wazua Thu, Apr 30, 2026
Welcome Guest Search | Active Topics | Log In

13 Pages123>»
Waiting to exhale on this Nairobi City!!!!
Rapudox
#1 Posted : Friday, November 23, 2012 4:10:25 PM
Rank: New-farer

Joined: 12/30/2010
Posts: 65
Location: Europe
How can it be, that a Nairobi-Bred Ex-Eastlander with monthly savings of about 150,000Kshs cannot afford a family home in the Upmarket (Lavi, Kile, Thome, Kitisuru etc) areas of this CITY??? What if somebody doesnt want to live 30-40kms away from the CBD, doesnt want to buy that shady overpriced apartment in leafy areas...?? And who the hell goes for a mortgage @20% interest rate??.This rate means paying up to 4 times the original price after 20yrs or so! There is no way, absolutely no way that house in Karen or Nyari for 50M, will be worth 100M (1M$) in 15 years....People keep on saying, there will be no bubble burst....ehh??, How is this going to work out, are they for real??..Even if those properties are bought for cash....any right thinking person would expect no value appreciation, at least in the next 10-20yrs. Its totally insaneShame on you . For 50M, one could buy at least 2 solid good homes in good eurpoean cities. Its heartbreaking, to realise that you can afford a home in western cities, but you cant afford that "same home" in your home city....even when you have reached a level, where you monthly earnings are at least 6 times the per capita income of Kenya......very frustrating
dunkang
#2 Posted : Friday, November 23, 2012 4:20:22 PM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
from 50M to 100M in 15 years? Yes, with inflation at 35% annual. Remember Zimbabwe bread jumped from 25$ to Millions of $ in less than 2 years. Laughing out loudly But on a serious note, the housing prices are sick. This i blame on banks on overvalueing (spelling) trash.
Receive with simplicity everything that happens to you.” ― Rashi
Rapudox
#3 Posted : Friday, November 23, 2012 4:52:08 PM
Rank: New-farer

Joined: 12/30/2010
Posts: 65
Location: Europe
@dunkag....so, with your Zim example...in order to afford a home, it would be wise to vote for Uhuru-Ruto...he he. That is a sure way of going the Zim way
digitek1
#4 Posted : Friday, November 23, 2012 5:03:08 PM
Rank: Veteran

Joined: 2/3/2010
Posts: 1,797
Location: Kenya
the problem with young people is that you want instant coffee. nobody started out in those neighbourhoods unless they inherited. youve got to move up the ladder you can take the 20 % mortgage but you dont have to wait for 20 yrs to pay. take a cheaper house pay off faster sell it use that as a deposit for a more expensive home and walla you are in karen smile
I may be wrong..but then I could be right
Mukiri
#5 Posted : Friday, November 23, 2012 5:19:49 PM
Rank: Elder

Joined: 7/11/2012
Posts: 5,222
digitek1 wrote:
the problem with young people is that you want instant coffee. nobody started out in those neighbourhoods unless they inherited. youve got to move up the ladder you can take the 20 % mortgage but you dont have to wait for 20 yrs to pay. take a cheaper house pay off faster sell it use that as a deposit for a more expensive home and walla you are in karen smile
Hear hearApplause The youth of today are in such a hurry, some even rush to their graves!
Proverbs 19:21
guru267
#6 Posted : Friday, November 23, 2012 6:06:06 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
devolution next year will lead to a fall in land prices around Nairobi!..
Mark 12:29 Deuteronomy 4:16
murchr
#7 Posted : Friday, November 23, 2012 6:09:50 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
guru267 wrote:
devolution next year will lead to a fall in land prices around Nairobi!..
How? Explain using examples
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
ChessMaster
#8 Posted : Friday, November 23, 2012 6:11:05 PM
Rank: Elder

Joined: 2/23/2009
Posts: 1,626
guru267 wrote:
devolution next year will lead to a fall in land prices around Nairobi!..
Applause Applause I also think improvements on the transportation system will help in this
Uncertainty is certain.Let go
guru267
#9 Posted : Friday, November 23, 2012 6:18:15 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
murchr wrote:
guru267 wrote:
devolution next year will lead to a fall in land prices around Nairobi!..
How? Explain using examples
I have been to ruiru and kiambu county and these areas could compare easily to Karen & runda in a few years with the housing construction & infrastructure.. But there are huge discrepancies in land prices (Karen = 40M @acre & kiambu = 8M @acre) Devolution will also reduce demand for property in Nairobi as Kenyans begin to feel comfortable living and working in their own counties! This will probably lead to lower prices around Nairobi and higher land prices in the other counties.. So you know where to buy! smile
Mark 12:29 Deuteronomy 4:16
murchr
#10 Posted : Friday, November 23, 2012 6:59:24 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Devolution will create the "Rundas" and "Karens" of the various counties. The demand of land in Nrb will continue to rise tho not at rapidly as it is now. I dont think people will want to instantly move to the counties. As long as people will want to live and work in the city, the demand of land and housing will still go up. Remember its the govt devolving.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
13 Pages123>»
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Copyright © 2026 Wazua.co.ke. All Rights Reserved.