The real estate sector in Ghana is incredibly broad and widespread. Presently, the majority of real estate investments appear to be focused primarily in Accra, Ghana. However, as the borders of the area originally thought to be Accra expands, property developers have also started venturing into locations outside Accra’s original borders. For instance, over the last five years, properties have started springing up in areas like Kasoa, Sakumono, Tema and Prampram.
In this article, we will be looking at affordable houses for sale in Accra. This will include houses for sale in areas like Skumono, Tema, Oyibi and central parts of Accra like Dzorwulu and Osu. To begin, we need to qualify the criteria for the term “affordable” in this article. Generally, real estate in Ghana is pretty expensive. The fluctuating nature of the cedi means that construction materials are getting more and more expensive every year for property developers. In some cases, construction materials are imported from other countries when developers feel those materials are necessary for them to meet international building (and aesthetics) standards. At the end of the day, the cost of constructing a property together with other ancillary costs and profit margins result in pretty high property prices. For this article, we shall use a maximum of $100,000 as the benchmark for affordable. In cedis, that is approximately GHC 570,000 as at January, 2020.
ONE BEDROOM HOUSES FOR SALE
Selling at GHS264,928.30 (at the time of writing), this one bedroom house for sale at Tema is priced on the lower end of the property market. The building is very modern and offers a clean contemporary design unlike many old houses for sale in Accra. The property features wide spacious rooms and a sleek bathroom designed with the latest building materials in the international market. This unit size is 50 square meters, offering a luxurious living space at a competitive price for 1 bedroom apartment. A property of this calibre selling at less than $50,000 is a steal in Ghana’s real estate space.
Another great deal for a one-bedroom property is this house for sale at Appolonia City. Appolonia City is a 2325-acre master-planned urban development in Accra, with residential, Light Industrial and commercial centres. It is located only 20 minutes outside Adenta and is considered one of Ghana’s hottest emerging real estate areas. This one-bedroom house is located in a nice, quiet neighbourhood and forms one of the few gated community houses for sale in Accra, Ghana. The house comes with a full septic tank, Aluminium long span roofing sheets and Plasterboard ceilings and a kitchen sink. The Classic House can also be expanded to a 3 bedroom house and is selling for GHS 270,000.
PROPERTIES FOR SALE IN DZORWULU
Dzorwulu is a great location for buying property in Ghana. The area is smack in the middle of the city and connects to several major roads and infrastructure. Airport residential area and North Ridge are only a few minutes from Dzorwulu. Nyaho Clinic, one of Ghana’s leading private hospitals is also only a 5 – 10-minute drive from most properties for sale in Dzorwulu.
There are two property deals here that can be recommended in Dzorwulu. Both properties are found in Kwae Close, an upscale development by Earlbeam Properties. First in line is a one-bedroom studio apartment for sale at GHS 297,368.50.
The property is available off-plan and offers a great payment plan for interested parties. Another property that is on offer in this area is a gorgeous premium studio for sale at GHS 405,502.50. Both developments include a rooftop swimming pool, hanging garden, gym and yoga studio, safe kids play area, rooftop lounge, 24hr security, Back-up power, fibre broadband connectivity, and ample and secure parking in a serene and well-landscaped environment.
MORTGAGE HOUSES FOR SALE IN ACCRA
Buying property through a mortgage is a little complex in Ghana. The procedure for acquiring a mortgage is not necessarily difficult but there are strict requirements of who is entitled to a mortgage and the maximum amounts that can be borrowed. You can read more about mortgages in Ghana at this link. Most major banks in Ghana grant mortgage facilities as part of their services. Ecobank, Stanbic Bank and Republic Bank, for instance, offer great terms to borrowers.
A great property that may be bought using a mortgage facility is this gorgeous two-bedroom house for sale at Community 25 in Tema. Like many new developments in the country, the house is fully tiled and fitted with a sleek modern kitchen. Another great property to purchase with a mortgage is this 2 bedroom house for sale at Spintex. Although this particular property has been lived in before, it has big spacious bedrooms that have ensuite bathrooms; an electric fence; a water reservoir and many other great benefits. At GHS 350,000 the price is also pretty good for a two-bedroom house with great proximity to the central parts of Accra. If you are willing to commute from a long distance, however, you can check out this 2 bedroom house for sale at Prampram that is selling for GHS 323,190.
APARTMENTS FOR SALE
There are quite a number of great apartments available for sale on meqasa. In fact, meqasa has listings of all sorts of property types including townhouses for sale in Accra, detached houses, self-compound houses and many others. When it comes to apartments, location and number of rooms are a huge determinant of price.
For instance, this one-bedroom apartment for sale at Tse Addo is selling for GHS 421,722.60 whilst a one-bedroom apartment for sale in Osu goes for GHS555,167.844. Admittedly, the difference is not a massive amount however, it is clear that the location of property contributed to its price.
Real estate in Ghana is quite diverse. Property prices and specifications range from the most basic to the most luxurious depending on location and budget. For that matter, purchasing a property in Ghana is not something that should be done casually. Luckily the meqasa blog here has a lot of information about acquiring property in Ghana.