Wazua
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Waiting to exhale on this Nairobi City!!!!
Rank: New-farer Joined: 11/12/2012 Posts: 92
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trying to convince Kenyans that property values can decline is impossible.
wacha watu wanunue kabisa.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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sentinel prime wrote:trying to convince Kenyans that property values can decline is impossible.
wacha watu wanunue kabisa. Seconded. And you don't have to be a genius to see it already happened and is happening. Pre-2010 all housing projects were always 'almost sold out' even before the first brick was laid. Today see how many months the bahati ridges, Koma 5, Nyayo highrise, Diamond Est. etc etc have to advertise before uptake despite huge discounts. Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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Pesa Nane wrote:sentinel prime wrote:trying to convince Kenyans that property values can decline is impossible.
wacha watu wanunue kabisa. Seconded. And you don't have to be a genius to see it already happened and is happening. Pre-2010 all housing projects were always 'almost sold out' even before the first brick was laid. Today see how many months the bahati ridges, Koma 5, Nyayo highrise, Diamond Est. etc etc have to advertise before uptake despite huge discounts. Which one is nyayo highrise. Anyway i dont thing the bubble will happen in our lifetime. So let us keep on investing in real estate those kaplots of 50x60! Thieves
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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King G wrote:Pesa Nane wrote:sentinel prime wrote:trying to convince Kenyans that property values can decline is impossible.
wacha watu wanunue kabisa. Seconded. And you don't have to be a genius to see it already happened and is happening. Pre-2010 all housing projects were always 'almost sold out' even before the first brick was laid. Today see how many months the bahati ridges, Koma 5, Nyayo highrise, Diamond Est. etc etc have to advertise before uptake despite huge discounts. Which one is nyayo highrise. Anyway i dont thing the bubble will happen in our lifetime. So let us keep on investing in real estate those kaplots of 50x60! Please avoid most parts of Nairobi for the sake of your future legacy.. Though there are still many areas in Kenya that are ripe for investment! But trust me Karen at current prices of 30-40M @acre will not give you 10times returns on your investment in 10years.. c Mark 12:29
Deuteronomy 4:16
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Rank: New-farer Joined: 7/26/2011 Posts: 12
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@guru Kenyans seem to have a herd mentality, they don't learn any other way but the hard one. Some just rush into buying stuff because their friends, family, colleagues are doing so without asking themselves: what's the ROI? I would rather buy a kaplot out of Nairobi where I know within three years I will have a return of say 30 per cent rather than squat on an expensive plot in the capital, which even after 10 years will have given me only 10 per cent! Furthermore, with devolution we need to start doing a county by county ranking of ease of doing business in the various parts of the country as wel as cost of living analyses. Many Nairobians think life begins and ends on either side of Uhuru Highway. They will be surprised that lots of folks are living better quality lives in places like Machakos, Thika, Nanyuki, Eld, Kisii, Kisumu etc
And guess what, as they engage in the Nairobi rat race others are living life lavishly in the so-called remote parts of this country.
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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For $1.4M or Kes119M you buy and live in a house next to Obama. http://www.huffingtonpos...ig_n_527304.html#s77987
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Rank: Member Joined: 8/27/2010 Posts: 495 Location: Nairobi
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Or for the same amount one can buy this with NO security (car jackings at the gate), horrible roads, water shortages etc. From today's Daily Nation although, as usual, poorly researched and written: Kenya faces housing glut crisisSent from my Black Nokia 3310
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Rank: Elder Joined: 10/9/2008 Posts: 5,389
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Rapudox wrote: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???
