Is buying an apartment in Labone a good way to earn rental income? Yes, buying an apartment in Labone works for rental income when the rent still covers vacancy, service charges, management, maintenance and taxes. VAAL Real Estate, developer of MOONBOW in Labone, models a $155,000 one-bedroom at about 7.6% net yield in a conservative scenario, and the area’s position beside Cantonments, Osu and Airport City draws professional, corporate, international and diaspora tenants.
The mistake is buying the apartment first and asking who will rent it afterwards.
Buying an Apartment in Labone for Rental Income: Start With the Tenant
Labone attracts a useful mix of potential renters: corporate executives, international consultants, NGO and development-sector professionals, Ghanaian professionals, couples and diaspora residents maintaining an Accra base. VAAL’s current market analysis also highlights six-to-24-month international and corporate assignments as part of the tenant profile.
That matters because different tenants want different properties.
A single consultant may be comfortable in a well-designed studio. A couple relocating to Accra for two years may prefer a one-bedroom with a separate living area.
Before buying, ask:
Who is this apartment actually for?
What Are Apartments Renting for in Labone?
Current asking rents show how much the market can vary.
Recent MeQasa listings include furnished one-bedroom apartments in Labone at approximately GH₵11,140, GH₵13,506, GH₵16,392 and GH₵16,711 per month, while another 64 sqm unit is advertised around GH₵24,960 per month.
These are asking rents, not guaranteed achieved rents.
That distinction is important. Do not calculate your investment return using the most expensive listing you can find. Compare similar-sized, similarly furnished properties within the immediate area and ideally ask what tenants actually signed leases for.
Studio or One-Bedroom for Rental Income?
At MOONBOW, studios currently start from $101,000 VAT inclusive, while one-bedroom apartments start from $155,000. Studios range from 32–40 sqm, with one-bedrooms from 54–69 sqm.
A studio can offer:
- lower capital entry
- lower furnishing costs
- potential appeal to single professionals
- potentially stronger percentage yield
A one-bedroom may offer:
- higher absolute rent
- greater privacy
- broader appeal to couples
- longer corporate stays
- potentially lower tenant turnover
The best choice is therefore not necessarily the apartment charging the highest rent. It is the one producing the strongest net return over several years.
What Could You Actually Keep?
VAAL’s current Labone analysis gives a useful example for a $155,000 one-bedroom.
In its conservative scenario, monthly rent of $1,500 over ten occupied months produces $15,000 in rent. After management, service charges, maintenance/furnishing reserve and withholding tax, illustrative net income falls to about $11,790, or 7.6% net yield.
Under a stronger scenario using $2,500 monthly rent and 11.5 months’ occupancy, the model produces approximately $22,597 net income, or 14.5% net yield.
These are scenarios, not guaranteed MOONBOW returns.
That is precisely the point: gross rent and money reaching your account are not the same thing.
Long-Term Rental or Short Stay?
A long-term tenant can mean more predictable income, fewer turnovers and lower cleaning and marketing costs.
Short stays can generate higher nightly rates, but investors must account for:
- platform commissions
- utilities and internet
- cleaning
- linen replacement
- management
- furnishing wear
- changing occupancy
Before building an Airbnb or short-stay strategy around any MOONBOW unit, confirm the development’s short-let rules and management policy in writing.
A high nightly rate means very little if the apartment sits empty.
Don’t Ignore Service Charges and Management
MOONBOW is planned with amenities including a pool, gym, café, pharmacy, mini-mart, game room, office space, indoor lounge and rooftop BBQ area.
Those features may improve tenant appeal, but they also have operating costs.
VAAL currently advises buyers to request the latest estimated service charge rather than publishing a fixed amount. Rental management is also stated as available.
Before purchasing, ask:
- What does the service charge include?
- Is it calculated by apartment size?
- What is the rental-management fee?
- Who finds and screens tenants?
- Who collects and remits rent?
- Who handles maintenance and arrears?
- Is short-stay management available?
For diaspora owners, those answers may matter just as much as the rental rate.
Remember: Rental Income Does Not Start Today
MOONBOW is an off-plan development with an estimated 2029 handover and staged payments during construction.
That means capital is committed before rent begins.
Your investment analysis should therefore account for the construction period and the time required after handover to furnish and secure the first tenant. If rental income is central to your plan, also review the completion date, grace period and delay provisions in the Sale and Purchase Agreement.
Think About Your Exit Too
A rental investment should have a future buyer.
Studios can appeal to investors because of their lower acquisition price. One-bedrooms may attract a broader resale audience, including investors, professionals, couples and owner-occupiers.
VAAL’s current investment guidance recommends thinking about resale from the start rather than assuming property can be sold immediately when needed.
Rental Investment Checklist
Before buying an apartment in Labone, answer eight questions:
- Who is my target tenant?
- What are genuinely comparable rents?
- What is the annual service charge?
- What will rental management cost?
- What vacancy rate am I modelling?
- Is short-stay letting permitted?
- When can rental income realistically begin?
- Who is likely to buy this property from me later?
Frequently Asked Questions
Is Labone good for rental property?
It can be. Its central location supports demand from professional, corporate and international residents, but individual property economics matter more than the postcode alone.
How much can a one-bedroom rent for in Labone?
Current asking rents vary substantially, with recent listings ranging from roughly GH₵11,000 to GH₵25,000 per month depending on size and specification.
Is a studio or one-bedroom better?
Studios can offer lower entry costs and potentially stronger percentage returns, while one-bedrooms may attract longer stays and a wider tenant pool.
Can MOONBOW be managed for me?
VAAL states that rental management is available, but buyers should request the current scope and fee structure before purchasing.
When could a MOONBOW investor start earning rent?
MOONBOW’s estimated handover is currently 2029. Rental income would only begin after completion, furnishing and securing a tenant.
Buy for the Tenant, Then Run the Numbers
When buying an apartment in Labone for rental income, do not begin with the highest advertised rent. Begin with the tenant, model vacancy, deduct every ownership cost and decide whether the net return still works.
For investors considering MOONBOW, request the MOONBOW Rental Investment Pack with current availability, floor plans, payment terms, estimated service charges, management options and relevant Labone rental comparables before choosing a studio or one-bedroom.