Konnected Minds Podcast
Episode: “Property Tax Won't Make You Homeless, But Land Fraud Will.”
Host: Derrick Abaitey
Date: December 15, 2025
Episode Overview
In this episode, Derrick Abaitey and his guests dive into the complexities of real estate ownership in Ghana and Nigeria, with a special emphasis on land fraud versus property taxation. The conversation demystifies the risks associated with owning property in West Africa, the role of governance and leadership in the real estate sector, and practical advice for both locals and diaspora investors. The episode ultimately argues that while property taxes are not a significant risk, land fraud poses real dangers to homeownership and wealth-building.
Key Discussion Points & Insights
1. The Prevalence and Risks of Land Fraud
Timestamps: 00:00–02:18
- Multiple Sales, Greed, and Individual Credibility:
- The panel discusses how land can be sold to multiple buyers, creating future legal disputes.
- “You can do all the search, everything can be perfect. But then I sell it to Derek and then I sell it to COD within a month. You will never know.” — Speaker A [00:04]
- The problem is described as not systemic but rooted in personal greed and lack of credibility on the ground.
2. Home Ownership Statistics in Ghana vs. Nigeria
Timestamps: 00:29–01:00
- 42% of Ghanaians own their homes, compared to only 25% of Nigerians.
- “The population in Nigeria is quite big... people take pride in owning their homes [in Ghana] and having that space.” — Speaker A [00:38]
3. Systemic Challenges: Governance and Leadership Impact
Timestamps: 01:00–02:18
- Leadership and purchasing power in African cities are discussed as core barriers to increasing homeownership.
- “Africa is built in a way that if you don’t take care, the system will always be against you.” — Speaker C [01:02]
- Economic disparities between city areas (mainland vs. island in Lagos), and accessibility of capital are highlighted.
4. Is Ghana (or Africa) Still Good for Real Estate Investment?
Timestamps: 02:18–04:35
- Despite issues, Ghana is seen as a promising real estate market, with ongoing land purchases.
- Personal anecdotes about successful land purchases—often enabled by relationships and due diligence.
- “There’s a lot of risks… but there are people buying land left and right. I’ve been involved in over 200 land sales. ...You sometimes have to align yourself with someone who knows what they are doing.” — Speaker A [02:34–04:13]
5. The Dubai and Rwanda Solutions: Models of Secure Land Deals
Timestamps: 04:35–07:13
- Dubai’s system: government escrow accounts protect buyers, funds not released until projects are complete.
- “The buyer of the property is not paying directly to the developer. They pay into an account that has an escrow with the developer and the government.” — Speaker C [05:07]
- Rwanda’s national land registry app provides full transparency on land ownership.
- “In Rwanda there’s an app… once you have that app and you scan it, you can tell everything, the size, owners, the price detail.” — Speaker C [05:44]
- The panel advocates for similar transparency and government intervention in Ghana.
6. The Reality of Land Litigation and Stress for Buyers
Timestamps: 05:54–07:13
- Real estate can be a nightmare if due diligence fails.
- “Owning a land in Ghana... is difficult and it might be your worst nightmare. ...Go to the court, tell them to give you their calendar and take out the land court cases and just witness for yourself.” — Speaker C [06:13]
7. The Limits of Real Estate Investing (and the Kennedy Agyapong Case Study)
Timestamps: 07:13–11:28
- Ghanaian MP Kennedy Agyapong’s regrets about owning over 200 properties: too much stress and questionable cash flow.
- “He says he regrets owning over 200 properties in Ghana.” — Host [07:16]
- “First of all, it’s stressful. …Maybe owning your primary home for me is a lifestyle choice more than investment.” — Speaker A [07:21]
- Property as a security, not just an investment:
- “If you have that house and you are broke, you don’t care about maintenance, right? …because you know where to lay your head.” — Speaker A [08:26]
- “Property tax, how much is it? It’s not something that stresses you out no matter how broke you are... I’ve never heard somebody that said property tax, because of property tax, they’ve lost their home in Ghana.” — Speaker A [08:38]
- Diversification and property management as solutions for large property portfolios.
- “You don’t put all your investment in one location. ...I have friends who are specialized in property management and they can even guarantee you and give you an amount every month.” — Speaker C [09:55]
Notable Quotes & Memorable Moments
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On Systemic Problems and Greed:
- “You can do all the search, everything can be perfect. ...Some people can sell it to five different people. ...It’s just greed, and the attitude of the people on the ground.” — A [00:00]
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On Real Estate as a Lifestyle Choice:
- “Maybe owning your primary home for me is a lifestyle choice more than investment. ...That’s what saved me when I was down here. ...You can figure things out because you know where to lay your head.” — A [08:10]
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On Secure Models Abroad:
- "In Rwanda there’s an app… once you have that app and you scan it, you can tell everything... they've been able to build the data." — C [05:44]
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On the Real Danger:
- "Property tax, how much is it? ...I’ve never heard somebody that said property tax, because of property tax, they've lost their home in Ghana." — A [08:38]
Important Timestamps
- 00:00 — Multiple land sales, fraud risk
- 00:29 — Homeownership stats Ghana vs. Nigeria
- 01:00 — Leadership, purchasing power, governance
- 02:18 — Viability of African real estate investment
- 04:35 — Dubai/Rwanda models for property security
- 05:54 — Stress and reality of land litigation
- 07:13 — Kennedy Agyapong’s regrets, property as lifestyle vs. investment
- 09:23 — Property management, investment strategy
Tone & Final Takeaways
The tone is practical and candid. The hosts and guests blend personal experience and data to paint a real picture of challenges and opportunities in African real estate. The hard truth: property tax is rarely the problem—land fraud and ownership disputes, rooted in both a lack of systemic transparency and individual greed, are what truly threaten your investment and sense of security.
Summary:
If you’re investing in African real estate, partner with the right people, do relentless due diligence, and keep your expectations realistic: owning land can bring security but not without risk, especially in Ghana and Nigeria. Large portfolios add stress rather than guaranteed wealth. Consider models like Dubai and Rwanda, where transparent systems protect both buyers and developers, as ideal examples for reform.