The demand for a luxury apartment in Accra is reaching new heights as the city’s upscale real estate market evolves in response to shifting economic and urban development trends. Ghana’s economy has remained resilient, with annual GDP growth around 3–4% in 2023 and expected acceleration to 5–6% by 2024–25.
Strong growth in oil, mining, and services, combined with political stability, is putting more buying power into Ghanaian households. At the same time, Ghana receives massive diaspora remittances (about $4.6 billion in 2023, second-highest in Africa), providing ready capital for investments at home.
The diaspora – over 3 million Ghanaians abroad – has deep ties to Accra and often channels funds into real estate. Rapid urbanisation compounds demand: Accra’s metro population (now over 5 million) is growing fast, with projections that Ghana’s urban share will hit 65% by 2030. Workers and families flocking to the city drive up housing needs across all segments, especially luxury.
As Accra’s skyline expands with new high-rises, developers race to meet the appetite of well-paid executives, expatriates and affluent locals seeking premium homes. This urban development trend – from expanded road networks to new shopping and business districts – further lifts property values. In short, rising incomes and continued city growth are key tailwinds behind the boom in Accra luxury apartments and upscale gated communities.
Figure: Modern office and residential towers rise along Airport City, Accra. New developments in prime districts reflect Ghana’s economic and urban growth, driving the market for luxury apartments.
Evolving Design and Amenities in Luxury Living
Luxury apartments in Accra now offer resort-like amenities and cutting-edge tech, blurring the line between home and five-star hospitality. Buyers today demand more than a stylish unit; they expect a turnkey lifestyle with every convenience. Key design trends and features include:
- Resort-Style Amenities: Almost every new high-end complex provides infinity-edge pools overlooking the city, fully equipped fitness centres, and landscaped roof gardens or courtyard parks. Developments like The Madison in Airport Residential Area even include rooftop bars, wellness spas, and cinema rooms. Many incorporate private clubhouses, coworking lounges or children’s play areas, creating self-contained communities where residents can dine, exercise or socialise without leaving home.
- Smart Home Integration: High-speed internet and home automation have become must-haves. Luxury apartments feature smart thermostats, voice-controlled lighting, automated security systems (cameras, smart locks, motion sensors), and app-controlled climate/energy management. Residents can adjust lighting, air conditioning and even shutters from their phones. This tech-centric approach improves comfort, security and energy efficiency – a selling point in Ghana’s hot climate and with frequent power fluctuations.
- Concierge and Lifestyle Services: Building services now mirror luxury hotels. 24/7 security and concierge desks, valet parking, daily housekeeping and on-call maintenance are common. Some complexes offer private dining and room-service options, laundry pick-up, or even childcare and wellness services on site. These white-glove services cater especially to expatriates and busy professionals who value time savings.
- Green and Sustainable Features: Environmental design is on the rise. Many projects incorporate solar panels, LED lighting, and rainwater harvesting to lower energy costs. Green-building materials, high-efficiency windows and water-saving fixtures are selling points. Landscaped gardens and green roofs help cool buildings. Buyers from Ghana’s middle and upper classes increasingly prioritise eco-friendly features alongside luxury.
- High-End Finishes and Layouts: Interiors boast global-brand appliances, imported stone countertops, European cabinetry and designer fixtures. Open-plan layouts with floor-to-ceiling windows maximise space and natural light. Bedrooms often include en-suite bathrooms and walk-in closets. Buildings use modern architectural styles – sleek glass facades, geometric balconies and distinctive silhouettes – giving Accra’s skyline a contemporary look.
This evolution means that luxury apartments in Accra, Ghana, now truly rival global standards. Architecturally iconic towers (like Eden Heights’ “One Airport Square”) and upscale gated estates (e.g. Sapphire by Landmark Homes) demonstrate how amenities and design are redefining modern living. Buyers are willing to pay a premium for these comforts – a trend that keeps Accra luxury apartments in high demand.
Figure: Contemporary high-rise residential design. Luxury developments often feature striking architecture, smart-home systems and premium amenities (pools, gyms, concierge) to meet the expectations of discerning buyers in Accra.
Prices, Rents, Yields and Investment Returns
Current data show Accra’s luxury market commanding strong pricing and attractive yields. A recent analysis puts the average sale price of new apartments in central Accra at roughly $1,500–1,600 per m² (about $140–160 per ft²). In top enclaves, it’s even higher – well over $2,000/m² for branded or ultra-luxury projects. For example, a modern 100 m² three-bedroom in Cantonments or the Airport area can fetch $200,000–$300,000 in total. A Bank of Ghana report noted prices of two-bedroom units up 8.2% year-on-year in late 2024, reflecting steady capital gains.
Rental values have also risen sharply. Even before a recent inflation surge, monthly rents for a premium 3-bedroom apartment in East Legon or Cantonments were often $1,500–$2,500. With inflation-driven rent hikes, gross yields in prime areas now typically range from 8–10% annually (net of minor expenses). Indeed, local brokers and property guides frequently cite average gross yields of 8–11% for Accra’s luxury rental stock. This is among the highest in West Africa. Factors like limited high-end supply and a chronic housing deficit keep occupancy levels strong (often 85–95% in new complexes).
