Accra is one of the most expensive cities in Ghana when it comes to renting or buying an apartment. With rising property prices and high rental deposits, many people struggle to afford housing in prime locations. However, with proper financial planning, saving strategies, and smart housing choices, securing an apartment in Accra is achievable.
This guide provides practical ways to afford an apartment in Accra, whether you are renting or buying.
Before searching for an apartment, determine how much you can afford to spend on rent or mortgage payments.
| Monthly Income (GHS/USD) | Recommended Rent (GHS/USD) |
|---|---|
| GHS 4,000 ($330) | GHS 1,200 ($100) |
| GHS 8,000 ($660) | GHS 2,400 ($200) |
| GHS 15,000 ($1,250) | GHS 4,500 ($375) |
By setting a clear budget, you can focus on apartments within your financial means.
Apartment prices vary based on location, with prime areas costing significantly more.
| Luxury Areas (Higher Rent) | Affordable Areas (Lower Rent) |
|---|---|
| Cantonments, Airport Residential | Madina, Dansoman, Kasoa |
| Labone, East Legon | Ashaley Botwe, Teshie, Achimota |
| Osu, Ridge | Adenta, Spintex, Weija |
Living slightly outside the central business district can reduce housing costs while still offering access to amenities.
Most landlords in Accra require 1 to 2 years' rent upfront, making it crucial to save in advance.
If you’re purchasing an apartment, expect to make a down payment of 10-30% of the property price.
Tip: Open a dedicated savings account or fixed deposit to grow your housing fund faster.
If you can’t afford to pay cash upfront, consider a mortgage from a Ghanaian bank.
✔ Ensure you meet the bank’s income and credit requirements.
✔ Look for low-interest-rate mortgage options.
✔ Compare loan terms from different banks before applying.
If you cannot afford an entire apartment, consider co-living options to split rent and utilities.
✔ Lower rent costs – Splitting rent with roommates reduces financial burden.
✔ Shared utility bills – Water, electricity, and internet costs are divided.
✔ More affordable access to prime locations – Live in East Legon or Osu at a fraction of the cost.
Use Apartments.com.gh to find shared apartments or rent a single room in a larger home.
If your salary isn’t enough to cover rent, consider earning extra income through:
✔ Freelancing or Remote Work – Offer skills online in writing, design, programming, or virtual assistance.
✔ Side Business – Engage in small-scale trading, real estate brokering, or online sales.
✔ Short-Term Rentals – Rent out an extra room on Airbnb to offset your rent.
A second income stream can make renting or buying an apartment more affordable.
Not all rental prices are fixed—negotiation can help you save money.
✔ Offer to pay multiple months upfront in exchange for a lower monthly rent.
✔ Ask about discounts for long-term leases (e.g., signing a 2-year lease).
✔ Look for newly built apartments where landlords may offer introductory discounts.
Some landlords now accept monthly or quarterly payments instead of large upfront sums.
Apartments.com.gh helps renters and buyers find affordable apartments in Accra. The platform offers:
Visit Apartments.com.gh today to find an apartment that suits your budget.
Affording an apartment in Accra requires financial planning, smart location choices, and savings discipline. Whether you are renting or buying, following these strategies can help you secure a home within your budget.
