A Snapshot of Ghana’s Real Estate Market 2022/2023

Accra is seen as one of the most central cities in the world— never too far from any destination, faces an undersupply of housing units, with the mid to low end sector accounting for majority of the demand. Based on market analysis, while there are up to 800,000 residential units in Accra, the development pipeline is set to bring an additional 23,000 units on to the market according to Estateintel report.

Read also:Is Ghana Experiencing Real Estate Boom or Market Crash?

This will only account for approximately 3% of the total stock, with majority of thispipeline (80%) falling within the middle income to affordable sectors. The mid to low end residential segments also continue to record relatively high occupancy rates owing to the domestic nature of demand.  The short let segment of the market has continued to see increasing demand with tourists and business travellers preferring this medium to hotels.

Read also:Why are rents so expensive in Ghana, Accra? -villashark.com


Ghana’s real estate sector asset classes comprises of residential, hospitality and commercial which includes: office, retail and industrial. All of these sectors  got hit during the covid19 especially the hospitality which depends on foreign guest.

In a report by Ghana Investment and promotion Centre (GIPC) 2021 Sector report, the average rent yield for residential market is around 10-13.5%, which is one of the highest in Africa after South Africa and Zambia and probably on par with Malawi.

Office space, rents fell by 21.4%  in the last two years because of covid which saw average rent around $28 per square metre according to Knight Frank Africa report. Obviously when supply surpass demand, most landlord had no option than to give concessions for rent. This was global phenomenon.

In retail space average rent was 12.5% the last two years. Ghanaian taste of shopping is increasing as we see more retailers such as Giordano and more shopping malls like West Hills mall the biggest mall  in West Africa, Palace mall, a 6,800 sqm A&C mall just to name a few.

Although Ghana is regarded as industrial hub in West Africa, the industrial sector rents fell by -44% for the last two years due to same problem. With Volkswagen’s decision to open an assembly plant capable of delivering 5,000 vehicles a year there is going to be increase is rent in this market. This will also attract other players to open plants in Ghana. According to GIPC the average yield is from 11-14%.

With that said, post-covid recovery is gradual as all  there is increase in demand across asset classes in the country.


Ghana real estate yields @Knight Frank



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Read also: Why do Americans leave their luxurious life and move to Ghana?


La margo Villas, is upcoming greenery, lush landscape,  eco-friendly, and renewable energy gated community in the  beautiful, picturesque hillsview of Kwabenya, Accra featuring townhomes and apartments. Our residence will enjoy energy reduction on utility bills, worldclass amenities , and facilities such as clubhouse, multi-purpose tennis court within the community and most importantly,  flexible payment plans. Let’s help you own your dream home. Get in touch with us.


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La Margo Villas Neighbourhood Snapshot

Kwabenya is a residential community located in the Ga East Municipal District of the Greater Accra Region. The area is well connected to major roads and highways, making it easily accessible from other parts of the city. It is an ideal area for real estate investment and an emerging sub-market for those who want to escape excessive noise of Accra. Get in touch  with us to reserve your dream home today right here. Read also: ​The 9 Advantages Of Living In A Gated Community In Accra


In a nutshell, the outlook for the prime residential sector remains positive as the demand keeps growing. The mid-low end segment is a sweet spot for  most real estate developers. The market is driven by the two forces: the supply and demand. The demand has an upper hand because it influences the price. Despite the hyper inflation that hit the country in recent time, people still need homes to live. That is why i love real estate. No matter the micro or macro environment factors, there is always demand especially in Accra- one of the fastest growing cities in Africa.



Take Away

Are you a foreigner looking to make Ghana your next home or a Ghanaian living abroad or? Or you are a local looking for professional real estate service provider in Accra Ghana? We have received several request from our platform visitors looking for real estate services. That is why we set up Villashark one-stop-shop diaspora services , serving all your real estate needs in Ghana. There are 60,000 court cases all related to real estate – land litigation. 40% of people attended court hearing and about 60% attended court hearing a 100 times. 15000 cases are pending and only 20% cases are resolve. You don’t want to spend the rest of your life fighting in court to win your land back.

We have got legal and litigation  free support team that will make your real estate acquisition stress free. Check out our services packages and choose the plan that best fit you. We currently offering 15% OFF on all plans on a limited time frame. If you have any questions feel free to contact us.



If you are looking to buy your new home or sell your house, villashark.com platform is the right place for you to post your listings for free. If you are hearing it for the first time, no worries, Villashark is an online real estate marketplace that brings together home seekers, property sellers, renters of houses, and commercial spaces in Accra, Ghana. Ultimately, home buyers and sellers, and renters engage directly to build deeper, differentiated partnerships to support long term, high value relationships without any middleman. What are you waiting for? Check it out right here to post your ad for FREE!


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