Kennedy Agyapong Advises People Who Want to Go Into Real Estate: "Beware Of Land Guards"

Kennedy Agyapong Advises People Who Want to Go Into Real Estate: "Beware Of Land Guards"

  • The Assin Central MP and businessman, Kennedy Agyapong, has advised people in Ghana in an interview about the issues surrounding Ghana's real estate industry
  • The politician lamented the expensive prices of properties in the country as compared to others in various countries worldwide
  • Kennedy Agyapong admonished Ghanaians to beware of land guards, saying that he is not a cowardly man, yet some people sold off his land

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Controversial politician Kennedy Agyapong advised Ghanaians in a video shared on YouTube by SIKA BA TV to beware of certain anomalies in Ghana's real estate sector. He said in the interview that going into real estate was not a bad idea, but the industry in Ghana is not the best.

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Kennedy Agyapong, MP for Assin Central
Kennedy Agyapong, MP for Assin Central. Photo credit: NET2 TV
Source: UGC

Kennedy Agyapong explained:

Ghana is rated the second most expensive country in the world in terms of real estate after Japan

He explained how he bought a house for $1.1 million, but when he went back within a short period to buy another one for his daughter, the price had shot up to $1.7 million. He advised the youth to be familiar with how much real estate is costly in Ghana before venturing into it.

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Watch a snippet of the interview below.

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Secondly, Kennedy Agyapong talked about the country's land guards issue. He said that issues of land guards make real estate investment unattractive in Ghana. The politician explained that it wasn't so at first, but chieftaincy disputes made desperate chiefs employ the services of mercenaries.

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A real estate development in Ghana
A real estate development in Ghana. Photo credit: Mobus Properties
Source: UGC

He advised people going into real estate to tread cautiously about purchasing land. Instead, he advised that the best thing people can do is buy properties in gated communities.

Kenney Agyapong further added that the real estate industry in Ghana is now choked, so if people do not take care but enter with a lot of money, their capital may be locked. He clarified:

The real estate industry is saturated. When everybody gets money, they want to put up houses so there are many buildings lying around with no one occupying them.

4 Important Questions People Must Ask Before Buying or Renting a Property in Ghana

In an earlier story, wrote about important questions people should ask before acquiring a property in Ghana. Before deciding to buy or rent an apartment, there are several crucial issues to consider.

Many people may have the funds to purchase a property, but they might not receive the greatest deal possible because they are ignorant of the real estate market. By posing questions, the buyer may eliminate houses that may not be the greatest fit for them and make the best choice possible.

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