The cost of buying an apartment in Accra goes beyond the price, especially when the unit is priced in dollars. This budget lists each line, shows a worked example on a USD 107,000 studio and tells you what to ask for in writing.
Line 1: The Purchase Price
Confirm whether the quoted price includes VAT. Regalia studios start from USD 107,000, VAT included. Other developers quote prices before VAT, which adds to the total. Read our VAT guide for property buyers.
Line 2: Reservation Fee
Most developers take a reservation fee to hold the unit. Ask whether the fee counts toward the price and whether any part is refundable. Get the answer in the reservation agreement.
Line 3: Legal Fees
You pay your own lawyer to review the agreement, run searches and handle the transfer. Ask for a written fee quote before you appoint.
Line 4: Stamp Duty and Registration
Stamp duty and Lands Commission registration fees apply on transfer. Rates change, so ask your lawyer for current figures in writing. Our property tax guide covers the taxes foreign investors face.
Line 5: Transfer and Exchange Costs
Sending dollars from abroad costs money. Your bank charges a fee and applies an exchange spread. Compare banks and transfer services before you send large sums. Keep proof of every transfer.
Line 6: Running Costs After Purchase
- Service charge for the building
- Property rate to the local assembly
- Insurance
- Utilities while the unit stands empty
- Furnishing
- Property management if you live abroad
A Worked Example: The Cost of Buying an Apartment in Accra
Our price guide estimates closing costs on a clean purchase at about 6 to 12 percent of the price. This covers stamp duty, legal fees, registration and survey. The table applies this range to a USD 107,000 studio.
| Closing costs | Amount | Total cash needed |
|---|---|---|
| 6 percent | USD 6,420 | USD 113,420 |
| 12 percent | USD 12,840 | USD 119,840 |
Treat these as planning figures. Replace them with written quotes from your lawyer.
Ask for These in Writing
- Price, VAT treatment and currency
- Reservation fee terms
- Payment schedule, with account details in a law firm name
- Service charge schedule
- Handover date and the penalty for delay
When the Money Moves
- At reservation: the reservation fee
- During construction: milestone payments against written demands
- At transfer: legal fees, stamp duty, registration and survey
- After handover: service charge, property rate, insurance and management
Our guide to milestone payment plans explains how stages link to payments.
How to Cut Transfer Costs
Ask two or three banks and transfer services for a written quote. Compare the exchange rate each offers with the rate published by the Bank of Ghana. Fewer, larger transfers often cost less in flat fees than many small ones. Keep a record of every transfer. You need the records to prove the source of funds and to repatriate income later.
Frequently Asked Questions
Is VAT included in the Regalia price?
Yes. Regalia studios start from USD 107,000, VAT included.
Who pays legal fees?
You usually pay your own lawyer. Confirm who pays each other fee in the agreement.
Do I pay in cedis or dollars?
Prime developments price in US dollars. Ask the developer whether a cedi equivalent is accepted, and at what rate and date.
Talk to Our Team
Regalia by Imaani Homes offers studios, one-, two- and three-bedroom residences and penthouses in Airport Residential, Accra. Studios start from USD 107,000, VAT included. Visit the Regalia page or WhatsApp +233 595 959595.