Pulling these together, total return on investment (rental plus price growth) can be in the double digits. Conservative projections for 2025 suggest a healthy 12–15% ROI in the top suburbs. Even with recent currency fluctuations, the appeal of hard assets remains. Diaspora and foreign investors in particular often benchmark Ghana property against opportunities abroad and find the combination of mid- to high-single-digit rental yields plus continuing price appreciation to be compelling.
The table below summarises key metrics in Accra’s most sought-after neighbourhoods:
| Neighborhood | Price per m² (USD) | Gross Rental Yield (%) |
| Cantonments | ~$1,500–2,000 | ~7–8% |
| Airport Residential Area | ~$1,400–1,800 | ~8–9% |
| East Legon | ~$1,200–1,500 | ~9–10% |
| Ridge | ~$900–1,200 | ~8–9% |
These figures are averages. Cantonments and Airport City lead on price, reflecting their prestige and proximity to amenities, while East Legon and Ridge offer slightly more affordable luxury.
Yields are robust across all these areas. Overall, Accra’s prime real estate remains a good income investment (high demand from executives and diplomats) plus capital growth (land scarcity and urbanisation continue to push values up).
Key Neighbourhoods: Cantonments, Airport Area, East Legon & Ridge
- Cantonments: A leafy diplomatic enclave, Cantonments is synonymous with prestige. It hosts embassies, high commissions and upscale homes. Luxury apartments here (like The Essence by Quao Realty) boast security and serenity. Prices are among the highest in Accra – new condos often average over $2,000/m². Rents are similarly top-tier. Cantonments appeals to both local elites and expatriates who value its quiet atmosphere. Its shortage of developable land means capital values have climbed steadily; ROI remains attractive for investors banking on sustained demand.
- Airport Residential Area (Airport City): This business-travel corridor has transformed rapidly into a modern commercial and residential hub. New high-rises (The Madison, Manora, etc.) cater to busy executives needing quick airport access. A plethora of hotels, offices and shops nearby add convenience. Prices in Airport City mirror Cantonments – $1,800+ per m² in gated high-rises – but slightly higher rental traffic due to transient staff. Yields here are strong given near-full occupancy. Developers favor Airport City for large mixed-use projects, making it a consistent draw for investors eyeing growth.
- East Legon: Home to boutique malls, international schools and nightlife, East Legon is the go-to for young professionals and families. It offers a mix of luxury estates and modern apartments. New condos in East Legon command $1,200–1,500/m² and fetch rents around $1,500/month for 3-bedroom units. Yields here can top 9–10%, as a large middle-upper class resides in the area. Its development pace has been especially brisk, and ongoing road improvements (e.g. Better Ghana roads program) are boosting connectivity. East Legon’s popularity with local tech, finance and creative-sector workers underpins solid rental demand.
- Ridge: Traditionally a wealthy residential zone bordering the city centre, Ridge now mixes Victorian homes with newer mid-rise apartments. It’s quieter than the above areas, but still central. Luxury units here cost roughly $900–1,200/m², making Ridge slightly more accessible on the high-end spectrum. Rents remain high-end and yield around 8–9%. Future infrastructure projects (like the planned light rail) could make Ridge even more attractive. For investors, Ridge represents a balance of prestige and value, appealing to downsizers or officials who want upscale living near work.
Collectively, these neighbourhoods set the benchmark for Accra’s luxury apartment market. They illustrate how prices and returns vary by location, but all benefit from Accra’s overall growth.
Diaspora buyers and foreign buyers often focus on these enclaves due to their international schools, hospitals and familiar environment.
Investor Profiles: Diaspora, Local Buyers & International Developers
- Diaspora Investors: Ghanaians living abroad are major players in the luxury sector. With substantial remittances flowing home, many diaspora actively scout “luxury apartments in Accra Ghana” as both an emotional investment and financial asset. They often purchase off-plan or newly completed developments in Cantonments, Airport City or East Legon, expecting premium finishes and turnkey convenience. Trusted firms that understand diaspora needs (legal transparency, currency options, property management back home) are preferred. For example, Quao Realty has built strong ties with global Ghanaian communities – the firm even publishes analysis of diaspora trends – and emphasises diaspora marketing at expos. Second-home ownership and short-term rentals (for visits or for visiting relatives) are growing: many diaspora own condo units that they lease out when abroad, further tightening the high-end rental market. In sum, diaspora demand, backed by record remittances (~$4.6B in 2023), underpins a reliable segment of buyers and tenants for luxury apartments.
- Local High-Income Buyers: Ghana’s upper-middle class and affluent families are another core market. Rising middle-class incomes and entrepreneurship mean more locals can afford gated-community living. These buyers typically seek best-in-class finishes and space for extended family. Local corporates, politicians and successful professionals often invest in luxury units as status symbols and for long-term wealth building. They are focused on trust and quality: developer reputation and project track record weigh heavily. Many local buyers have also lived overseas and expect the same standards they saw abroad – driving demand for smart-home systems, imported materials and international design.
