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What Is your Best Property Investment So far ?
Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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I ventured into real estate in 2009 after the world economic melt down to balance my portfolio on stocks:- My approach has been to buy serviced or semi serviced plot in an up coming estate with a very high probability of infrastructural facilities in that vicinity. I also choosed the ones with flexible payment plans (12 - 36 months). I discovered that if you have a good expertise or a reliable /trustworthy builder it is cheaper to buy land then take time to build the houses. This is often due to the fact that buying an established house and land is quite expensive. My star plots are as follows :- (i) In Nigeria I bought two plots (installmental payment) for 900K naira for both (about 450K Ksh) early 2010, now each cost 850K naira (425K Ksh each). Property marketed by Olive Networks Nigeria. www.oliveestate.com(ii) In Ghana I bough two plots (again installmentally) at USD7,000 each that is USD (14,000 for both) but now each cost USD25,000. I started paying for the plots in Feb 2009 and completed payment in Feb 2010 but this is the going price in Dec 2010 !!! Property located in East Legon Extension, Accra Ghana. Property marketed by redrow developments, Ghana www.redrowghana.comBest Regards 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. .
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Rank: Elder Joined: 6/23/2009 Posts: 13,497 Location: nairobi
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Bought 1/4 acre Kitengela land for KES 600,000 in January. Current market value is now KES 1,300,000. Pure luck. I sincerely expected such a gain in no less than two years. Especially since the piece is four kilometres from the main road!
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 8/10/2010 Posts: 2,264
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the whole area along mombasa road, from syokimau mlolongo, and namanga road from athiriver to isenya is where the action is.
in feb this year in kitengela, i approached a man who was selling his 1/8 acre plot for 1000000 KSH.
by the time our transaction was complete, i had advertised the same plot in the newspapers for about two weeks for 1600000 KSH. before the ink on my new title deed was dry i had sold the plot for 1.5m
i have made much more doing this. but the gains are too high to be displayed, even in wazua.
this shows that a small investor can make it. you just need a sharp eye and GOD(not luck) on your side.Politics is just things to keep the people divided and foolish and put your trust in men and none of them can do nothing for you...
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Ladies and gentlemen I forgot to mention another star buy in Tema Accra in the neighbouring Ghana. I bought into a planned city located outside the Ghananian port city of Tema on AKosombo road, Tema, Accra. It is a new settlement, a fully serviced plot with a plan for all known amenities. I keyed into it in March 2008 at an asking flexible payment price of USD10,000 for 1/4 acre plot. I completed payment in November 2009. Ask me of the going price now, USD 60,000 still with flexible payment plan. People are ready to pay USD40,000 cash down !!! www.falconcrestghana.comIn real estate terms, our neighbouring west african country Ghana is very peculiar. Buy in USD===>Build in Ghana Cedis===> Rent or sale in USD . A favourable chain for real estate investor but a real disadvantage to the consumers (tenants etc). 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. .
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Teamed up with some friends to buy 1/8 acre at kitengela Life is short. Live passionately.
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Rank: Member Joined: 7/6/2010 Posts: 170 Location: Kenya Tukufu
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It's really difficult to wrong with land..bought 1/4 acre in Thika last yr @ 1.04 and its now going for a min of 1.6 m....Same in Isinya 1/2 at 200k early last year and word around is that is almost doubled now Hardwork, Smartness & Humility = Successful and Happy life...Jipange sasa hivi
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Rank: Member Joined: 3/17/2008 Posts: 567 Location: Nairobi
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@Young
Ay experience in Uganda?
I am informed people are making good returns in the Bugolobi area.
Have friends who rushed to Lamu and have made quite some returns in the last 12 months.
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Greetings to you @Bwana PabioMy experience in Uganda Real Estate is little because of the distance from Nigeria. Where I have vast and enormous experience is in my neighbouring Ghana. Nonetheles I visited Kampala a year ago and I bought a plot of land in Kakungulu Satelite City developed by Akright Projects Ltd one of the leading real estate companies in Uganda. The asking price then was 12 Million UGX (1 KSH=27 UGX). Recently a colleague of mine wanted to buy but he was told they have sold off but that they can arrange a re-sale from somebody that bought earlier at 16 Million UGX. Be aware the plot I bought is not for investment but for residential purpose (future vacation home) . Another equally real estate developers in Uganda is Jomayi Properties www.jomayi.co.ug. Bugojobi you mentioned is a high brow area in Kampala which can be equated to Karen of Nairobi. But I believe any location on or off Entebbe road vicinity is a good investment. One of the high brow areas on Entebbe road is Lubowa. Best Regards 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. .
