A common mistake black Africans make is to compare real estate in Africa with Dubai , Europe and US.
Over there the market is regulated, there is an organised mortgage regime, govt is building housing estates on owner occupier basis, so an average worker has a mortgage scheme he or she pays over 20 to 40 years deducted at source from salary / income.
Look at Kenya /Uganda and west Africa. There is a big gap between supply an demand. An everage black African youth want to move to the Cities which is already over populsted to seek better life and look for greener pastures. The infrastructures are not there in the rural areas. Conversely go to London suburb all facilities in the city are there ! Unfortunately govts are doing nothing to address this situation.
Get a genuine land or developed plot in Nairobi suburb, the direction the property price move is only UPWARDS. It is only on the high end areas in the city that property prices can stagnate but will not drop sharply as the advanced world. Those ones are very expensive as they are fully priced.
My US based elder sister in 2009 wanted to buy a 2 Bedroom bungalow in Lagos(Nigeria) suburb. The introductory offer in my local currency (naira) was 4.2 Million spread over 24 months. She complained that it is too expensive that worldwide (Advanced world) property prices are dropping. In early 2010 on enquiry the property price was 5.2 Million payable over 12 months. She still procastinated. Just last week on inquiry the property is NOW 6.2 Million payable within 6 months.
There are several numerous ones like that especially on developed properties in emerging suburbS close to major cities in Black Africa.
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .