The Most Popular Neighbourhoods in Accra

January 31, 2025

Are you an investor looking to capitalize on Ghana’s thriving real estate market? Accra, the nation’s bustling capital, offers a wealth of opportunities for savvy investors seeking to grow their property portfolios. In this post, we’ll explore the most popular Neighbourhoods in Accra for real estate investment, examining the factors driving their popularity and the potential returns on offer. Whether you’re a local investor or an international player, understanding the dynamics of Accra’s prime real estate locations is key to making informed investment decisions.

Accra’s Real Estate Market: An Overview 

Before diving into specific Neighbourhoods, let’s take a bird’s eye view of Accra’s current real estate landscape. The city’s property market has experienced steady growth in recent years, fueled by factors such as rapid urbanization, a growing middle class, and increased foreign investment. According to the Ghana Investment Promotion Centre (GIPC), the real estate sector attracted over $780 million in foreign direct investment between 2017 and 2020, highlighting its appeal to international investors.

The Most Popular Neighbourhoods in Accra

While the market experienced some slowdown due to the COVID-19 pandemic, experts predict a strong rebound as economic activities resume and demand for quality housing persists. With this context in mind, let’s explore the Neighbourhoods that are generating the most buzz among investors.

East Legon: 

An Upscale Enclave East Legon, situated in the northeastern part of Accra, has long been a favourite among affluent Ghanaians and ex-pats. This tranquil neighbourhood boasts a mix of luxurious standalone houses, townhouses, and high-end apartments. The area’s popularity stems from its excellent infrastructure, including well-paved roads, and reliable electricity, and water supply. East Legon is also home to several international schools, upscale shopping centres, and entertainment venues, making it an attractive choice for families and professionals.

From an investment perspective, East Legon offers strong rental yields and capital appreciation potential. Luxury apartments in the area can command monthly rents ranging from $2,000 to $5,000, while standalone houses can fetch even higher prices. As demand for quality housing in this neighbourhood continues to grow, investors can expect healthy returns on their investments.

Airport Residential Area: 

A Prime Location As its name suggests, the Airport Residential Area is located near Kotoka International Airport, making it a convenient choice for frequent travellers and business professionals. This well-planned neighbourhood features a mix of modern apartments, townhouses, and detached homes, catering to a range of preferences and budgets. The area is known for its serene atmosphere, well-manicured gardens, and top-notch security.

The Airport Residential Area’s strategic location is a major draw for investors. Its proximity to the airport, as well as key business districts like Ridge and Cantonments, ensures a steady demand for rental properties. Studios and one-bedroom apartments in the area can command monthly rents of $1,000 to $2,000, while larger units and standalone houses can fetch significantly higher prices. With the ongoing expansion of the airport and the development of new commercial projects nearby, the Airport Residential Area is poised for further growth in the coming years.

Cantonments: 

A Diplomatic Hub Cantonments, located just west of the Airport Residential Area, is known for its high concentration of embassies, diplomatic missions, and international organizations. This prestigious neighbourhood features a mix of grand colonial-era houses, modern apartments, and gated communities. Cantonments are prized for its lush greenery, wide streets, and proximity to key amenities like the Accra Mall and the Accra Polo Club.

From an investment standpoint, Cantonments offers a unique opportunity to cater to the expatriate market. Many foreign diplomats, NGO workers, and business executives prefer to live in this neighbourhood due to its safety, tranquillity, and international flavour. Rental yields in Cantonments are among the highest in Accra, with luxury apartments and standalone houses commanding monthly rents of $3,000 to $8,000 or more. While entry prices for properties in this neighbourhood are steep, the potential returns make it an attractive option for investors with deeper pockets.

Emerging Hotspots: 

Adjiringanor and Ayi Mensah 

In addition to the established Neighbourhoods mentioned above, investors should also keep an eye on emerging hotspots like Adjiriganor and Ayi Mensah. These areas, located on the outskirts of East Legon, have seen significant development in recent years as demand for more affordable housing options grows.

Adjiriganor and Ayi Mensah offer a mix of gated communities, townhouses, and standalone homes, catering to middle and upper-middle-income earners. These areas boast good road networks, improving infrastructure, and a growing number of amenities like schools, hospitals, and shopping centres. As more developers launch projects in these Neighbourhoods, investors can expect to see an appreciation in property values over the medium to long term.

Landmark Homes: Your Partner in Ghana’s Real Estate Market Navigating Ghana’s dynamic real estate market can be challenging, especially for investors who are new to the country. That’s where Landmark Homes comes in. As one of Ghana’s premier real estate developers, Landmark Homes offers a range of luxury properties in Accra’s most desirable Neighbourhoods, including East Legon, Airport Residential Area, and Cantonments.

With a focus on quality craftsmanship, innovative design, and customer satisfaction, Landmark Homes has earned a reputation as a trusted partner for investors seeking to capitalize on Ghana’s real estate opportunities. From selecting the right property to managing the rental process, Landmark Homes provides end-to-end support to help investors maximize their returns.

Conclusion 

Ghana’s real estate market offers exciting opportunities for investors looking to tap into the country’s growing economy and expanding middle class. By understanding the dynamics of Accra’s most popular Neighbourhoods, such as East Legon, Airport Residential Area, and Cantonments, investors can make informed decisions and position themselves for success. 

5 FAQs on Investing in Accra’s Real Estate Market

  • What are the average rental yields in Accra’s prime Neighbourhoods? 

Rental yields in Accra’s prime Neighbourhoods typically range from 8% to 12% per annum, with higher yields possible for luxury properties in areas like East Legon and Cantonments.

  • Are there any restrictions on foreign ownership of property in Ghana? 

Ghana has a relatively open policy towards foreign ownership of property. Non-Ghanaians can acquire property in the country, subject to certain conditions and registration requirements.

  • What are the main taxes and fees associated with property ownership in Ghana? 

The main taxes and fees associated with property ownership in Ghana include the property rate (a form of property tax), stamp duty, and registration fees. It’s advisable to consult with a local real estate professional or tax advisor to understand the specific costs involved.

  • How can I finance my property investment in Ghana? 

Investors can finance their property purchases in Ghana through a combination of personal funds, mortgage loans from local banks, and financing arrangements with developers. It’s important to shop around and compare options to find the most suitable financing solution.

  • What are the key risks to consider when investing in Ghana’s real estate market? 

Some of the key risks to consider include changes in economic conditions, currency fluctuations, and potential delays in construction projects. Investors should also be aware of the legal and regulatory framework governing property ownership and ensure that they conduct thorough due diligence before making any investment decisions.

As an investor, partnering with a reputable developer like Landmark Homes can provide the expertise, support, and peace of mind needed to navigate Ghana’s real estate landscape with confidence. To learn more about how Landmark Homes can help you achieve your real estate investment goals, visit www.landmarkhomesgh.com or contact our team of experts today.

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