Ghana, a country on Africa’s west coast, has seen an increase in real estate development in recent years. The market for apartments for sale in Accra, Ghana’s capital city, has seen significant growth. In this article, we will examine the Ghanaian apartment market, explain the different types of apartments available, and discuss the advantages of investing in this expanding market.
Types of Apartments in Ghana
The Ghanaian apartment market offers a variety of options to meet a variety of needs and preferences. The following are the most common types of apartments for sale in Accra:
Studio Apartments : These are small apartments with one large room that serves as the living area, bedroom, and kitchenette. They are ideal for singles or couples looking for a small living space.
One-Bedroom Apartments: These apartments include a bedroom, living room, and kitchen. They are appropriate for singles, couples, or small families.
Two-Bedroom Apartments: These apartments are equipped with two bedrooms, a living room, and a kitchen. They are ideal for small families or singles.
Three-Bedroom Apartments: There are three bedrooms, a living room, and a kitchen in these apartments. They are appropriate for large families or roommates.
Penthouse Apartments: These are luxurious apartments on a building’s top floor. They frequently have multiple bedrooms, large living areas, and balconies with spectacular views.
Benefits of Investing in Ghanaian Apartments
High Rental Yield: Accra’s flat market is in high demand due to rising population, urbanisation, and economic growth. Because of the high demand, the rental yield is high, making it a profitable investment opportunity.
Affordable Prices: Accra apartments for sale are relatively inexpensive in comparison to other African cities. As a result, it is an appealing option for investors seeking to maximise their returns on investment.
Growing Market: Ghana’s real estate market is expanding at a rapid pace. According to the Ghana Investment Promotion Centre, the real estate sector grew 6.3% in 2020 and is expected to grow further in the coming years.
Stable Political Climate: Ghana has a stable political climate, making it a risk-free investment destination. This stability has aided the growth of the real estate market, making it an appealing destination for foreign investors.
Comparison of Apartments in Accra
| Type of Apartment | Price Range | Size (sq. ft) | Amenities |
|---|---|---|---|
|
Studio Apartment |
30,000 - 60,000 |
300 - 500 |
Kitchenette, living area, bathroom |
|
One-Bedroom Apartment |
50,000 -100,000 |
500 - 800 |
Kitchen, living area, |
|
Two-Bedroom Apartment |
80,000 -150,000 |
800 - 1200 |
Kitchen, living area, two bedrooms, two bathrooms |
|
Three-Bedroom Apartment |
120,000-200,000 |
1200 - 1800 |
Kitchen, living area, three bedrooms, three bathrooms |
|
Penthouse Apartment |
200,000 - 500,000+ |
2000 - 5000+ |
Spacious living area, multiple bedrooms, balconies with views |
In conclusion, the Ghanaian apartment market offers a variety of opportunities for real estate investors. The rising demand for apartments, combined with low prices, high rental yields, and a stable political climate, make it an appealing destination for both domestic and foreign investors. The table above compares the various types of apartments available in
