Is Labone a good property investment? Yes, with one condition: the right unit at the right price. Two apartments sit 400 metres apart. One lets in three weeks. The other stays empty for five months. Same neighbourhood, different unit, different finish, different manager. Labone rewards precision, not enthusiasm.
Why Labone keeps its value
Labone sits between Osu and Cantonments, with quick access to Airport City, Kotoka International Airport, embassies, schools and hospitals.
New towers keep appearing, so how is supply tight? Horizontal supply is finished. Vertical supply is growing. What protects you is the stock you own. Serviced-standard buildings stay a minority of the rental pool, while older walk-ups lose tenants every leasing cycle. Buy the newer end and compete upward.
Buying to live rather than let? Ask about generator coverage per unit, water storage, parking ratio, and the share of short-let units.
Who rents in Labone
Embassy and diplomatic mission staff, NGO and development sector professionals, corporate executives on assignment, international consultants on 6- to 24-month contracts, Ghanaian professionals working in central Accra, Diaspora owners keeping an Accra base
These tenants sign longer leases and pay reliably. A solvent tenant profile does more for returns than any marketing budget.
What the 2026 numbers suggest
Furnished one-bedrooms in Labone let at roughly $1,000 to $1,700 per month. Two-bedrooms run $1,800 to $3,000.
Method matters, because Accra quotes yields inconsistently. Gross yield is annual rent at full occupancy divided by price. Net subtracts service charge, management fee, vacancy, maintenance and the 8 percent withholding tax on residential rent. Net is the number reaching your account.
TABLE Worked example, one-bedroom at $155,000
| Line item | Conservative | Strong |
|---|---|---|
| Monthly rent | $1,100 | $1,500 |
| Occupancy | 10 months | 11.5 months |
| Rent collected | $11,000 | $17,250 |
| Management fee | minus $1,100 at 10% | minus $1,380 at 8% |
| Service charge | minus $1,800 | minus $1,800 |
| Maintenance and furniture reserve | minus $900 | minus $900 |
| Withholding tax at 8% | minus $880 | minus $1,380 |
| Net income | $6,320 | $11,790 |
| Net yield | 4.1% | 7.6% |
A studio at $105,000 lands between 4.3 and 8.2 percent net. The honest range is 4 to 8 percent net across both types. Anyone quoting 18 percent means gross rent at perfect occupancy with nothing deducted.
The cost nobody prints
Moonbow is under construction (off-plan). Off-plan means capital goes out in stages and first rent arrives roughly two months after handover. Your blended return across the first five years sits below the stabilised yield above. Buyers accept this for staged payments and a lower entry price. The trade is fair.
Currency: dollars or cedis
Bank of Ghana Notice BG/GOV/SEC/2025/26, August 2025, restates the cedi as sole legal tender and names real estate rental directly. Foreign currency invoicing stays permitted to expatriates and non-residents, through a Foreign Exchange Account at a licensed bank, at rates benchmarked to the central bank reference rate. Resident tenants pay in cedis. The risk sits between an advertised dollar rent and a cedi collection at a rate never agreed in writing. Fix the mechanism in the lease.
Is Labone a good property investment for every buyer? Five factors decide
Entry price: Overpaying for the postcode damages yield on day one.
Unit size: Compact units let and re-let faster here.
Finish: Corporate tenants compare your unit against serviced apartments.
Management: Slow response times cost renewals, where returns live.
Building fit: A family layout struggles in a market of singles and couples.
