wazua Sat, Nov 16, 2024
Welcome Guest Search | Active Topics | Log In | Register

Mombasa property market
Options
Previous Topic · Next Topic
brekke
#1 Posted : Tuesday, February 08, 2011 10:40:18 PM
Rank: New-farer


Joined: 7/10/2010
Posts: 23
Location: US
I have saved 5m which i would like to invest in an apartment in Mombasa. Any advice on where my investment will be good value for money in terms of rental income and/or capital gains if am to sell it in 4-7 years time?
Back to top
 Report Abusive | Report SPAM
Seles83
#2 Posted : Wednesday, February 09, 2011 3:04:36 AM
Rank: Member


Joined: 11/9/2007
Posts: 288
Location: OZ
I dont much about MSA properties, i would go for a water front property in well managed estate...

The below link might be helpful..
http://www.skyscrapercit.../forumdisplay.php?f=2637
More monies, more problems...
Back to top
 Report Abusive | Report SPAM
brekke
#3 Posted : Wednesday, February 09, 2011 12:38:50 PM
Rank: New-farer


Joined: 7/10/2010
Posts: 23
Location: US
Water front property....i guess i will then need to cough not less than 10m.. What i plan to buy is a 3-bedroomed of around 3m. Any links?
Back to top
 Report Abusive | Report SPAM
Seles83
#4 Posted : Wednesday, February 09, 2011 1:09:02 PM
Rank: Member


Joined: 11/9/2007
Posts: 288
Location: OZ
brekke wrote:
Water front property....i guess i will then need to cough not less than 10m.. What i plan to buy is a 3-bedroomed of around 3m. Any links?


Use leverage to your advantage a water front may not be affordable to you in US but for in Kenya yes..

From your initial post you have 5M, thats 50% easy...a water front property will fetch a modest returns of 7% or even higher..basically the tenant will be servicing the loan basically..This is a good example of good debt..

More monies, more problems...
Back to top
 Report Abusive | Report SPAM
brekke
#5 Posted : Wednesday, February 09, 2011 1:54:35 PM
Rank: New-farer


Joined: 7/10/2010
Posts: 23
Location: US
Sorry i meant 5m for a 3 bedroomed, not 3m. Thanks for the advice. Hope other wazerians can also tip me on where in mombasa i can invest the good debt (5m).
Back to top
 Report Abusive | Report SPAM
tony stark
#6 Posted : Wednesday, February 09, 2011 1:57:01 PM
Rank: Veteran


Joined: 7/8/2008
Posts: 947
Where in mombasa are these beach front properties going for 10 million??
Revise your pricing upward with the range of 25million and above. Your current budget might get you a house in shanzu, bamburi etc if your lucky Nyali.
If you want a beach front property look way up north or way down south and you might barely get a beach front property. In kilifi a 3rd row beach front is about 5 million now on bofa road.
Good luck with your search!
Back to top
 Report Abusive | Report SPAM
brekke
#7 Posted : Wednesday, February 09, 2011 2:14:56 PM
Rank: New-farer


Joined: 7/10/2010
Posts: 23
Location: US
@Tony Stark
Actually am not particularly interested in a beach property but it is Seles83 who meant i could get one if i took a loan... What am out for is a decent house in a decent place worth 5m, and hopefully avoid taking a loan to top up....
Back to top
 Report Abusive | Report SPAM | Edit by user: Wednesday, February 09, 2011 3:11 PM | Reason: Not specified
Signature
#8 Posted : Wednesday, February 09, 2011 4:15:41 PM
Rank: Member


Joined: 4/16/2010
Posts: 217
Location: Nairobi
@brekke ,follow the link ,everything coast properties
http://www.coastweek.com...assifides/properties.htm
properties For Sale By Owner
Back to top
 Report Abusive | Report SPAM
brekke
#9 Posted : Wednesday, February 09, 2011 5:09:11 PM
Rank: New-farer


Joined: 7/10/2010
Posts: 23
Location: US
@Signature. Thanks for the link.

Whom would you term as a reputable real estate agent at the coast?
Back to top
 Report Abusive | Report SPAM
Users browsing this topic
Guest (2)
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2024 Wazua.co.ke. All Rights Reserved.