The cost of buying property in Ghana: taxes & fees
Buying property in Ghana involves understanding various costs beyond the purchase price. This guide provides insights into both one-off expenses at the time of purchase and recurring costs once you own the property.
It's important to remember that property laws and associated fees can vary significantly by region. Always consult official sources and local professionals for the most accurate advice.
One-off Purchase Costs
When buying property in Ghana, expect to incur several one-off costs. The primary expense is the property transfer tax, which is commonly in the range of 5-7% of the property value, depending on the district.
Additional costs include notary fees for the signing of documents and registration with the Lands Commission, as well as legal fees that vary based on the complexity of the transaction and the lawyer's rates.
- Transfer tax: 5-7% of property value
- Notary fees: variable, often around 1-2%
- Legal/conveyancing fees: typically 1-3%
Total Percentage to Budget
In general, you should budget a total of approximately 10-15% of the property price for all one-off costs. This range provides a rough estimate, but actual costs can vary by location and the specifics of the sale.
Worked Example
Suppose you are buying a property valued at GHS 400,000 in Accra. If we assume a 6% transfer tax, that amounts to GHS 24,000. If you estimate notary and legal fees at a combined 4% of the purchase price, that's another GHS 16,000.
In total, your one-off costs would be approximately GHS 40,000, adding up to about 10% of the property value.
Recurring Costs of Ownership
As a property owner in Ghana, you will also face recurring costs. Property tax is generally around 0.5-1% of the property's appraised value annually, depending on the local authority.
You should also consider community or condominium fees, which can vary significantly, as well as utilities and property insurance. Budgeting for these annual expenses is essential to ensure ongoing affordability.
- Annual property tax: 0.5-1% of value
- Community fees: variable
- Utilities: based on usage
- Insurance: varies by provider
Mortgage Costs for Non-Residents
If you are a non-resident looking to secure a mortgage in Ghana, many banks may offer loans, but conditions can be stricter compared to local residents. Expect higher interest rates and varying down payment requirements, often in the range of 30-50% of the property's value.
Consulting with local banks and mortgage brokers is vital for understanding your options and any associated fees.
Frequently asked questions
What is the transfer tax rate in Ghana?
The transfer tax rate typically ranges from 5-7% of the property value, depending on the district.
Are legal fees included in the purchase price?
No, legal fees are separate and can vary between 1-3% of the property value depending on the complexity of the transaction.
What ongoing costs should I expect after buying property?
Recurring costs include property tax (generally 0.5-1% of the appraised value), community fees, utilities, and insurance.
Can non-residents get a mortgage in Ghana?
Yes, but terms can be stricter with higher interest rates and larger down payments, typically 30-50% of the property's value.
This guide is general information, not legal, tax or immigration advice. Rules change — verify the current position with official sources and a qualified professional before acting. Last reviewed September 2026.