Moonbow Labone: the specification
| Feature | Detail |
|---|---|
| Developer | VAAL Real Estate Ghana |
| Location | Labone, Accra |
| Unit types | Studios and one-bedroom apartments |
| Studio price | From $101,000, VAT inclusive |
| One-bedroom price | From $155,000, VAT inclusive |
| Unit sizes | Studios 32m²-40m² (gross), One-bedrooms 54m²-69m² (gross) |
| Price per square metre | Contact VAAL Real Estate |
| Status | Under construction, progress reports published through 2026 |
| Estimated handover | 2029 |
| Payment structure | Staged off-plan instalments [Contact VAAL Real Estate for schedule] |
| Estimated service charge | Contact VAAL Real Estate |
| Rental management | Provided by VAAL Real Estate |
| Nearest landmarks | Republic Bank Private Bank Labone on the doorstep, Moka’s Resto Cafe 200m, Palace Mall and Labone Arcade 750m, Cantonments Police Station 1.2km, US Embassy 2.0km, The Bank Hospital 2.2km, 37 Military Hospital 3.5km, Kotoka International Airport 5.0km |
| Amenities | Swimming pool, equipped gym, resto cafe, pharmacy, mini-mart, office space, game room, kids area, indoor lounge, rooftop BBQ and outdoor lounge |
Studios and one-bedrooms hold the strongest rental liquidity in Labone and cost less to furnish. Amenity depth shortens vacancy, because international tenants shortlist buildings, not bedrooms.
Management and exit
Management decides outcomes more than purchase price does. An unmanaged apartment owned from London produces late rent, unresolved faults and an empty third year. Ask who lets the unit, who remits rent and when, who handles arrears, the fee, and whether furnishing comes at handover.
On exit, the buyer pool for a $120,000 to $180,000 apartment is far wider than for a $600,000 one. Plan six to twelve months of marketing, since Accra resale moves slower than London.
Before you sign
Title and sub-lease terms lodged at the Lands Commission Service charge rate, scope and revision frequency Rental comparables within 500 metres, not neighbourhood averages Payment schedule tied to construction milestones, with refund terms in writing Currency and settlement mechanism in the draft lease Legal fees, stamp duty and registration
Model two months of vacancy, not zero.
The honest answer
Is Labone a good property investment? For buyers seeking durable, location-backed income from solvent tenants, yes, provided you enter at a sensible price, furnish to the standard corporate tenants expect, and put professional management behind the asset. Run net numbers, budget for the holding period, settle currency in the lease. Moonbow gives you the compact unit type Labone rents fastest, at an entry point most stock here no longer offers.
Frequently asked questions
Q1. What returns should you expect from a Labone apartment?
Plan for 4 to 8 percent net on a well-priced furnished unit, after service charge, the 8 percent withholding tax on residential rent, management fee, vacancy and maintenance. Gross yields quoted in the market run higher because they assume full occupancy and deduct nothing.
Q2. Are studios or one-bedrooms better for rental income in Labone?
Studios offer the lower entry cost and a slightly higher percentage yield. One-bedrooms attract couples and longer corporate leases with fewer turnovers. Many investors hold one of each.
Q3. Is Labone better than Cantonments, Osu or Airport Residential?
Cantonments feels quieter and more diplomatic. Airport Residential is more corporate and airport-linked. Osu is busier and nightlife-driven. Labone balances quiet streets with dining, retail and central access, which widens your tenant pool.
Q4. Are foreigners allowed to buy an apartment in Labone?
Yes. Non-Ghanaians buy apartments in Ghana on leasehold terms, with no restriction on owning the unit itself. Ghana grants leaseholds to non-citizens for up to 50 years, renewable.
Q5. How do off-plan payments work at Moonbow?
VAAL uses staged instalments across the construction period, matched to build progress rather than mortgage financing. Request the current schedule for your unit type, including reservation fee, deposit and the balance due at handover.
Speak to VAAL about Moonbow Labone
Request availability, floor plans, unit sizes and the current pricing sheet for Moonbow studios and one-bedroom apartments. Ask for rental comparables in the immediate area so you buy with numbers rather than assumptions.
Visit vaal.com.gh/moonbow Toll free: 0800 888 888 Hotline: +233 243 389 999 Email: info@vaal.com.gh Sales office: One Airport Square, 3rd Floor, Office No. 4, Airport City, Accra