Average Rental Prices: Prime Properties in Accra
The purchase, development, lease and rent of commercial property in Ghana are facilitated by government agencies such as the lands commission Environmental Protection Agency, local authority, and private sector real estate agents. These bodies together ensure approvals, assessments (including environmental assessment), fulfillment of regulatory requirements as well as safe and hassle-free acquisition of properties.
While Ghana’s property development and rental space is dominated by the Private sector the Rent Control department under the Ministry of Works and housing exists to maintain law and order among tenants and property owners guided by the Rent Act of 1963, (Act 220).
Here’s an overview of the Land and real-estate space in Ghana.
| Sector Rental |
| Office US$15 – US$35/m²/month |
| Retail US$25 – US$50/m²/month |
| Industrial US$ 6 – US$15/m²/month |
| Residential (2 bed) US$1,000 – US$3,000/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$7 |
| Average Vacancy Rate (%) | 20% | 25% | 25% | 15% | 35% |
| Average Yield (%) | 8%-9% | 8.5% | 10% | 13% | 9% |
Source: Brollghana.com
Main Agents in the Real Estate Sector
- Some property mangers operating in the commercial properties space in Ghana.
| Property Developers | Manet Group | Regimanuel Gray Ltd | Devtraco Ltd | Clifton Homes | NTHC
Properties Ltd |
| Civil Engineering & Construction | Taysec Construction | Micheletti& Co. Ltd | De Simone Ltd. | Consar | Trasaaco Group |
| Design/ Architecture | Key Architectural Company | Architectural & Engineering Services Ltd | Ecobuild Consult Ltd | ||
| Property Management | Broll Ghana Ltd | Sirius Properties | Stellar Properties | Cushman & Wakefield Excellerate | |
| Mortgage/ Finance Companies | GHL Bank | HFC Bank | CAL Bank | Stanbic Bank | Fidelity Bank |
| Property Rentals | Isaac Anthony Homes | Gold Key Properties | Regus Ghana | ||
| Land Sale Agents | Castle Gate Estate | KAS Estate Ghana | |||
| Online Sites | Jumia House | MeQasa.com | GhanaFind.com | OLX.com | Tonaton.com |
Source: GIPC
Residential Accommodation
- Average annual rent for expatriates three-bedroom homes ranges from US$ 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$D 50,000(Note prices could be less or more than.
Land for Development
- Residential —————– US$ 5,000 to US$ US$1,000,000 per Acre
- Industrial Land —————— US$ 10,000 to US$ 2,000,000 per Acre for 50 years
- Farm Land ———————— US$ 2 to US$ 50.00 per Acre per year