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L'e Mac - The First Residential Skycrapper in Kenya..
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lovenuffs
#51 Posted : Tuesday, September 25, 2012 11:04:21 AM
Rank: New-farer

Joined: 7/9/2012
Posts: 63
Jamani wrote:
Prices are almost close to those of the prestigious Burj Khalifa.



Shame on you Shame on you Shame on you Burj the cost is KES.110m


http://www.burjkhalifaapartments.info/
If a free society cannot help the many who are poor, it cannot save the few who are rich.
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Lolest!
#52 Posted : Tuesday, September 25, 2012 11:13:37 AM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
We get it wrong when we start talking about size with respect to this project.

Is their selling point size? Is it cost? I guess not. Size and cost are mostly for lower level real estate market.

I think that their selling point is convenience, uniqueness and exclusivity. This is a mini-Tatu with the advantage of being close to the city centre. The uniqueness of being the pioneer in the residential skyscraper is a big plus too.

I believe they must have done their research. Expatriates, the rich(guys who wear 500k worth suitssmile ) would not mind being part of this exclusive residence.

You can buy a coke soda 500ml at 60bob at a supermarket. The same soda will retail at 80bob in convenience shops located at petrol stations along highways. Is their product just the coke? NO! They're selling you the convenience!


But I still don't get why the higher one goes in the building the more costly the prices. I would prefer to live in the lower floors.

Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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Jamani
#53 Posted : Tuesday, September 25, 2012 11:13:43 AM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
lovenuffs wrote:
Jamani wrote:
Prices are almost close to those of the prestigious Burj Khalifa.



Shame on you Shame on you Shame on you Burj the cost is KES.110m


http://www.burjkhalifaapartments.info/[/quote]

Seles83 wrote:
[quote=Jamani]Prices are almost close to those of the prestigious Burj Khalifa.


http://www.arabianbusine...square-foot-444434.html

The current price is 2100 AED per Sq Foot.

1 AED=24Kes..L'e Mac 2bdr Appartment size 904..

=2100*24*904= 45.5Million, Lemac price for same place= 16M...

Thats no where close..


which one is the correct price? when were those prices uploaded? what is the walk-in cash price?
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Jamani
#54 Posted : Tuesday, September 25, 2012 11:19:41 AM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Lolest! wrote:
We get it wrong when we start talking about size with respect to this project.

Is their selling point size? Is it cost? I guess not. Size and cost are mostly for lower level real estate market.

I think that their selling point is convenience, uniqueness and exclusivity. This is a mini-Tatu with the advantage of being close to the city centre. The uniqueness of being the pioneer in the residential skyscraper is a big plus too.

I believe they must have done their research. Expatriates, the rich(guys who wear 500k worth suitssmile ) would not mind being part of this exclusive residence.

You can buy a coke soda 500ml at 60bob at a supermarket. The same soda will retail at 80bob in convenience shops located at petrol stations along highways. Is their product just the coke? NO! They're selling you the convenience!


But I still don't get why the higher one goes in the building the more costly the prices. I would prefer to live in the lower floors.



I agree with you, they are people who dont care about value for money and they will buy it.
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jaggernaut
#55 Posted : Tuesday, September 25, 2012 11:30:10 AM
Rank: Elder

Joined: 10/9/2008
Posts: 5,389
lovenuffs wrote:
[quote=Jamani]Prices are almost close to those of the prestigious Burj Khalifa.



Shame on you Shame on you Shame on you Burj the cost is KES.110m


http://www.burjkhalifaapartments.info/[/quote]

Have followed your link on Burj Khalifa and a 77 sqm (835 sqft) 1brm apartment is going for Ksh 78m (AED 3,282,000) or Ksh 93,400 per sqft. The annual rent is $29,947 or Ksh. 2.55m, a ROI of just 3.2%, which is shockingly low. This means Kenyan rents are extremely high with ROI of 7% (slightly more than double that of Burjkhalifa).

http://www.burjkhalifaapartments.info/beautiful-one-bedroom-in-burj-khalifa-for-sale/

http://www.burjkhalifaapartments.info/
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Jamani
#56 Posted : Tuesday, September 25, 2012 11:41:32 AM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
jaggernaut wrote:
lovenuffs wrote:
[quote=Jamani]Prices are almost close to those of the prestigious Burj Khalifa.



Shame on you Shame on you Shame on you Burj the cost is KES.110m


http://www.burjkhalifaapartments.info/[/quote]

Have followed your link on Burj Khalifa and a 77 sqm (835 sqft) 1brm apartment is going for Ksh 78m or Ksh 93,400 per sqft. The annual rent is $29,947 or Ksh. 2.55m, a ROI of just 3.2%, which is shockingly low. This means Kenyan rents are extremely high.

http://www.burjkhalifaapartments.info/beautiful-one-bedroom-in-burj-khalifa-for-sale/

http://www.burjkhalifaapartments.info/


Is it not in a way saying that might not be the actual price?... or implies as someone started above that africa is the place to be..
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Seles83
#57 Posted : Tuesday, September 25, 2012 12:09:52 PM
Rank: Member

Joined: 11/9/2007
Posts: 288
Location: OZ
My landlord is currently getting arround 3.2% ROI and considering my returns in Kenya... I can confidently say Africa is the new China..Wealth transfer happens in cycles ..my best gift is to be African and Kenyan.
More monies, more problems...
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Jamani
#58 Posted : Tuesday, September 25, 2012 12:26:44 PM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Seles83 wrote:
My landlord is currently getting arround 3.2% ROI and considering my returns in Kenya... I can confidently say Africa is the new China..Wealth transfer happens in cycles ..my best gift is to be African and Kenyan.


Your landlord must have bought an overpriced unit, just as L'e Mac is and he now faces the market reality poor returns on investment. Others are averaging 7%..... Value for money.
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Seles83
#59 Posted : Tuesday, September 25, 2012 1:00:16 PM
Rank: Member

Joined: 11/9/2007
Posts: 288
Location: OZ
Jamani wrote:
Seles83 wrote:
My landlord is currently getting arround 3.2% ROI and considering my returns in Kenya... I can confidently say Africa is the new China..Wealth transfer happens in cycles ..my best gift is to be African and Kenyan.


Your landlord must have bought an overpriced unit, just as L'e Mac is and he now faces the market reality poor returns on investment. Others are averaging 7%..... Value for money.


I am not based in Kenya mate!
More monies, more problems...
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Jamani
#60 Posted : Tuesday, September 25, 2012 1:42:52 PM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Seles83 wrote:
Jamani wrote:
Seles83 wrote:
My landlord is currently getting arround 3.2% ROI and considering my returns in Kenya... I can confidently say Africa is the new China..Wealth transfer happens in cycles ..my best gift is to be African and Kenyan.


Your landlord must have bought an overpriced unit, just as L'e Mac is and he now faces the market reality poor returns on investment. Others are averaging 7%..... Value for money.


I am not based in Kenya mate!


Ooops! yeah me too
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