Segment: Stop Waiting for Accra - Decentralize in Ghana's Housing Market

Summary

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Podcast Summary: Stop Waiting for Accra – Decentralize in Ghana's Housing Market

Konnected Minds Podcast with Derrick Abaitey
Date: August 10, 2026
Host: Derrick Abaitey (Konnected House)
Featured Guest(s): [Names not explicitly given; references to “B” and “C” suggesting two main contributors]
Theme: Rethinking and decentralizing Ghana’s housing market, wealth-building, and practical solutions for accessibility and affordability.

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Episode Overview

This episode dives deep into Ghana’s ongoing housing deficit—especially among the youth—and explores why housing development and home ownership are so centered on Accra. Derrick Abaitey and his guests critically analyze the economic, policy, and cultural forces behind Ghana’s urban focus, presenting decentralization as both a solution to housing injustice and a boost for long-term economic development. The conversation is practical, peppered with real figures, candid admissions, and a drive for actionable solutions suited to Ghana’s realities.

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Key Discussion Points & Insights

1. The State of Homeownership in Ghana

• Low Ownership Rates: Current data discussed shows an alarmingly low rate of homeownership among the youth—less than 1%, based on data about two years prior (00:30–00:53).
  • “But 78% is 1% is alarming. I think that is changing.” – B (00:35)
  • “The current housing deficit still stands at 2 million plus.” – B (00:42)
• Barriers: High costs for land/buildings and lack of affordable financing are cited as core issues.
  • “In the west, there are systems to allow them to own. But there are some issues… Because of the cost of the land and then also the buildings…” – C (00:53–01:09)

2. Decentralization: Infrastructure Must Lead the Way

• Vision for Regional Development: The guest (B), likely a developer, passionately advocates for deliberate state policy to build infrastructure outside Accra.
  • “There must be a deliberate policy to expand real estate infrastructure around the country.” – B (01:09)
  • Their vision: “Build thousand acres of city in every region.” (01:25)
• Transportation as a Game-Changer: Improved travel networks (roads, railways) and basic amenities in towns like Akosombo or Mampong can shift the market, making outer regions viable.
  • “Once the road…the travel time is reduced, we developers can now go into the outskirts where we can build reasonable and build at reasonable costs.” – B (02:19)

3. The Problem of Affordability

• Not One-Size-Fits-All: Affordability is subjective—what’s affordable to a middle-income earner is out-of-reach for most.
  • “Affordability is not standardized… What is affordable to Derek?” – B (02:45, 02:49)
• Government's Role: Only state intervention (tax incentives, subsidies on materials, infrastructure) can drive down costs on a meaningful scale.
  • “The issue about affordable housing can only be solved by the government…We are going to give you subsidy on every building material…tax holiday, a tax rebate.” – B (03:02–03:30)
• Current Developer Constraints: The cost of land and imported materials make low-cost construction extremely difficult.
  • “Providing real estate is very expensive right in Ghana because building materials are very expensive.” – B (04:25)

4. Alternative Approaches to Affordable Housing

• Flexible Construction Models: Some developers customize homes to buyer budgets, allowing incremental building.
  • “If you want to use 400,000 cities to build your home, we design according to 400,000.” – B (05:48)
• Land Retailing and Group Ownership: Breaking land into smaller plots shared by multiple buyers (e.g., four people sharing a plot in Aburi) is proposed as a practical workaround.
  • “You build a duplex…that’s four people in one.” – B (10:49)
• Collaborative Building: The idea of collective land purchase and phased self-building is emphasized as a solution for young people.

5. Challenging Existing Market Priorities

• Mismatch in Supply and Demand: Many developers target diaspora buyers with high-end homes, driving prices and leaving local housing needs unmet.
  • “Ghanaians don’t need the sort of homes that developers are building. What they need is affordable single rooms, chamber and hall.” – C quoting a tweet (06:34)
  • “I agree with them.” – B (06:56)
• Vision Over Location: Market wisdom (“location, location, location”) is challenged. The new mantra: “Vision, vision, vision”—developers should look beyond established cities to create new, thriving communities.
  • “It takes vision to create a location…that vision would then transform the location…” – B (08:00–08:29)

