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where are plot buyers gone to?
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african coloner
#1 Posted : Tuesday, July 10, 2012 1:34:41 PM
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Joined: 10/8/2010
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Location: london
It seems nobody is buying, i have seen few plots on sale for almost a year, i think propert market is cooling but not anywhere near burst.
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itz
#2 Posted : Tuesday, July 10, 2012 2:32:06 PM
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Joined: 3/20/2009
Posts: 348
african coloner wrote:
It seems nobody is buying, i have seen few plots on sale for almost a year, i think propert market is cooling but not anywhere near burst.


i think so too.i would like to hear more from wazua realtors and people in the industry.However i think if cheap/cheaper credit comes back prices will rise again because there is pent-up demand
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a4architect.com
#3 Posted : Tuesday, July 10, 2012 2:59:55 PM
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Joined: 1/4/2010
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Location: nairobi
Lets see if desperate sellers will start reducing sale price.
As Iron Sharpens Iron, So one Man Sharpens Another.
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Robinhood
#4 Posted : Tuesday, July 10, 2012 3:19:31 PM
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Joined: 12/11/2008
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Nkt, just when I am selling mine. Yenyewe market imepoa sana!
Great men are not always wise, neither do the aged understand judgement...
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Jamani
#5 Posted : Tuesday, July 10, 2012 3:22:43 PM
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Joined: 9/12/2006
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Plot buyers have gone to the counties... people are possibly buying "cheap" as they await devolution.
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african coloner
#6 Posted : Wednesday, July 11, 2012 2:03:00 AM
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Location: london
a4architect.com wrote:
Lets see if desperate sellers will start reducing sale price.


some places in runda you can get a plot for 18m, last year everything was above 20m
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TiggerTiggy
#7 Posted : Wednesday, July 11, 2012 6:12:47 AM
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Joined: 10/13/2011
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african coloner wrote:
It seems nobody is buying, i have seen few plots on sale for almost a year, i think propert market is cooling but not anywhere near burst.

have to agree with you. went to view some project in kitengela last week and they have sold only 5 or so plots since march. however the low end segment (plots under 200k mostly found along kangundo road) seems to be more active.
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jamplu
#8 Posted : Wednesday, July 11, 2012 7:42:36 AM
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with the interest rates as high as they have been people this was bound to happen. If foreigners are also complaining the prices of land in kenya are ridiculous and they are not getting value for their money then...
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accelriskconsult
#9 Posted : Wednesday, July 11, 2012 10:25:31 AM
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Joined: 4/2/2011
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Location: Nai
Guys you are right that interest has cooled off and its mainly due to tight liquidity. But my bet if that once the first barrel of oil flows out of Ngamia 1 circa 2016, there will be a huge property boom. Be patient!
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vky
#10 Posted : Wednesday, July 11, 2012 10:46:56 AM
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the VAT bill if passed in its current form will further exacerbate the situation here albeit indirectly
'One headache for famous medieval holy people was that someone might murder you to acquire your body parts for the relics trade'
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lovenuffs
#11 Posted : Wednesday, July 11, 2012 11:10:11 AM
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Joined: 7/9/2012
Posts: 63
smile Let the prices go down, otherwise in a few years time we will a situation like the one we had in UAE.
If a free society cannot help the many who are poor, it cannot save the few who are rich.
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TPK
#12 Posted : Wednesday, July 11, 2012 12:04:23 PM
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Joined: 6/17/2011
Posts: 129
Location: Nairobi
african coloner wrote:
It seems nobody is buying, i have seen few plots on sale for almost a year, i think propert market is cooling but not anywhere near burst.


I am heresmile
As long as you're going to be thinking anyway, think big
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Mukiri
#13 Posted : Wednesday, July 11, 2012 6:10:55 PM
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Joined: 7/11/2012
Posts: 5,222
It's about time I stopped paying rent! Give me a good piece in a good neighborhood and if I can afford, I'll buy. I am a man (I hope sod'oh! )!