- International Developers & Investors: Ghana’s favourable investment climate (IMF-backed stability, Eurobond repayments) is attracting foreign developers. Middle Eastern, Chinese, South African and European firms are increasingly joint-venturing on Accra projects. They bring capital and new design ideas. These investors watch Ghana’s projections (the property market is estimated to reach over $500+ billion in value by mid-decade) and note that Accra often ranks in “top African cities for real estate investment”. International real estate funds and high-net-worth individuals see Accra as an emerging market with lower entry prices than Nairobi or Lagos. Government incentives (tax breaks, free zones) for housing development also encourage foreign developers to build luxury segments. All this fresh capital is fueling new inventory, but also signalling confidence that demand will remain strong.
Quao Realty: Shaping Accra’s Luxury Residential Scene
In the midst of this boom, Quao Realty has emerged as a leading name in Accra’s luxury property scene. Founded by Charles Quao, the firm specialises in high-end apartments and townhouses in exactly the prime neighbourhoods above. Quao’s developments – such as The Essence and Manora Residence in Airport Residential Area and 233 Boulevard in Cantonments– exemplify the market’s trends. Each features high-quality construction, contemporary design and upscale amenities. For instance, The Essence offers spacious layouts, imported fixtures, integrated smart-home capability, and a rooftop swimming pool. Quao Realty’s marketing emphasises “luxury and quality” as hallmarks of their brand, underlining meticulous attention to detail in finishes and materials. Their projects often include concierge, fitness centres, children’s play areas and lush gardens, aligning with buyer expectations for full-service living.
Quao Realty has also actively courted the diaspora investor segment. The company’s communications note that many overseas Ghanaians demand “Western-style” design and professional service. Charles Quao himself speaks at diaspora investment forums, reinforcing trust and demonstrating transparency. The firm’s blog has addressed diaspora themes head-on, for example, analysing how Ghana’s diaspora (over 3 million strong) influences local real estate, showing they understand global Ghanaian perspectives. Quao Realty even structures payment options to accommodate foreign currency inflows and partners with international marketing platforms. This diaspora-friendly approach sets Quao apart: many buyers abroad have confidence in Quao’s reputation and the long-term value of its assets back home.
Importantly, Quao Realty invests heavily in innovation. Their latest projects include smart-home systems (controlling lights, climate and security) and design features on par with international luxury benchmarks. By “taking real estate personally,” Quao Realty has helped raise the bar for new developments. Their strong focus on quality and customer service has made them a trusted leader, which in turn encourages other developers to emulate higher standards. For diaspora or local buyers sifting through Accra luxury apartments, seeing the Quao name on a building means reliability and modern luxury. Quao’s role is both as a developer of marquee projects and as an influencer shaping buyer expectations across Ghana.
2025 Outlook and Investor Takeaways
Looking ahead, the prospects for Accra’s luxury apartment market remain very positive. Key drivers are intact or strengthening: Ghana’s population keeps growing, incomes are rising, and urbanization continues. Analysts expect property prices in Accra to climb further in 2025, fueled by the same factors. Infrastructure projects (expanded highways, new rail lines) and the success of the oil/gas sector will boost economic confidence. Tourism and international business are also on the rise, bringing more expatriates to the city and increasing demand for premium rentals. All this suggests continued upward pressure on rents and values.
However, investors should watch out for a few challenges: high inflation and currency volatility (current as of 2024) can squeeze real returns if not managed. Yet luxury assets often hedge against inflation better than other investments. Financial and legal transparency will remain crucial: working with trusted developers (like Quao Realty) and using reputable agents helps mitigate risk. For diaspora and foreign buyers, securing independent title verification and clear contracts is key – an area where top developers often assist.
Overall, Accra’s luxury apartment sector is set for sustained growth through 2025. High-end residential real estate here offers a compelling combination of strong rental income (8–10% yields) and steady capital appreciation (~8–10% annually in prime areas). This outpaces many developed-market alternatives. In practical terms, a well-located luxury apartment could yield double-digit annualized total returns for diligent investors. The market continues to evolve with world-class features, and innovators like Quao Realty are leading the way in defining luxury living standards in Ghana.
Key Takeaways: Ghana’s urban development and economic momentum are lifting the luxury real estate segment. Accra’s top neighborhoods (Cantonments, Airport Area, East Legon, Ridge) see upscale projects with smart technologies, resort amenities and sustainable design. Prices per square meter in these areas typically range from $1,000–2,000+ USD, with gross rental yields commonly in the 8–10% range. Diaspora Ghanaians and other foreign investors play a major role, drawn by robust returns and emotional ties to the country. Quao Realty has distinguished itself as a trusted leader in this space, exemplifying quality and innovation that meet global luxury standards. As 2025 unfolds, the outlook for Accra luxury apartments remains strong, driven by continued growth, a maturing property market and the city’s appeal as an African business and lifestyle hub.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