6. Income, Aspiration & Realities

• Unrealistic Expectations: Many Ghanaians desire grand architecture but lack the resources to support it.
  • “People have high appetite. They want to live in grand architecture, but they don’t have the resources.” – B (10:50)
• Relative Pricing: Example of land near Aburi—100,000 GHS per plot, or ~25,000 GHS/person if shared (10:39–10:50).
• Comparison to Developed Countries: The hosts highlight that commuting longer distances is common elsewhere and should become normalized in Ghana to access affordable housing.
  • “There are people in Maryland that drive an hour, two hours…in the UK to London…But our people…are shouting, it’s far.” – B (08:56)

7. Developers' Profit & Responsibility

• Developer Profits Scrutinized: Allegations that Ghanaian real estate developers earn up to 70% after sales are addressed as exaggerated, although some market absorption may be possible for greater affordability.
  • “Well, if that is it, we don’t. We don’t earn that. But I think that’s quite high.” – B (11:36)
  • “I think you can subsidize a bit for the market.” – B (11:40)

8. Pathways for Young Entrepreneurs

• Real Estate as an Opportunity: Real estate isn't just for investment—it spans a wide value chain (letting, management, development) for young entrepreneurs, if they approach it smartly and incrementally (13:04–13:23).

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Notable Quotes & Memorable Moments

• Vision vs. Location:
  “I disagree…that is not the rule. The rule is Vision. Vision, Vision…It takes vision to create a location.” – B (07:59–08:09)

• Homes for Real People, not just Diaspora:
  “Ghanaians don’t need the sort of homes that developers are building. What they need is affordable single rooms, chamber and hall—not the type of high rise… the diaspora are able to buy.” – C quoting a tweet (06:34–06:56)

• Collaborative Building and Buying:
  "A plot of land, you divide it into four... four people can acquire it. I can design an architect, a beautiful architecture on one plot for four different people." – B (09:54–09:59)

• Realism on Costs:
  “You have to build with timber. It will not be the best of architecture, but you can still do something.” – B on budget construction (04:25–04:27)

• Industry Context:
  “The return on investment on real estate in Ghana is one of the highest.” – B (04:54)

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Important Timestamps

• 00:30–00:53: The scale of homeownership issues
• 01:09–02:01: Decentralization and vision for nationwide development
• 03:02–03:30: How government policy could transform affordability
• 04:25–05:48: Challenges facing developers, possible alternative construction strategies
• 06:34–06:56: Social media critique of current market focus
• 08:00–08:29: “Vision, vision, vision” vs. location-centric development
• 10:39–10:50: Shared land purchase and group ownership in Aburi
• 11:36–11:40: Addressing profit margins in real estate development
• 13:04–13:23: Real estate as a career/business for young people

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Episode Flow & Tone

The episode balances candid critique with optimism. Derrick Abaitey and guests challenge each other and the market, pushing for vision and social responsibility in urban planning—always with real figures, street-level wisdom, and humor. There is no sugar-coating around developer profit, government responsibility, or cultural resistance to new ways of living, but the tone is constructive and motivational, aimed at inspiring listeners to think broader, for their own wealth and for Ghana as a whole.

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Summary:
Stop waiting for Accra. Build, buy, and dream where your money can go further, and where vision—supported by infrastructure—can change everything, for both individuals and the nation.

Transcript

[A]

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[B]

Why I would say that even in advanced world the entire population does not own.

[C]

Yes.

[B]

But 78% is 1% is alarming. I think that is changing. This data was from when I think

[C]

it was about two years ago.

[B]

Yeah, it's changing. I. I think that the current housing deficit still stands at 2 million plus.

[C]

But that, but that's deficit. This is ownership. Right. The young person owning their home.

[B]

Yeah.

[C]

Because in the west there are systems to allow them to own. But there are some issues. Right. Ye. So what people are saying is that it is because of the cost of the land and then also the buildings and then that's the reason why a lot of them cannot own.

[B]

Derek, I'll start by saying that there must be a deliberate policy to expand. I'm so passionate about this topic because there must be a deliberate policy to expand real estate infrastructure around the country.

[C]

Okay.

[B]

And I'll explain that. Say you are from Akosombo. The road network to Akosombo and the other various means of transportation is in a good state. The banks, the industries are there. Are you going to come to Accra to come and seek greener pastures? We must decentralize the infrastructure so that will open up the country. That's why in royal kingdom is our vision is to build thousand acres of city in every region that will become what six?

[C]

I must say. Right. I'm not, I'm not cutting you but I must say.

[B]

Yeah.

[C]

What you've just said you are doing. Right. Because I know one of your properties somewhere in every. So.

[B]

So.

[C]

So you are doing it. So you're not just saying it.

[B]

Yeah.

