A recent continental comparison by Fortren & Company has revealed that Accra, Ghana's capital, now ranks as the third most expensive city in Africa to rent a high-end two-bedroom apartment. The average annual rent for such an apartment in Accra is approximately GHS 305,565.71, which translates to about $26,299. This ranking places Accra ahead of Lagos, Nigeria's commercial capital, which averages $19,379 a year.
According to the analysis, the top three most expensive cities for high-end rentals in Africa are Abidjan, Côte d'Ivoire, Cape Town, and Accra. Abidjan leads the list with an average annual rent of $41,671, while Cape Town follows in second place at $27,138 a year. The high cost of rentals in Cape Town is attributed to strong demand and a shrinking long-term housing supply as landlords convert properties into short-term and tourist rentals.
The Fortren analysis highlights that the average annual rent for a high-end two-bedroom apartment in Accra works out to roughly $2,192, or about GHS 25,468.65, every month. In contrast, Nairobi, one of the cities surveyed, is the cheapest, with an average annual rent for the same class of apartment at just $10,700. This is less than half of Accra's figure. Other cities surveyed include Casablanca, Kigali, Dar es Salaam, Douala, and Cairo, all of which recorded lower average rents than Accra.
The research by Fortren & Company focused on 10 major African cities chosen for their economic weight, the presence of expatriates and mobile professionals, and the development of their rental markets. The figures reflect high-end and mid-market neighborhoods rather than what the average city resident pays. In Accra's case, the data centers on areas such as Cantonments, East Legon, and the Airport Residential Area, where demand from multinational firms, diplomatic missions, and NGOs keeps prices elevated.
The ranking of Accra's high-end rental market comes against the backdrop of a continent-wide housing shortfall of more than 53 million units, with home ownership across Africa sitting below 40%. As urban migration continues, pressure on available rental stock keeps building. The firm also notes that roughly half of Africa's traditional rental markets demand at least three months' rent upfront.
In Ghana, landlords commonly ask tenants for one to two years' rent in advance, on top of agency fees, deposits, legal charges, and other service costs that push the real cost of securing a home even higher. For middle-class Ghanaian renters, the figures add a fresh data point to long-running concerns about the cost of housing in Accra, where advance-rent demands already force many tenants to save for months or borrow simply to move into a new apartment.
The Fortren analysis does not break down costs for lower-income neighborhoods, so it remains unclear how the wider rental market outside high-end enclaves compares across the cities studied. Fortren & Company has not indicated when its next comparison will be published, and no Ghanaian government agency has yet responded publicly to the ranking.
Key points
- Accra ranks third on a list of the continent's 10 priciest cities for high-end rentals.
- The average annual rent for a high-end two-bedroom apartment in Accra is approximately GHS 305,565.71.
- The continent-wide housing shortfall is more than 53 million units, with home ownership across Africa sitting below 40%.
