Cost of a Studio Apartment in Accra – Rent & Buy Guide

Studio apartments are becoming increasingly popular in Accra, particularly among young professionals, students, and expatriates looking for affordable and convenient living spaces. Whether you are looking to rent or buy, understanding the cost of a studio apartment is essential for making an informed decision. This guide explores current studio apartment prices in Accra, breaking down rental and purchase costs across different areas.

Average Cost of Renting a Studio Apartment in Accra

Rental prices for studio apartments in Accra vary based on location, amenities, and demand. Below is a general breakdown of rental costs across different areas.

Luxury Areas (Cantonments, Airport Residential, Labone, East Legon)

• Monthly Rent: $500 – $1,200 (GHS 6,000 – GHS 14,400)
• Features: Modern finishes, 24-hour security, swimming pools, fitness centers, and fully serviced apartments.

Mid-Range Areas (Osu, Achimota, Spintex, Tesano, Adenta)

• Monthly Rent: $250 – $500 (GHS 3,000 – GHS 6,000)
• Features: Gated communities, furnished and unfurnished options, good access to transport, and essential amenities.

Affordable Areas (Madina, Dansoman, Kasoa, Ashaley Botwe, Teshie)

• Monthly Rent: $100 – $300 (GHS 1,200 – GHS 3,600)
• Features: Basic apartments with essential amenities, moderate infrastructure, and good access to transport.

Many landlords in Accra require one to two years' rent upfront, though some properties now offer monthly or quarterly payment plans.

How Much Does It Cost to Buy a Studio Apartment in Accra?

For those interested in buying a studio apartment, prices vary based on the neighborhood, amenities, and property condition. Below is a breakdown of purchase prices.

Luxury Areas (Cantonments, Airport Residential, Labone, East Legon)

• Price Range: $60,000 – $150,000 (GHS 720,000 – GHS 1.8M)
• Features: High-end developments, prime locations, premium security, and modern designs.

Mid-Range Areas (Osu, Spintex, Achimota, Adenta, Tesano)

• Price Range: $30,000 – $60,000 (GHS 360,000 – GHS 720,000)
• Features: Well-planned communities, gated developments, and good investment potential.

Affordable Areas (Kasoa, Madina, Dansoman, Ashaley Botwe, Teshie)

• Price Range: $15,000 – $30,000 (GHS 180,000 – GHS 360,000)
• Features: Basic apartments, growing neighborhoods, and affordable investment opportunities.

Many developers offer mortgage financing options, allowing buyers to spread payments over several years.

Factors That Affect the Cost of Studio Apartments in Accra

1. Location – Prime areas like Cantonments and Labone command higher prices due to infrastructure, security, and accessibility.
2. Amenities and Facilities – Apartments with swimming pools, gyms, elevators, and security services tend to be more expensive.
3. Furnished vs. Unfurnished – Fully furnished studio apartments can be 20-40% more expensive than unfurnished units.
4. Property Age and Developer – Newly built apartments often come at a premium price compared to older units.

Budgeting Tips for Renting or Buying a Studio Apartment in Accra

• Compare listings on Apartments.com.gh to find the best options.
• Consider alternative locations that offer better value for money.
• Negotiate rent or purchase terms with landlords and developers.
• If buying, explore mortgage financing options to ease the cost burden.

How Apartments.com.gh Can Help You Find a Studio Apartment in Accra

Apartments.com.gh provides verified property listings for renters and buyers, offering:

• Advanced search filters to help you find properties within your budget.
• Direct contact with landlords and real estate agents.
• Flexible payment plan options for selected properties.

Visit Apartments.com.gh today to find your ideal studio apartment in Accra.

Conclusion

The cost of a studio apartment in Accra varies significantly based on location, amenities, and property condition. Whether you are looking to rent or buy, understanding market trends will help you make an informed decision.

Start your property search today on Apartments.com.gh and discover the best studio apartments available in Accra.