Buy House in Ghana and Pay Monthly

Buy House in Ghana and Pay Monthly

You can buy a house in Ghana and pay monthly. You should know that one of the biggest purchases you will ever make is purchasing a home. Since owning a home represents security and money, many people strive to reach this goal. You might purchase a home in Ghana if you’re thinking about doing so. Ghanaian homes cost, on average, $11,000 less than most other nations. Additionally, there are advantages for foreigners who want to purchase real estate in the nation. This post will walk you through the procedure of purchasing real estate in Ghana while making monthly payments.

The History of Ghanaian Real Estate

The value of real estate in Ghana has skyrocketed in recent years. One of the fastest-growing economies in Africa is Ghana, and the rise in real estate values is evidence of this expansion.

In Ghana, the average cost of a home is roughly $11,000. (USD). Some people might think this is a hefty price. However, it is far less expensive than in other nations. For instance, a typical Norwegian property costs roughly $278,000 USD.

Additionally, there are incentives for foreigners who want to purchase real estate in Ghana. They may give foreign nationals preference when applying for visas and work permits. If they buy property worth more than $2 million, they can also be qualified for various tax exemptions. However, the government would not offer any incentives to foreigners who invest in real estate or land in metropolitan areas.

House Prices In Ghana

In Ghana, a home may cost anything from $11,000 to ‌$200,000. This is substantially less expensive than most other nations on the planet. In Ghana, a brand-new home costs, on average, $11,000. There are several investment loans for real estate you can consider taking to finance your purchase.

How to Find a House in Ghana

Finding a property is the first step in buying a house in Ghana. You should probably work with a real estate professional who can assist you in locating residences that suit your requirements. Getting referrals from friends or family members is the greatest approach to finding an agent. Once you’ve located a few agents, schedule appointments with them to see which one suits you the best.

When you’re ready to view homes, confirm that the realtor has access to the neighborhood you’re interested in. If they don’t offer this service in their package, you could have to pay extra for it. Once you’ve viewed a few homes, choose the one you like most, and your agent will assist you in drafting an offer on behalf of your business or yourself.

How to Make Monthly Repayment for Your House In Ghana

Calculating how much cash you’ll need each month if you’re purchasing a home on a payment plan is crucial. You’ll need to know the overall cost, the interest rate, and the payment schedule. There are alternatives to making the initial down payment on the house if you cannot afford to do so. Purchasing a house with long-term installment plans is one option. This implies that you can make monthly payments over several years until the total cost of your property has been settled.

This choice might be preferable to outright purchasing a house, depending on your income in Ghanaian cedi and US dollars. Offering an indirect mortgage from a different nation is an additional option for purchasing a home. This might be possible if you had sufficient funds in another nation or a dollar account. It’s crucial to remember that prices can change depending on the location and ownership of the property when looking at houses for sale in Ghana. Make sure the rates you agree upon with Ghanaian property sellers are just and reasonable so that both sides are content with the outcome of the discussions.

How Much Is a Downpayment on a House in Ghana?

They require a 20% down payment, and a 20-year loan term is the maximum. Besides that, they also require a processing fee. And it is 1.5% of the proposed loan amount for Ghanaians and USD250/GBP150 for non-resident Ghanaians.

Can a Noncitizen Buy a House in Ghana?

If you wonder if a foreigner can buy property in Ghana, the answer is “Yes”. In Ghana, there are no limitations on foreigners purchasing real estate. However, it is crucial to consider the nation’s land’s previously described categorization, as some land kinds cannot be privately owned.

How Much Can It Cost to Get a Two-Bedroom Apartment In Ghana?

You can buy house in Ghana and pay monthly. In Ghana, a two-bedroom apartment can range from GH₵2,000 to GH₵3,000. This spans a wide variety. Its location also influenced a two-bedroom apartment’s cost. You should budget between GH₵2,500 and GH₵3,500 if you want to rent a two-bedroom apartment in Accra. However, ‌expect to pay between GH₵1,500 and GH₵2,500 to rent a two-bedroom flat in Kumasi.

How Much is the Cheapest House in Ghana?

The most affordable price for a house in Ghana is GH₵21,756. While the most costly one is GH₵967,017,940. Verified real estate agents, homeowners, and well-known real estate developers have listed these homes.

Buying a House in Ghana and Paying Monthly: Pros and Cons

Buying a house in Ghana and paying for it on a monthly basis, often through a mortgage or installment plan, can be a viable option for those looking to invest in real estate. Like any other financial decision, buying a house in Ghana comes with both pros and cons. Below, we outline the pros and cons of this approach:


  • Homeownership: Owning a house provides a sense of security and stability. It allows you to establish roots and create a permanent residence for yourself and your family.
  • Long-Term Investment: Real estate often appreciates in value over time. Buying a property can be a valuable long-term investment, potentially offering a return on investment when you decide to sell.
  • Monthly Payments: Paying for a house in monthly installments can make homeownership more accessible. It allows you to spread the cost over several years, reducing the need for a substantial upfront payment.
  • Predictable Expenses: With a fixed-rate mortgage, your monthly payments remain stable, making it easier to budget and plan for other expenses.
  • Tax Benefits: In some cases, you may be eligible for tax benefits or deductions related to your mortgage interest payments, potentially reducing your overall tax liability.
  • Asset Ownership: As you make monthly payments, you gradually build equity in your home. This asset can be leveraged in the future for other financial opportunities.


  • Interest Costs: Mortgages typically come with interest payments, which can significantly increase the overall cost of your home over the life of the loan.
  • Financial Commitment: Buying a house is a long-term financial commitment. If you face unexpected financial challenges, keeping up with monthly payments can become a burden.
  • Down Payment: While monthly payments are spread out, you may still need to make a substantial down payment initially, which can be a significant financial hurdle.
  • Market Fluctuations: Real estate markets can fluctuate. The value of your property may not always appreciate as expected, potentially impacting your investment returns.
  • Risk of Default: Failing to make mortgage payments can result in foreclosure, leading to the loss of your home and damage to your credit.
  • Maintenance Costs: As a homeowner, you are responsible for maintenance and repair costs, which can be unpredictable and add to your overall housing expenses.
  • Opportunity Cost: Funds tied up in your home could be invested elsewhere for potentially higher returns. Real estate investments may not always outperform other investment options.

Before deciding to buy a house in Ghana and pay monthly, it’s essential to carefully assess your financial situation, future plans, and overall objectives. Consider factors like your income stability, the local real estate market, and your ability to manage ongoing homeownership expenses. Additionally, consulting with a financial advisor and conducting thorough research can help you make an informed decision that aligns with your financial goals and lifestyle.


You must understand Ghanaian real estate history if you intend to purchase a home here and make monthly payments. Ghana’s government has been working to develop ways to control the market as house prices have been rising for some time. So, once you’ve found a home, make sure you’re prepared to make monthly payments to avoid any issues.

Online searches are the most effective approach to finding a home in Ghana, but if you prefer more specialized help, ‌consult your friends and coworkers. Be cautious when searching for a home because, after you purchase one, it may be nearly impossible to sell it.

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