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Rank: Member Joined: 3/17/2008 Posts: 567 Location: Nairobi
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Thanks Young.
I admire your pan african knowledge. Most of us just know kenya.
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Rank: New-farer Joined: 12/30/2010 Posts: 41 Location: Africa
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I have worked in Ghana. I thought there was a big problem with land there. You have to pay and constantly bribe the chiefs there as land is mostly owned by the chiefs. East Legon is good. Best buys last year was. 6 shares of Embakassi Ranch at 108,000 for a quarter. Current valuation is 1.2 million each. Lamu at Hindi town for 450,000 ( by the road) now at 650,000 in just two months. Narok at 120,000 now at 180,000. Narok will be one of the richest counties. Kigali, Narutarama is a good buy 3 acres for ksh 4,000,000 now doubled. Kigali is good but construction is expensive.
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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@Pezza, It is pointless in a foreign land to buy property directly from locals, as you do not know the terrain. The land from the local chiefs in Ghana is popularly called stool land. They are relatively cheap but it is not worth the risk. In ghana if you are interested in real estate buy from reputable real estate companies that are members of GREDA (Ghana Real Estate Development Associations)., A handful of a few includes :- RedRow Developments :- www.redrowghana.comDevtraco Ltd :- www.devtraco.com.ghFalcon Crest Ghana :- www.falconcrestghana.comBest Regards 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. .
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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pessa wrote:I have worked in Ghana. I thought there was a big problem with land there. You have to pay and constantly bribe the chiefs there as land is mostly owned by the chiefs. East Legon is good. Best buys last year was. 6 shares of Embakassi Ranch at 108,000 for a quarter. Current valuation is 1.2 million each. Lamu at Hindi town for 450,000 ( by the road) now at 650,000 in just two months. Narok at 120,000 now at 180,000. Narok will be one of the richest counties. Kigali, Narutarama is a good buy 3 acres for ksh 4,000,000 now doubled. Kigali is good but construction is expensive. @Bwana Pesa, What was size of plot in Hindi? One acre? How are prizes in other parts of Lamu mainland? How is the proposed Lamu port moving on? Which are good areas to get commercial land in Lamu?
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Pablo wrote:@Young
Ay experience in Uganda?
I am informed people are making good returns in the Bugolobi area.
Have friends who rushed to Lamu and have made quite some returns in the last 12 months. @Pablo Which parts of Lamu are attractive now?
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Rank: Member Joined: 7/7/2009 Posts: 111
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Is anyone selling a 1/4 plot anywhere on Thika Road before Ruiru? Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it...
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Rank: New-farer Joined: 12/30/2010 Posts: 65 Location: Europe
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@Young...am relatively new in the forum & i hv gone thru your very interesting posts. I also took a novice dive into real estate last yr getting some property nt only in my home country Kenya (outside Nairobi!!!) bt in Ghana as well. I invested in 4plots in Dawhwenya near Tema @16kUSD.Apart from the 3 GREDA accredited firms u listed (falconcrest etc), do you know any other credible ones with installment schemes?. The Greda site has a very long list.
Having burnt my fingers with equity funds, i was kind of reluctant towards stock. Which funds/stocks would you recommend in Ghana?? and what hv been your returns so far?
I think Ghana has enormous potential & only the years will tell. Do you think this Dodowa capital city thing will be realised?
Can we email?
