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jamplu		#1 Posted : Tuesday, August 16, 2011 1:59:52 PM
Rank: Veteran Joined: 3/25/2010 Posts: 939 Location: Nai		http://www.businessdailyafrica.com/Real+estate+in+Kenya+among+most+costly+++/-/539444/1215046/-/item/0/-/s4k72bz/-/index.html How are we going to sustain these prices and for how long? Seriously its cheaper to buy an apartment in madrid than nairobi???
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StatMeister		#2 Posted : Tuesday, August 16, 2011 2:11:59 PM
Rank: Veteran Joined: 5/23/2010 Posts: 868 Location: La Islas Galápagos		If you wanted to live in (say) a Kile apartment, you can buy it for 10m (take a 15-year mortgage @ 11% paying 113k) or you can just rent it for half the cost. We all know how these apartments will look like in another 15 years. A bad day fishing is better than a good day at work
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McReggae		#3 Posted : Tuesday, August 16, 2011 2:25:59 PM
Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi		[-( [quote=StatMeister]If you wanted to live in (say) a Kile apartment, you can buy it for 10m (take a 15-year mortgage @ 11% paying 113k) or you can just rent it for half the cost. We all know how these apartments will look like in another 15 years.[/quote] [-( [-( [-( [-( ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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bwenyenye		#4 Posted : Tuesday, August 16, 2011 2:40:02 PM
Rank: Elder Joined: 5/24/2007 Posts: 1,805		[quote=StatMeister]If you wanted to live in (say) a Kile apartment, you can buy it for 10m (take a 15-year mortgage @ 11% paying 113k) or you can just rent it for half the cost. We all know how these apartments will look like in another 15 years.[/quote] Have you factored how much they will cost in 15 years despite their looks? Do you know how much you will have paid in rent for 15 years? half the mortgage... so who is fooling who? I Think Therefore I Am
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jamplu		#5 Posted : Tuesday, August 16, 2011 3:04:01 PM
Rank: Veteran Joined: 3/25/2010 Posts: 939 Location: Nai		[quote=bwenyenye][quote=StatMeister]If you wanted to live in (say) a Kile apartment, you can buy it for 10m (take a 15-year mortgage @ 11% paying 113k) or you can just rent it for half the cost. We all know how these apartments will look like in another 15 years.[/quote] Have you factored how much they will cost in 15 years despite their looks? Do you know how much you will have paid in rent for 15 years? half the mortgage... so who is fooling who?[/quote] bwenyeye most likely no one will want to look at them let alone buy. If you have 1 unit surrounded by 5 others in a bad state how will you convince someone to buy remember you not owning the whole land just a ka-unit up in the sky!!! and FYI prices are starting to go down http://www.businessdailyafrica.com/Home+buyers+shun+high+end+apartments+/-/539444/1215084/-/12wwvs5/-/index.html
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Gordon Gekko		#6 Posted : Tuesday, August 16, 2011 3:06:44 PM
Rank: Elder Joined: 5/27/2008 Posts: 3,760		Portfolio diversification, lets buy apartments in Sandton!!
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StatMeister		#7 Posted : Tuesday, August 16, 2011 3:13:47 PM
Rank: Veteran Joined: 5/23/2010 Posts: 868 Location: La Islas Galápagos		[quote=bwenyenye][quote=StatMeister]If you wanted to live in (say) a Kile apartment, you can buy it for 10m (take a 15-year mortgage @ 11% paying 113k) or you can just rent it for half the cost. We all know how these apartments will look like in another 15 years.[/quote] Have you factored how much they will cost in 15 years despite their looks? Do you know how much you will have paid in rent for 15 years? half the mortgage... so who is fooling who?[/quote] Also factor how much it will cost to upgrade your apartment (if possible) to match emerging styles and trends in housing. A bad day fishing is better than a good day at work
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selah		#8 Posted : Tuesday, August 16, 2011 3:29:18 PM
Rank: Elder Joined: 10/13/2009 Posts: 1,950 Location: in kenya		[quote=StatMeister][quote=bwenyenye][quote=StatMeister]If you wanted to live in (say) a Kile apartment, you can buy it for 10m (take a 15-year mortgage @ 11% paying 113k) or you can just rent it for half the cost. We all know how these apartments will look like in another 15 years.[/quote] Have you factored how much they will cost in 15 years despite their looks? Do you know how much you will have paid in rent for 15 years? half the mortgage... so who is fooling who?[/quote] Also factor how much it will cost to upgrade your apartment (if possible) to match emerging styles and trends in housing. [/quote] Making it Green compliant I presume. '......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Mblue		#9 Posted : Tuesday, August 16, 2011 3:30:32 PM
Rank: Member Joined: 8/3/2011 Posts: 197		[quote=bwenyenye][quote=StatMeister]If you wanted to live in (say) a Kile apartment, you can buy it for 10m (take a 15-year mortgage @ 11% paying 113k) or you can just rent it for half the cost. We all know how these apartments will look like in another 15 years.[/quote] Have you factored how much they will cost in 15 years despite their looks? Do you know how much you will have paid in rent for 15 years? half the mortgage... so who is fooling who?[/quote] With Kenya now expected to grow in every direction, there is no point of paying exorbitant prices. I would rather buy a plot and construct a house... "..one is only poor only if they choose to be.."-Dolly Partron
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Gordon Gekko		#10 Posted : Tuesday, August 16, 2011 3:57:59 PM
Rank: Elder Joined: 5/27/2008 Posts: 3,760		@Mblue, problem is not the construction cost but the cost of the land!!
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