Proverbs 19:21
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itz
#14 Posted : Wednesday, July 11, 2012 6:20:28 PM
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Joined: 3/20/2009
Posts: 348
yes the market has slowed but dont open the champagne bottles yet.as i said there is pent up demand and once the interest rates go back down to the level of 11-15% expect prices to rise again.if you have cash this is the best time to try and negotiate a good deal.
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hamburglar
#15 Posted : Wednesday, July 11, 2012 6:38:15 PM
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Joined: 12/17/2011
Posts: 887
itz wrote:
yes the market has slowed but dont open the champagne bottles yet.as i said there is pent up demand and once the interest rates go back down to the level of 11-15% expect prices to rise again.if you have cash this is the best time to try and negotiate a good deal.



I agree with Itz, is sounds like now might be a good time as any to buy land....A friend just negotiated a nice piece of land for much less than what his neighbours paid 2 - 3 years ago. It could have been a stroke of luck on his part but it could also mean that there are not enough buyers hence the "desperation" by the seller to offload it at a discounted price. We shall see what happens when the rates go down further.
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alma
#16 Posted : Wednesday, July 11, 2012 7:18:32 PM
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Joined: 7/20/2007
Posts: 4,432
you haven't seen anything yet. When property prices start falling, read your history all over the world.....bado mapambano.
Jose: If I make it through this thug life, I'll see you one day. The Lord is the only way to stop the hurt.
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youcan'tstopusnow
#17 Posted : Wednesday, July 11, 2012 7:46:02 PM
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Joined: 3/24/2010
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Location: Black Africa
Nairobi rents zinaendelea na kupanda
http://www.businessdaily.../-/4l42tpz/-/index.html
GOD BLESS YOUR LIFE
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jamplu
#18 Posted : Wednesday, July 11, 2012 8:31:03 PM
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Joined: 3/25/2010
Posts: 939
Location: Nai
youcan'tstopusnow wrote:
Nairobi rents zinaendelea na kupanda
http://www.businessdaily.../-/4l42tpz/-/index.html


Rentals seems to be doing ok but in some areas investors are not making nothing they are struggling to repay loans.

We also need to be told what's the proportion of properties being held by investors and have not been sold?

The number of holiday homes and golf resorts is a bit alarming. Who will soak up all these properties if we keep on developing golf cities






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youcan'tstopusnow
#19 Posted : Wednesday, July 11, 2012 8:46:26 PM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
jamplu wrote:
youcan'tstopusnow wrote:
Nairobi rents zinaendelea na kupanda
http://www.businessdaily.../-/4l42tpz/-/index.html


Rentals seems to be doing ok but in some areas investors are not making nothing they are struggling to repay loans.

We also need to be told what's the proportion of properties being held by investors and have not been sold?

The number of holiday homes and golf resorts is a bit alarming. Who will soak up all these properties if we keep on developing golf cities


And do THAT many Kenyans indulge in golf? Ama ni sifa tusmile
GOD BLESS YOUR LIFE
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butterflyke
#20 Posted : Thursday, July 12, 2012 7:30:40 AM
Rank: Elder


Joined: 5/1/2010
Posts: 3,024
Location: Hapa
youcan'tstopusnow wrote:
jamplu wrote:
youcan'tstopusnow wrote:
Nairobi rents zinaendelea na kupanda
http://www.businessdaily.../-/4l42tpz/-/index.html


Rentals seems to be doing ok but in some areas investors are not making nothing they are struggling to repay loans.

We also need to be told what's the proportion of properties being held by investors and have not been sold?

The number of holiday homes and golf resorts is a bit alarming. Who will soak up all these properties if we keep on developing golf cities


And do THAT many Kenyans indulge in golf? Ama ni sifa tusmile


ni sifa tu na sifa haiwezi kuwa hisa
Float like a butterfly, sting like a bee. - Muhammad Ali🐝
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