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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.businessdaily.../-/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
Not talking
StatMeister wrote:
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.


Not talking Not talking Not talking Not talking
..."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
StatMeister wrote:
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.


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
bwenyenye wrote:
StatMeister wrote:
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.


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?


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.businessdaily...4/-/12wwvs5/-/index.html
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Gordon Gekko
#6 Posted : Tuesday, August 16, 2011 3:06:44 PM
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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
bwenyenye wrote:
StatMeister wrote:
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.


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?


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
StatMeister wrote:
bwenyenye wrote:
StatMeister wrote:
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.


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?


Also factor how much it will cost to upgrade your apartment (if possible) to match emerging styles and trends in housing.


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
bwenyenye wrote:
StatMeister wrote:
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.


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?


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
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Joined: 5/27/2008
Posts: 3,760
@Mblue, problem is not the construction cost but the cost of the land!!
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Barrywhite
#11 Posted : Tuesday, August 16, 2011 4:03:09 PM
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Joined: 12/2/2009
Posts: 286
Location: Nairobi
@Mblue: a million times over
The laudable is more often than not rendered laughable by overclaim
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jamplu
#12 Posted : Tuesday, August 16, 2011 4:05:17 PM
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Joined: 3/25/2010
Posts: 939
Location: Nai
Gordon Gekko wrote:
@Mblue, problem is not the construction cost but the cost of the land!!


you don't have to live very near nairobi.
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eco
#13 Posted : Tuesday, August 16, 2011 7:35:37 PM
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Joined: 6/17/2011
Posts: 229
jamplu wrote:


you don't have to live very near nairobi.


especially now that roads will be better.
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For Sport
#14 Posted : Tuesday, August 16, 2011 8:18:07 PM
Rank: Veteran


Joined: 12/23/2010
Posts: 1,229
eco wrote:
jamplu wrote:


you don't have to live very near nairobi.


especially now that roads will be better.


and fuel so much cheaper
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kiterunner
#15 Posted : Tuesday, August 16, 2011 8:46:55 PM
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Joined: 7/9/2011
Posts: 730
Location: Nairobi
in another 20 years the flats will be the 'projects'
our goals are best achieved indirectly
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lovely2010
#16 Posted : Tuesday, August 16, 2011 9:40:40 PM
Rank: Member


Joined: 10/25/2010
Posts: 519
Location: nairobi
For Sport wrote:
eco wrote:
jamplu wrote:


you don't have to live very near nairobi.


especially now that roads will be better.


and fuel so much cheaper


and city trains on the way...smile smile smile
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StatMeister
#17 Posted : Wednesday, August 17, 2011 7:33:54 AM
Rank: Veteran


Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
kiterunner wrote:
in another 20 years the flats will be the 'projects'


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

Not in KE, kikuyus would rent out their houses in Buru and hama into the projects
A bad day fishing is better than a good day at work
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jamplu
#18 Posted : Wednesday, August 17, 2011 8:15:12 AM
Rank: Veteran


Joined: 3/25/2010
Posts: 939
Location: Nai
StatMeister wrote:
kiterunner wrote:
in another 20 years the flats will be the 'projects'


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

Not in KE, kikuyus would rent out their houses in Buru and hama into the projects


Applause Applause Applause Applause Applause
but there will be problem. some of these
so called apartment are poorly built and will be so risky to live in.

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For Sport
#19 Posted : Wednesday, August 17, 2011 10:40:07 AM
Rank: Veteran


Joined: 12/23/2010
Posts: 1,229
Gordon Gekko wrote:
Portfolio diversification, lets buy apartments in Sandton!!


Opportunities coming up sooner than you think.

A US real estate firm is opening shop here to market foreclosed properties which is selling cheaper than some local properties.

I wonder whether their visa rules will be relaxed for "foreign" investors (sisi)..

US Real Estate Firm Sets Sights on Kenyans
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jamplu
#20 Posted : Wednesday, August 17, 2011 10:51:18 AM
Rank: Veteran


Joined: 3/25/2010
Posts: 939
Location: Nai
For Sport wrote:
Gordon Gekko wrote:
Portfolio diversification, lets buy apartments in Sandton!!


Opportunities coming up sooner than you think.

A US real estate firm is opening shop here to market foreclosed properties which is selling cheaper than some local properties.

I wonder whether their visa rules will be relaxed for "foreign" investors (sisi)..

US Real Estate Firm Sets Sights on Kenyans



we'll wait for them. i hope equity will fund me to buy one in florida ama texas Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

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