I have over 277 houses, I don't get people to rent them - Kennedy Agyapong

A flagbearer hopeful of the New Patriotic Party (NPP), Kennedy Agyapong, has expressed regret over investing heavily in real estate in Ghana instead of channelling his resources into business ventures.

Speaking on the Konnected Minds Podcast, the former Assin Central Member of Parliament revealed that he owns over 277 houses across the country, many of which remain unoccupied or unrented.

“I have so many houses here (Ghana) that I have regretted. Some of them, I don't even know,” Mr Agyapong said. “I have regretted because if I had invested that money in business, 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.”

He explained that owning luxury properties does not necessarily translate into regular income. For instance, he noted that a property valued at $500,000 might only fetch about $4,000 in monthly rent, which he considered a poor return compared to investing the same amount in business.

Mr Agyapong, however, said he has no intention of selling the houses. Instead, he plans to leave them to his children, whom he said could rely on the properties as a form of security.

“My plan is, if you're a girl or a woman, you marry and your relationship doesn't work, you come back home, you have your properties, you can dispose of some of them to start a business,” he explained.

Recounting his early financial struggles, Mr Agyapong said in 1990, he was forced to sell six out of 11 properties to restart his life.

“At that time, anybody selling their property, except the real estate guys building, means he was broke. But I had to do it to start over,” he added.