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Rank: Member Joined: 8/5/2009 Posts: 597
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This is the investor spirit good to share. 1/4 in nkoroi Rongai for 500k after one and half year 1.5M. I say one would never go wrong in buying land. The problem with the world is that the intelligent people are full of doubts while the stupid ones are full of confidence
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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@Rapudox The wazua spirit as members are to educate and inform and learn from each other within the limit of what we know in any chosen area irrespective of our differences intribes, nationalities, religion. I keyed in to that vision since 2007 and I have been informing and learning from others here. It is our duty not a favor. Wazua itself is a tribe which to me means a family of various people. Let me acknowledge that you have a fair knowledge of Accra Ghana Terrain. As you rightly know expansion outside accra city and invariably estate development are in this vicinities all in greater Accra Region like :- TEMA Axis Akosombo road axis like Afienya, Shai Hills Aflao Road area like Dahwenya, Pram Pram EAST LEGON Axis :- East Legon Extension like Santoe areas DODOWA AXIS :- Adenta, Oyibi, Madina, Dodowa town ABURI AXIS :- Aburi and sorrounding mountains vicinity, attractive to foreigners because of typical cool temperatures, the coldest place in Ghana Dodowa as the future capital of Ghana rather than Accra is just a long term plan as Ghana at the moment do not have the financial muscle to finance that bearing in mind other pressing developmental needs. But people are already positioning by buying plots in anticipation of this in the nearest future as this will make property prices to explode. I have bought 2 plots in Oyibi town which is a direct neighbourhood of Dodowa. This is a property thread so I will not talk much about stocks. Take a look at Ghana based Fund manager /Stockbroker www.databankgroup.comTake a look at the following products :- Epack, Mfund, Bfund, the facts and figures of the performance are there for you to see. Ghana bourse is a small one that is not very liquid at the moment, but I invest in GCB (Ghana Commercial bank), GGL (Guiness Ghana Limited), FAN (Fan Milk Limited), and UNIL (Unilever Ghana). The returns have been very splendid for a long term investor like me. You can check my Email contact in my profile. Lest I forget most Ghana real estate firms operate the same way in terms of instalmental payment. Of recent 40% down payment, and balance of 60% spread over 12 to 24 months. The terms were more flexible a few years back. I mentioned the 3 property agents since I do business with them, but I believe other GREDA members are equally good. Please permit me to mention this Govt owned dynamic estate firm that has been in existence close to 50 years now. I am referring to TDC Tema Development Corporation. Their prices are a little bit on the expensive side , but if you do business with them you can go to sleep, as your investment is doubly assured. They only have plots and houses in Tema area. Recall Tema is where the biggest port /harbour in Ghana situates (about 25 minutes drive from Accra). It is what Mombossa is to Kenya, but it has the added advantage of being of close proximity to the capital Accra. Tema Development Corporation (TDC) www.tdctema.orgBest Regards 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. .
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Rank: Member Joined: 6/25/2010 Posts: 176
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pessa wrote:I have worked in Ghana. I thought there was a big problem with land there. You have to pay and constantly bribe the chiefs there as land is mostly owned by the chiefs. East Legon is good. Best buys last year was. 6 shares of Embakassi Ranch at 108,000 for a quarter. Current valuation is 1.2 million each. Lamu at Hindi town for 450,000 ( by the road) now at 650,000 in just two months. Narok at 120,000 now at 180,000. Narok will be one of the richest counties. Kigali, Narutarama is a good buy 3 acres for ksh 4,000,000 now doubled. Kigali is good but construction is expensive. @Pessa.Is the land around Hindi still available.if so @ how much and who do i get in touch with about it. if you have the details please email me on davidkamau21@gmail.comRule No.1 is never lose money. Rule No.2 is never forget rule number one
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Rank: New-farer Joined: 12/30/2010 Posts: 65 Location: Europe
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@Young...ths for the quick elaborate response. I like the wazuan spirit!!  I will check out those leads esp. Databank. I absolutely fell in love with Tema but found TDC very expensive, so i opted for Dahwenya which i paid cash.Amazingly, 100*80 TDC was going for max. 14kUSD 2-3yrs, now they are all over 20kUSD. I think those installment schemes are superb for salaried & i will definitely use them to expand my investements especially around Afienya(saving for at least 2plots),Dawhenya (saving for 4 more plots) and maybe Prampram. ABuri is marvelous...what are the actual rates of a plot there at the moment?
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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@Rapudox The going rate of Aburi plots are circa USD 8,600 with the payment plan of 40% down payment and balance spread over 12 months. Be aware that Aburi plots are always bigger than Ghanastandard plots. It is ussually 100 ft X 100 Ft minimum (as they are typically meant for holiday home / Villas because of the attractive all year round good weather). Check out Redrow Developments marketers of Palm Valley, Aburi Mountains, Accra, Ghana http://www.redrowghana.c...p;id=102&Itemid=222
I do not hold any plot in Aburi, my Ghana plot portfolio consists of :- ONE Plot SuNCITY Shai Hills (Akosombo road near Tema) TWO Plots East Legon Extension TWO Plots Redrow Gaarden Oyibi near Dodowa ONE Plot Redrow Courts, Afienya near Tema ONE Plot Comm 25 Tema, Aflao road before Dahwenya (Devtraco Courts). I do not have immediate plans to buy any other plot in Ghana as I believe what I have is enough. 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. .
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