[C]

Right.

[B]

Thank you. So what I'm. What I'm saying is that. So the big push like what the government is doing now.

[C]

Yeah.

[B]

Is going to be very instrumental in this because once the road the travel time is. Is reduced. We developers can now go into the outskirts where we can build reasonable and build that reasonable course.

[C]

What does reasonable mean? If you built somewhere.

[B]

Yeah.

[C]

Let's say in. Somewhere in m. Yeah. A three bedroom house. How much will it cost you and how Much are you going to sell?

[B]

I will say that affordability is not standardized.

[C]

Okay.

[B]

What is affordable to Derek?

[C]

Yeah, yeah, I get it. I just want to know whether the person that is earning 5,000 cities can afford your house.

[B]

I'm coming. So I think the issue about affordable housing can only be solved by the government.

[C]

Why?

[B]

Because they have control over a lot of things. So let's say government prioritizes affordable housing and says no, it's important. Government says royal kingdom state rightly so. Government says royal kingdom estate. We can see that your real estate principle or vision goes beyond just developing high rise for high end of the market. So we are going to support you. We are building road to Suhum. We are building road to Winiba. We are building road to drop on. So we are going to give you subsidy on every building material that you purchase. We are going to give you a tax holiday, a tax rebate. We want you to build and sell at this rate. We sit down, do the mathematics and build. At the barest minimum, people should be able to acquire real estate for 200,000 cities. Two bed, two bedroom.

[C]

So I'm asking you the question, my fellow developer.

[B]

So until then, can you do that

[C]

at for say 400,000 cities? Can you build a 3 bedroom property somewhere in Mampong and sell it for that price?

[B]

You have it? No, it's impossible. You have.

[C]

It's impossible to build?

[B]

Yeah, three bedroom.

[C]

Three bedroom. It doesn't have to be a story building.

[B]

No, you have to have alternative means. It means that you have to build with timber. It will not be the best of architecture, but you can still do something. But again, what I want to say is that you see, providing real estate is very expensive, right in Ghana because building materials are very expensive.

[C]

It's not because the developers are greedy.

[B]

No, no, no, no, no, no.

[C]

Somebody said, the last episode I had, somebody said that it's just because the developers are greedy.

[B]

In some cases I may agree with them. But we must also be realistic. The return on investment on real estate in Ghana is one of the highest. Okay, so you have to look at the market because if I want to develop and I go and they tell me a land in Chado is $250,000. Cement is the same amount. They are selling it everywhere. How can I provide affordable housing? So this is what we have decided to do in a unique way. We have decided that our real estate philosophy is a tripartite one. I grew up at the country, at the countryside. So my first passion is to go into the bush. A Place that nobody thinks is possible. Design a master plan that is approved by the local authorities. Parcel this land and do what we call land retailing. Now when you acquire this land, you ask the question 400,000 cities. If you want to use 400,000 cities to build your home, we design according to 400,000.

[C]

Oh, so then that means it's possible, right? Yes. Okay, so why don't developers do it and then sell it?

[B]

We are going there. So you want to do it. So we designed a home that is $400,000. I see this. 400,000 cities. You like it? We take you throughout the process. Yep. And we build for you at your pace. That's why I said affordability is not standardized. So it means that let's say if you have a 100 acre development. Yeah. People are going to have built according to their budget. And for us in royal kingdom, that's what we have done. That has been our trump card.

[C]

Do you know what the young people are saying?

[B]

No.

[C]

This is a tweet from someone. They said that Ghanaians don't need the sort of homes that developers are building. What they need is that they want affordable single rooms, chamber and hall. Right. Not the type of high rise that is happening that the diaspora are able to have. They have the money to be able to buy those. And what it's doing is that it's causing the local prices to increase while they cannot afford it.

[B]

I agree with them. That's why I said that once we expand the infrastructure, real estate infrastructure, the roads for instance, people can go and live at so many.

[C]

Yes.

[B]

Can you buy a land encounterment for $1 million and build what you are talking about? I'm asking you.

[C]

No, you can't, you can't.

[B]

It's not realistic. We must be realistic. So what you do is to expand it to various part of the country where people can live. A very conducive and a very beautiful, in very beautiful architecture, but still enjoying life. Because a private developer goes and acquire land. Hold on. They spoke about high rise. You buy a land encantment for let's say $1 million. Yeah. 800,000. Yes, boss. Can you build the very tiny homes on it? You have wasted the land.

