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Nyayo Embakasi NSSF Houses
Injere
#1 Posted : Saturday, October 23, 2010 7:40:24 PM
Rank: Member


Joined: 4/7/2010
Posts: 130
I am looking for 3bed apartment on NSSF scheme.

Anyone with possible leads? What kind of pricing are we looking at?
peep
#2 Posted : Saturday, October 23, 2010 9:56:32 PM
Rank: Member


Joined: 3/30/2009
Posts: 56
I assume to buy. Next lot of houses should be ready by June 2011. Most of them have been booked. Booking is done by paying sh 1,000 for a form, filling it and submitting it with a deposit of at least 10% of the purchase price. Naturally those with higher deposits stand a better chance of getting allocated.
Should you wish for more details call in at the TPS office 4th floor Social Security House Block A.
If you want to rent just take a walk to the estate management office. They usually have details of purchasers who wish to rent. NSSF doesn't rent out itself, but just sells.
Injere
#3 Posted : Sunday, October 24, 2010 8:13:47 AM
Rank: Member


Joined: 4/7/2010
Posts: 130
Yeah...i am on the buy side. Thanks. I will give a call to NSSF. In the meantime, are there any sellers here on Wazua?

For those who might know the details, what kind of gross yield are we looking at here? >8%??
luttz
#4 Posted : Sunday, October 24, 2010 4:46:05 PM
Rank: Member


Joined: 3/18/2008
Posts: 377
You can also try NHC Langata, good prices and location. Very impartial
"You've never lived until you've almost died; for those who have fought for it, life has a flavour the protected will never know."
innovator
#5 Posted : Sunday, October 24, 2010 5:54:35 PM
Rank: Member


Joined: 7/24/2010
Posts: 236
Location: nairobi
@luttz where in langata any contact offices?
My 2 cents
#6 Posted : Monday, October 25, 2010 10:11:58 AM
Rank: Veteran


Joined: 6/2/2010
Posts: 1,066
These houses sell for about 4.8M and rent out at about 20K per month. The yield is therefore a very low 5%.
luttz
#7 Posted : Monday, October 25, 2010 12:01:58 PM
Rank: Member


Joined: 3/18/2008
Posts: 377
NHC is National Housing corporation, check their website, its populated with details of the various on goong and completed projects.
"You've never lived until you've almost died; for those who have fought for it, life has a flavour the protected will never know."
Ric dees
#8 Posted : Monday, October 25, 2010 12:33:03 PM
Rank: Member


Joined: 3/6/2008
Posts: 632
@Innovator, go to NHC offices behind Co-op bank headquarters 7th floor, the usual 10% deposit and 200kshs for the application form, houses between 4.5m & 4.9m. As of last year Dec they were not taking any new applications and September this year the allocations were done for phase iv, so i don't think there are any left unsold however they could be building a new phase try your luck.

The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday's logic.
Injere
#9 Posted : Monday, October 25, 2010 1:44:55 PM
Rank: Member


Joined: 4/7/2010
Posts: 130
well, 5% is quite measly to be honest. Even if you factor in appreciation in value, it doesn't look that much either. For those who have invested with NHC already in these apartments, what's the punch line here?
For Sport
#10 Posted : Thursday, April 07, 2011 7:48:17 PM
Rank: Veteran


Joined: 12/23/2010
Posts: 1,229
For Information:
The next phase is on sale. Today's standard, Home & away page 10. 3 b/r flat now at 6.1m
peep
#11 Posted : Friday, April 08, 2011 8:48:44 AM
Rank: Member


Joined: 3/30/2009
Posts: 56
http://www.nssf.or.ke/downloads/docs/NSSF27x4.pdf

Houses are superb. When the bypass are complete, it will will be a highway to heaven
Kirika
#12 Posted : Friday, April 08, 2011 11:07:46 AM
Rank: Member


Joined: 1/26/2011
Posts: 211
Location: Nairobi

The estate is simply well managed and maintained. However the selling price of Ksh 6.1M makes it very un-attractive for those buying to rent.

The rent is Ksh 22,000 p.m which makes it have a payback perid of 23 Years and an annual return of 4%.

Clearly, NSSF have outsold the houses. I think they are attractive for tenants only not for rental income.
For Sport
#13 Posted : Friday, April 08, 2011 11:10:35 AM
Rank: Veteran


Joined: 12/23/2010
Posts: 1,229
Kirika wrote:

The estate is simply well managed and maintained. However the selling price of Ksh 6.1M makes it very un-attractive for those buying to rent.

The rent is Ksh 22,000 p.m which makes it have a payback perid of 23 Years and an annual return of 4%.

Clearly, NSSF have outsold the houses. I think they are attractive for tenants only not for rental income.


What is the fair value of the units?

They were going for about 5.2 in the last phase.
About the rent, I think its likely to go up when that road is completed.
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