I get asked this question quite often; which real estate development companies in Ghana provide affordable homes? Well, affordable is verbose. A 300,000-dollar house may be cheap to someone but not to another. People asking this question are often looking for a property affordable to a household in the middle-income to mid-high-income bracket. So, let’s define a house as affordable if priced at 50,000 USD (or Ghana Cedi Equivalent) or less. The list includes developers, property prices, and the location of estates. You can decide which developer is better for your situation.
There are relatively few real estate developers in Ghana in this affordable housing segment.
Real estate companies that consistently develop housing that can be considered affordable in the country include Adom City Estate, Blue Rose, Kings City Real Estate, Rehoboth properties, and Yabah Estates.
These developers operate within the Greater Accra Metropolitan Area. Their housing developments are also mostly greenfield developments located in peri-urban areas of Accra. In Kumasi, J. B. Aboagye Developers and Danywise, Angel Estates and Construction can be mentioned. But in this post, I will focus on Accra.
To be clear, these developers also develop homes for other market segments.
Criteria for including a real estate developer on this list
- Must be a private property developer
Quasi-state developers such as Tema Development Corporation and State Housing Company were not considered. But they also offer homes for $50,000 or less.
- Be a member of the Ghana Real Estate Developers Association
An additional criterion was that I should have known the developer in some way: visited them, engaged with some company staff, or interviewed a staff or CEO. So, this list is not internet-based research. That notwithstanding, it is still a subjective list.
An exception is Yabah Properties which I neither know personally nor have visited their site before. They are also not listed on GREDA’s website. I have included them in my list because they are part of the Public Sector Home Loans Scheme by the Government of Ghana to provide affordable homes to public sector workers. The scheme partnered with selected developers to develop tailor-made housing units for the project are specified price points.
Lowest prices of a newly built house by real estate company in Accra
As of 2019, the cheapest freshly built one-bedroom (55 sq. m) house by a private developer on the Ghanaian residential market was 20,000 USD from Damax Properties. Their website at the time of this post was inactive. So, it’s unclear if they have any current projects.
In 2020, Rehoboth offered a home for $27,500.
Real Estate developers offering homes for $50,000 or less
The real estate companies are not listed in any order.
1. Yabah Estates
Founded in 2017, Yabah Estates and Investment Gh Limited is a new entrant into the Ghanaian residential property market. But its history goes back to 2000 when it was involved in the sale of service plots, microfinance, and farming. Yabah is not listed on the GREDA website as a member. It is developing its first 90 acres, comprised on 1, 2, and 3-bedroom houses.
Yabah Estates is part of the Government Public Home Finance and Mortgage Scheme, developers building customised homes for the scheme. One can also access a conventional mortgage from the Republic bank to buy their homes.
Price: 2bedroom semi-detached houses start from GH$ 170,000.00 (about USD 28,000)
Location: Kasoa
A 2-bedroom semi-detached house offered by Yabah
Photo credit: Yabah
What You Should Know Before Buying a House Using Mortgage
2. Blue Rose Ltd
Blue Rose operates mainly in the affordable housing market segment and prides itself on delivering affordable houses for the masses. What they mean by affordable is, of course, an open question. But developments have mainly targeted the low- and middle-income households over the years. Since 2005 when it started developing homes, it has built over 900 housing units. Blue Rose housing developments are primarily in the Kasoa-Buduburam enclave (about 36 km West of the Accra Mall).
House prices typically range from 23,500 dollars to 100,000 dollars, with many below 50,000 dollars
Prices: start 23,000 dollars
Location of properties: Kasoa
A 4 bedroom house by Bluerose
Photo credit: Bluerose
3. Rehoboth Properties
Rehoboth is a wholly own Ghanaian developer established in 2012. The company’s homes are priced for middle- and high-income households. Rehoboth’s develops gated chiefly communities in and around Kwabenya, Oyarifa, North Legon. Several developments by Rehoboth are also Edge certified. Rehoboth offers what they term the Africa’s Affordable Luxury Housing Gated Community. Rehboth has by far the most diverse house offers priced at less than $100,000.
Prices: $30,800 – $65,00 for 1-3 bedrooms
Location of properties: Kwabenya-Oyarifa-North Legon-Ayi Mensah
Artist Impression Rehoboth Palm
Photo credit: Rehoboth
4. Adom City Estate
Adom City started in 2015, transitioning from Obolo Real Estate and Construction Company. The developer has properties at locations including in Kasoa and Tema Community 25. Its business model is aligned with affordable housing, with prices typically below 70,000 dollars. Some of the developer’s projects include the Adom Hills, Adom Court and the Adom City Estate Community 25 project.
Prices start: 23,000 dollars
Location of properties: Tema
A Gated Community by Adom City Estate
Photo credit: Adom City Estate
5. Lakeside Estate
Per the adopted definition of affordable, Lakeside Estate does not precisely fit into that category and would not be considered operating in the affordable housing market segment. Lakeside Estate is one of the oldest real estate developers in the country. Their homes in recent times are priced usually between $60,000 – $210,000. But to provide affordable housing, they have been experimenting with innovative building technologies – a type of Expanded Polystyrene System. The result is dubbed the super affordable housing scheme and consist of apartments.
Prices start: $33,000
Location of property: Adenta
Other developers also providing homes for less than 50,000 dollars, Greater Accra Metropolitan, Ghana
Gyapansa Properties Ghana Ltd
Kings City Real Estate
Bijou Homes
Bonus: Real estate Companies offering homes up to 80,000 USD
UT Properties
GHS Housing
Salem Investments Ltd
Payment options
- Properties can be acquired in by paying the agreed sale price in full outrightly. All developers also offer the possibility to pay for their houses in instalments. The duration for instalment payment varies. One to two years are common, depending on the sale price of the property.
Rehoboth offers one of the most generous payment plans ― five years interest-free
- Mortgages with partner banks
Republic Bank, Stanbic Bank and FNB Bank (Ghana Home Loans is part of FNB) are popular mortgagees in Ghana who provide mortgages to qualified clients.
All dollars are US dollars
Do you know any developers with cheaper housing offers? Share in the comment box below.
Disclaimer: This post is neither sponsored nor a recommendation for you to buy a house from any of the listed developers.
Accra is a very over priced city that just does not make sense. Anyone who is not a financial moron will shop elsewhere.
Hello Roger, relative to local incomes, real estate prices in Ghana can be through the roof. But over 90% of building materials used in housing construction are imported, exposing prices to global conditions. Not to justify the expansiveness of the city though.