Apartments are increasingly becoming a popular choice among house hunters in Accra. Lamudi’s intelligence data indicates that from the 2nd quarter of 2014, searches for apartments rose by about 7 percent in the first quarter of 2015.
The increase in popularity can be attributed to a growing appetite for real estate investment, with apartments fetching a sizable amount of returns on investment. The increase in foreign direct investment and the changing tastes of the Ghanaian market are also contributing factors.
Luxury apartments especially, have become the preferred choice for many house hunters. Property expert, Lamudi Ghana lists the top five neighborhoods with the most affordable luxury apartments.
Adjiringanor : This area is developing at record speed, with a number of developers providing various residential and commercial properties. With the influx of expats and changing lifestyles among Ghanaians, developers have put up apartments to cater to house hunters’ needs. The median monthly rental price is GH¢1,272.73 per bedroom.
West Legon: Located near the University of Ghana campus, West Legon is one of Accra’s biggest residential attractions. The neighborhood has all the amenities you would need, from shops, bars, schools, a police station and much more. Apartments are also on the rise, with a median monthly rental price costing GH¢1,272.73 per bedroom.
East Airport: This neighborhood is home to a number of estates including Airport Hills and Regimanuel Estates. Being a prime residential neighborhood, it has a variety of apartments catering to the tastes of house hunters. The neighborhood’s median monthly rental price is GH¢1,696.94 per bedroom.
Dzorwulu: One of the best locations for apartments in the capital, Dzorwulu has seen investment in such properties dramatically rise. It was one of the few peri-urban areas to witness infrastructural development at record pace post the economic recovery program period. The median monthly rental price for an apartment in this neighborhood is GH¢2,727.25 per bedroom.
East Legon: Accra’s most sought-after neighborhood according to Lamudi’s data, East Legon attracts a number of developers and house hunters from all walks of life. The prime neighborhood is mostly home to middle-to-upper income holders. East Legon’s median monthly rental price is GH¢2,727.25 per bedroom.
The prices quoted in this article was generated from January to March 2015 courtesy Lamudi Ghana. The median was used in computing the results. The exchange rate date used was 6th November 2015.
Author: Fidel Amoah, Content Manager Lamudi Ghana