an average asking price of US$200,000 (GHS840,000) is demanded for a 3-4 bedroom house, on a standard plot.
The average price of a house in Kumasi and Sekondi-Takoradi, stand at US$60,000 (GHS252,000) currently, while Cape Coast and Koforidua have relatively less expensive houses in Ghana, at an average of US$40,000 (GHS168,000).
Foreigners can acquire land for various development activities, for leasehold of 49 years, at the following price ranges (depending on location).
- Residential ----------------------- US$ 5,000 to US$ 150,000 (100’ x 70’)
- Industrial Land ------------------ US$ 30,000 to US$ 150,000 per acre
- Farm Land ------------------------ US$ 35.00 to US$ 50.00 per month
OFFICE RENT
MARKET INDICATORS |
RETAIL(PRIME SPACE)
(50m2-200m2) |
OFFICES |
INDUSTRIAL |
||
A grade |
B grade |
C grade |
|||
Average Net Asking rent |
US$40-US$70 |
US$30-US$35 |
US$18-US$25 |
US$12-US$15 |
US$4-US$7 |
Average Vacancy Rate (%) |
20% |
25% |
25% |
15% |
35% |
Average Yield (%) |
8%-9% |
8.5% |
10% |
13% |
9% |
Source: Brollghana.com
MAIN AGENTS IN THE REAL ESTATE SECTOR
Some property mangers operating in the commercial properties space in Ghana.
Property Developers |
Manet Group |
Regimanuel Gray Ltd |
Devtraco Ltd |
Clifton Homes |
NTHC Properties Ltd |
Civil Engineering & Construction |
Taysec Construction |
Micheletti& Co. Ltd |
De Simone Ltd. |
Consar |
Trasaaco Group |
Design/ Architecture |
Key Architectural Company |
Architectural & Engineering Services Ltd |
Ecobuild Consult Ltd |
|
|
Property Management |
Broll Ghana Ltd |
Sirius Properties |
Stellar Properties |
Cushman & Wakefield Excellerate |
|
Mortgage/ Finance Companies |
GHL Bank |
HFC Bank |
CAL Bank |
Stanbic Bank |
Fidelity Bank |
Property Rentals |
Isaac Anthony Homes |
Gold Key Properties |
Regus Ghana |
|
|
Land Sale Agents |
Castle Gate Estate |
KAS Estate Ghana |
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|
|
Online Sites |
Jumia House |
MeQasa.com |
GhanaFind.com |
OLX.com |
Tonaton.com |
Source: GIPC
RESIDENTIAL ACCOMMODATION
- Average annual rent for expatriates three-bedroom homes ranges from US$ 45,00 to US$ 60,000
- Rents in the Western port town of Takoradi average US$ 5,000 per month, according to data compiled by Broll. Two bedroom facility ranges between GHC250 to GHC 500 per month on the average.
- Rents in Accra, the capital ranges from US$ 300-$ 1500 per month for a two bedroom house depending on the location.
- For house prices the price of a two unit bedroom house with kitchen and washroom range averagely about U$D 50,000(Note prices could be less or more than.