The reality is land prices in Ghana are not going down. The African Investor reports that in 2024, residential properties in Accra on average increased by 5%. Similarly, land prices are not getting cheaper. Whether it’s Accra, Kumasi, Takoradi, or even smaller towns, land has become more expensive every year. But what’s really behind it?
In this post, we take an honest look at the factors driving up land value in Ghana, the impact of real estate inflation, and what the latest land price trends in Ghana mean for buyers, investors, and developers.
Demand is Outpacing Supply
More people want to buy land than is available, especially in popular locations. A growing middle class, expanding businesses, and interest from the Ghanaian diaspora are all pushing demand up.
At the same time, land in prime areas like East Legon, Airport Hills, Spintex, Cantonments, and Dzorwulu is limited. Once it’s developed, that’s it. No new land can be created there. That imbalance between demand and supply causes land value in Ghana to rise steadily.
Urbanisation and Population Growth
Ghana’s population keeps growing, especially in urban areas. According to the Ghana Statistical Service, urban areas now house more than half the population. And that means more people need homes, shops, offices, and schools.
As towns like Kasoa, Pokuase, Oyibi, and Amasaman grow, they’re also becoming new hotspots. This expansion pushes land prices in Ghana upward—not just in city centres but also in fringe and peri-urban areas.
Infrastructure Development
Once roads are tarred, electricity poles go up, and water systems are installed, land prices rise. And they rise fast. Areas like Community 25, Oyarifa, and Prampram have seen big jumps in land value in Ghana simply because new roads or bridges made them easier to reach.
Here’s the truth: developers and landowners often wait until the government announces new infrastructure projects. As soon as construction begins, prices shoot up, even if the work isn’t finished yet.
Diaspora Factor
Ghanaians abroad are buying land more than ever. Many want to build retirement homes, invest in rentals, or secure something for the future. Their dollars, euros, and pounds give them an edge in buying power.
That interest adds to the competition and makes it harder for locals earning in cedis to keep up. This is one of the lesser-known drivers of real estate inflation in Ghana, but it’s real.
Land Ownership Confusion
Ghana’s land system can be confusing. You have family lands, stool lands, government lands, and private freehold lands, all with different rules. In many areas, people buy land without full registration or documentation.
This uncertainty creates risk. So, when land is properly documented (with a land title or a clear indenture), it becomes more valuable. That trust and clarity come at a higher price.
Also, land litigation is common in some areas, which reduces the amount of ‘safe’ land available, thus raising the price of land that is already confirmed and trouble-free.
Real Estate is Seen as a Safe Investment
In uncertain economic times—like periods of high inflation or currency depreciation—Ghanaians prefer to put their money into real estate. Why? Because it’s a physical asset, it doesn’t lose value easily, can be passed on to future generations, and can generate rental income.
Given the low patronage of our stock market and reduced yields on government treasuries or savings in banks, more are turning to land. That extra demand fuels land price trends in Ghana, especially in stable or growing regions.
High Cost of Land Documentation and Building Permits
Once you survey a land, buy it, register it at the Lands Commission, and get a permit can be expensive. These hidden costs are often added to the sale price. Sellers or agents know that buyers will still have to spend more after the purchase, so they price the land higher from the start. This adds to the overall real estate inflation in Ghana.
Land Speculation
Some people buy land not to use it, but just to hold it until prices go up. This is called land speculation. It’s very common, especially in fast-developing areas. Speculators often buy large plots, sit on them for a few years, and then sell at double or triple the price.
While legal, it drives up prices for everyday buyers who just want a plot to build a home.
Inflation and Currency Issues
Inflation affects everything, including land. In 2024, Ghana recorded an inflation rate of over 23%. That weakens the value of the cedi and increases the cost of goods, services, and building materials.
Landowners and agents adjust their prices to keep up. That’s why even if land doesn’t physically change, its price goes up to reflect the cost of living and the falling strength of the cedi. This is one of the biggest causes of real estate inflation in Ghana today.
Where are Prices Rising the Most?
A few places are experiencing sharp increases in land value in Ghana:
- East Legon Hills. New estates, good roads, and high-end demand
- Pokuase. Access to the interchange, residential growth
- Prampram. Close to the sea, but still affordable, for now
- Oyibi and Oyarifa. Mid-range buyers are moving in fast
- Kumasi outskirts. Ejisu, Buokrom, and Abuakwa are picking up
- Takoradi. Driven by the oil and gas sector interest
These are considered emerging hotspots, and buyers are rushing in before prices climb even higher.
Conclusion
Land prices in Ghana aren’t rising by accident. It’s the result of demand, infrastructure, legal clarity, and economic pressures all happening at the same time. If you’re planning to buy land, do it with clear information.
Understand the current land price trends in Ghana, consider future developments, and work with trusted professionals. And remember, good land isn’t getting cheaper.