[C]

But a lot of the properties they are buying, they are selling to. Half of them are empty.

[B]

I'm going, I'll go there. People talk about real estate. They said location, location, location.

[C]

Yes.

[B]

I disagree.

[C]

Okay.

[B]

That is not the rule. The rule is Vision. Vision, Vision Dubai 25 years ago. 20 years ago.

[C]

That's on the Government level.

[B]

Now I'm going there. It takes vision to create a location. It takes vision, that vision to say, you know what, I'm going to so Manya. There's massive land there, reasonable price. The government is bringing the road and the infrastructure, let me build for this market, people at the lower end of the market. So that vision would then transform the location into a beautiful location that people will see today. So if once we can have the infrastructure, boss, the banks will go there, companies will go there.

[C]

Yeah.

[B]

So people don't need to come. Real estate is not expensive in Ghana.

[C]

It's not expensive.

[B]

Listen, it is expensive in Accra.

[C]

It's expensive in a brewery.

[B]

Beautiful. It's good that you've, you've raised the issue of a brewery. So the young people and also a lot of people in Ghana, one of the challenges they have is to access to capital, to have mortgage and all that. Number two, some of our people, I have done real estate for long. When you take people, you are driving people to site. Once it's above 30 minutes or 20 minutes, they are shouting, it's far. There are people in Maryland that drive an hour, two hours in other states, in other places in, in the UK to London to D.C. to work. They don't complain. But our people, we don't have the resources. We must be able to also acquire where we can be able to acquired and also at times come together. Acquire a property, let's say one plot of land, share it among yourself. We don't like working together.

[C]

Plot. How many people like two people. Right.

[B]

Even four people can acquire it. I can design an architect, a beautiful architecture on one plot for four different people.

[C]

All right, let's look at it. A plot of land, you divide it into four. Yes. Right. And share it among four people. So that plot that you're saying young people can go for.

[B]

Yeah.

[C]

They can, you know, come together.

[B]

Yeah.

[C]

How much are you then going to sell? And says, if you have a land

[B]

in a brewery that I'm selling.

[C]

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[A]

Thank you.

[C]

Now, let's get back to the conversation.

[B]

I have a land in the brewery that I'm selling which is about 10 minutes from the breed town. That's how I Was gonna go there. Yeah, that I'm selling a hundred thousand cities. Okay, that's 25, 000 cities each per person.

[C]

Right.

[B]

And what you can build, Boss, look at this. You build a duplex. Two duplex. Yeah. One person is at a down, the other place at the down. Two duplex, that's four people in one. But people have high appetite. They want to live in grand architecture, but they don't have the resources. That place, it can take you an hour to the capital city. But when the infrastructure is great, it takes you lesser. That is why I put premium on building the transportation system, which you have railways, which are different means of transportation. So that is what we are doing.

[C]

Somebody said, yeah, he says that a lot of real estate developers in Ghana are earning about 70% on their development after sales.

[B]

Well, if that is it, we don't. We don't end that. But I think that's quite high. Yeah, but so you can subsidize. I think you can subsidize a bit for the market. Derek, how much are you selling your unit at cruise. Cruise homes? How much are you selling your unit? The one you're building?

[C]

So we have some of the units

[B]

we are selling at.

[C]

I think it's about 96, 97.

[B]

96, 97 what?

[C]

Thousand dollars?

[B]

Yeah, you know, that's like a million Ghana cities.

[C]

Yep.

[B]

So you see, because that's in East Lagoon. So that's exactly what I was saying.

[C]

15 minutes away from the airport.

[B]

Exactly. So you have to go to the outskirts and create a stunning real estate infrastructure for people. I believe that everybody within a certain income earning bracket is supposed to have a certain level of comfort when it comes to owning properties. All right, so we should create that. Options. Options. Options. Okay. If you go to advanced countries, I mean those who are very wealthy, they live in a certain neighborhood and with the greatest of respect, everybody has a certain economic strength. Yeah, you must play to your strength. So today, like I said, hundred thousand cities. If you spend hundred thousand, four of you acquire a plot of land, you build progressively, you have your own. When God blesses you, then you can move towards this high rise and all the things. But I cannot buy your $90,000. I still love my 400,000. All right, cool.

[C]

So there's another thing, right? The person who wants to start their own real estate company just as you have beautifully, should young people consider real estate as a way of, you know, building wealth for themselves? And I'm not talking investment, I'm talking about start setting up your own companies either it's letting agenc.

[B]

The value chain is quite big.

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