Me personally I don’t see why people are making a big deal about Ghana leasing land for 50 and 99 years. Even in the United snakes 🐍 if I buy a lot of land for $50,000 I will have to pay property taxes on the land every single year that I own it. If I miss one ☝️ payment of those taxes the state will auction off the property for pennies on the dollar. This is a set up in America where absolutely no one can on land but the state and government. So 50 and 99 year leases are actually way better than how the US and UK do land business. Also another thing I like about Ghana is the concept of the land belonging to the Chiefs, clans and government. This to me is way more balanced than just the government having absolute control of all land. It also stops a monopoly of land as well
Even presently, the land owners are trying different kind of tricks to get more money from you.They sell a piece of land to multiple buyers. At the of this so called lease, anything can happen.
I know someone going through the renewal process atp-- Interesting to see how it unfolds. The land was leased by statehousing from the chiefs for 60 years - and they leased out to clients with 40 years left in the indenture. So 40 years is around the corner for the clients
I hope a lot of people watch this. The guy knows what he is talking about. In the west, we pay property taxes and if you don’t pay that, the government will come for the house. It’s no different. As a matter of fact, it’s more costly in the West to own the land.
Very true. The only thing is that it's not clear if land owners will want more money after the initial lease period but I guess with time, that bit will be clearer.
In my humble opinion I think that once you buy your land it should be yours clear and free from any taxes.In the west or in Africa, People should be able to live out their lives without worrying about losing their property.The government should leave us alone so that we can grow old and enjoy our grandchildren and great grandchildren and so on.Because taxes anyones' land is a scam in my opinion.
Talk the truth and stop twisting your lies There’s freehold property in the uk 🇬🇧 and USA 🇺🇸 which means it’s yours for ever but Ghana does not have this freehold title anymore, renewing your land in Ghana is only done if the owner agrees which by Ghana law he can stop the extension of the lease once it ends . So stop trying to compare uk 🇬🇧 freehold to Ghana lease land with a renewing clause which ends .you are also part of the problem in Ghana you don’t talk the full truth. I would never buy land in Ghana 🇬🇭 Ghana constitution does not allow freehold so don’t to this guy because he is trying to make people think they can have freehold
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Mickey you are my favorite Ghanaian youtuber l hope your channel grows
Thanks very much bro. It will grow, as long as I don't quit and keep giving value. I trust the process.
Very insightful and educative...... Hope we get lots of such videos. Keep it up.
🙏🏾🙏🏾🙏🏾
Me personally I don’t see why people are making a big deal about Ghana leasing land for 50 and 99 years. Even in the United snakes 🐍 if I buy a lot of land for $50,000 I will have to pay property taxes on the land every single year that I own it. If I miss one ☝️ payment of those taxes the state will auction off the property for pennies on the dollar. This is a set up in America where absolutely no one can on land but the state and government. So 50 and 99 year leases are actually way better than how the US and UK do land business. Also another thing I like about Ghana is the concept of the land belonging to the Chiefs, clans and government. This to me is way more balanced than just the government having absolute control of all land. It also stops a monopoly of land as well
You are correct
Even on the USA.I hear that a lot.People always comparing Ghana with USA.
Great content Mickey very much appreciated
🙏🏾🙏🏾🙏🏾
Even presently, the land owners are trying different kind of tricks to get more money from you.They sell a piece of land to multiple buyers. At the of this so called lease, anything can happen.
I know someone going through the renewal process atp-- Interesting to see how it unfolds.
The land was leased by statehousing from the chiefs for 60 years - and they leased out to clients with 40 years left in the indenture. So 40 years is around the corner for the clients
Wow so short. I would love to know how it goes. Please keep me informed if you can. Thank you.
@@MickeyAgyei Will do
this is good education , now things have changed with years
Yeah
I hope a lot of people watch this. The guy knows what he is talking about.
In the west, we pay property taxes and if you don’t pay that, the government will come for the house.
It’s no different. As a matter of fact, it’s more costly in the West to own the land.
Very true. The only thing is that it's not clear if land owners will want more money after the initial lease period but I guess with time, that bit will be clearer.
In my humble opinion I think that once you buy your land it should be yours clear and free from any taxes.In the west or in Africa, People should be able to live out their lives without worrying about losing their property.The government should leave us alone so that we can grow old and enjoy our grandchildren and great grandchildren and so on.Because taxes anyones' land is a scam in my opinion.
@@skywilliams323That sounds great but that is not the reality on the ground.
But we can all wish and hope.
Mickey,
Yes, time will tell.
Ground rent isn't a lot but I get what you mean.
Thanks for sharing what is ground rent
When you register your land, you will be told to pay yearly land tax or rent to the municipal. Its not a lot of money.
Talk the truth and stop twisting your lies There’s freehold property in the uk 🇬🇧 and USA 🇺🇸 which means it’s yours for ever but Ghana does not have this freehold title anymore, renewing your land in Ghana is only done if the owner agrees which by Ghana law he can stop the extension of the lease once it ends . So stop trying to compare uk 🇬🇧 freehold to Ghana lease land with a renewing clause which ends .you are also part of the problem in Ghana you don’t talk the full truth. I would never buy land in Ghana 🇬🇭 Ghana constitution does not allow freehold so don’t to this guy because he is trying to make people think they can have freehold
There’s no real investment in this nonsense lease