Kennedy Agyapong, a Ghanaian businessman and former member of parliament for Assin Central, has said he regrets owning over 277 houses in Ghana.
According to Kennedy Agyapong, if he had invested his money in building businesses, he would have had a lot of money.
Mr Agyapong emphasised that a $500,000 property at Cantoment can only be rented for $4000 a month, but doing business with that $500,000 and getting just 10 per cent is better.
He noted that his over 277 houses are a waste as he cannot find people to rent them.
Speaking on the Konnected Minds Podcast, Mr Agyapong detailed, “Let me tell you, when you have a property at Cantoment $500,000, your rent will not be more than $4000 a month, but if you use the $500,000 to do business and you make 10 per cent, I am just drawing your attention.
I have so many people here that I have regretted, some of them I don’t even know, I don’t remember unless I tell my cousin and those things”.
He added, “I have regretted it because if I had invested that money in business, young man, I would have made a lot of money. I have over 277 houses in Ghana, and it is a waste. I have regretted buying those houses because I don’t get people to rent them”.
Mr Agyapong further revealed that he chose not to sell the houses because he wants his kids to inherit them.
“I don’t want to sell, I want to give it to my kids. I have many kids, so I want to share it with them. My plan is, if you are a girl or woman, you marry and your relationship does not work, you come back home, you have your properties, you can dispose of some of them to start a business.
This is how I think aloud, how to help, but in actual fact, if I had invested that amount of money in a business, you know how much I would be making”, Ken Agyapong revealed.
According to Kennedy Agyapong, building one house is okay as a backup in case one’s business collapses, that property can be disposed of to start afresh.
“The house at Cantoment, you can have one that’s okay, no problem, as a security or backup in case your business collapses, your property becomes a fallback that you can dispose of”, Mr Agyapong asserted.
Kennedy Agyapong further recounted an encounter he had with former Black Stars player Sully Muntari. Who asked him whether his business had collapsed before?
He added, “I think in 1990, I had 11 houses, but I had to sell 6 of them to start life again, houses at Tesano, Achimota. I disposed of all those properties to start life again.
At that time, anybody with the exception of the Real Estate guys building anybody selling his properties mean he is broke”.
Meanwhile, some Ghanaians have shared their comments about Kennedy Agyapong’s remarks, “Good advice from Hon. I’m building only 5. Two already complete, three ongoing (under construction). The rest of the money I’m saving for businesses!”.
Another netizen wrote, “Saying you have houses for your female kids to come back to when their marriages don’t work will make them look down on their husbands. “After all, I have a property, so you can’t control me” It’s good to leave property for your kids, but the reason naaa”.
One more netizen wrote, “This doesn’t make sense to me. Real estate is a booming business; he’s admitted he intentionally doesn’t sell his houses because he wants his kids to inherit them, and yet he’s complaining? In economics, there’s opportunity cost, and you can’t eat your cake and have it!”.
Additionally, another social media user wrote, “Like I’ve always been saying, some landlords see the rental market as a get-rich scheme so they resort to increasing rent crazily. It takes a long period to recoup your money, factoring in sinking funds for maintenance. It’s a good hedge against inflation”.
Watch the video below:
Why rental properties may be a bad idea!
— Derrick K Abaitey (@deeabaitey) August 1, 2025
I own 277 in Ghana 🇬🇭
Hon Kennedy Agyapong speaks pic.twitter.com/nowXXCU3ez