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 Very sad. Houses in Kenya are overpriced. Can you imagine this 4bdr villa in Florida USA is currently on sale for just Ksh 7m ($85,900), in a 1st world country where incomes are much much higher than KE and mortgage rates are 5%? That amount can only buy you a 3bd flat in Nyayo embakasi, in a 3rd world country. RINK
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Rank: Member Joined: 4/24/2009 Posts: 72
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Rank: Member Joined: 5/2/2007 Posts: 536
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Wazuan wrote:@guru Kenyans seem to have a herd mentality, they don't learn any other way but the hard one. Some just rush into buying stuff because their friends, family, colleagues are doing so without asking themselves: what's the ROI? I would rather buy a kaplot out of Nairobi where I know within three years I will have a return of say 30 per cent rather than squat on an expensive plot in the capital, which even after 10 years will have given me only 10 per cent! Furthermore, with devolution we need to start doing a county by county ranking of ease of doing business in the various parts of the country as wel as cost of living analyses. Many Nairobians think life begins and ends on either side of Uhuru Highway. They will be surprised that lots of folks are living better quality lives in places like Machakos, Thika, Nanyuki, Eld, Kisii, Kisumu etc
And guess what, as they engage in the Nairobi rat race others are living life lavishly in the so-called remote parts of this country. That analysis would be quite useful indeed.
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Rank: New-farer Joined: 12/30/2010 Posts: 65 Location: Europe
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your insights and contributions make it easier for me to loosen myself from this beautiful city. When a diasporan prof. in Europe/US in the upper income bracket cannot afford a home in upmarket Nairobi, then the system ist FOUL & on self Destruct!! This isnt about entitlement.
I do not agree that we the young generation are impatient as someone pointed out earlier on. And this is the issue i have with many of the upper middle class nairobi folks....as long as things are working out for them, as long as they have crossed over in the HERD, they are quick to discredit others with legitimate complaints. Only the middle class can & will change Kenya.
@jaggernaut..thats exactly what am talking about.
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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Wazuan wrote: Furthermore, with devolution we need to start doing a county by county ranking of ease of doing business in the various parts of the country as wel as cost of living analyses. This site might be of help.. County by County ranking
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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No wonder property developers in the developed world are now putting up ads in our dailies!
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Lolest! wrote:No wonder property developers in the developed world are now putting up ads in our dailies!  Receive with simplicity everything that happens to you.” ― Rashi
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Rank: New-farer Joined: 12/30/2010 Posts: 65 Location: Europe
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Nairobi must and will fall hard flat on her face, then recollect herself, in order to move forward. I believe the meltdown will come in 10-15 yrs. After the explosion of apartments, I told my friends 3 yrs ago that their shall be an oversupply and the rents will go down....thats reality.....the problem with meltdowns is that they creep on you slowly like cancer, you dont realize that its happening, you look for ways to adjust and "stay on denial hoping for the best"....and that denial thing is one thing we africans are talented with :))
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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Rapudox wrote:your insights and contributions make it easier for me to loosen myself from this beautiful city. When a diasporan prof. in Europe/US in the upper income bracket cannot afford a home in upmarket Nairobi, then the system ist FOUL & on self Destruct!! This isnt about entitlement.
I do not agree that we the young generation are impatient as someone pointed out earlier on. And this is the issue i have with many of the upper middle class nairobi folks....as long as things are working out for them, as long as they have crossed over in the HERD, they are quick to discredit others with legitimate complaints. Only the middle class can & will change Kenya.
@jaggernaut..thats exactly what am talking about.
Public coffers are being pilfered left right and centre, gun totting youngsters are a dime a penny, white collar crime is at an all time high. If that is not impatience, please tell me what it is? Yes, there are smart hardworking youth, but its the greedy rotten ones that are driving this prices sky high.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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jaggernaut wrote:Rapudox wrote: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???
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 Very sad. Houses in Kenya are overpriced. Can you imagine this 4bdr villa in Florida USA is currently on sale for just Ksh 7m ($85,900), in a 1st world country where incomes are much much higher than KE and mortgage rates are 5%? That amount can only buy you a 3bd flat in Nyayo embakasi, in a 3rd world country. RINK Try following this dream then u'll realize what kunyolewa bila maji is all about....  "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
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Back to basics. Demand and supply. "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
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Rank: Elder Joined: 2/23/2009 Posts: 1,626
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Mukiri and Murchr wise words yet again. GREED!! Agreed back to basics Uncertainty is certain.Let go
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Rank: Elder Joined: 2/23/2009 Posts: 1,626
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@Pesa Nane - I have also seen this trend.Even the middle and lower income real estate projects are being affected. Uncertainty is certain.Let go
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Wazua
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Waiting to exhale on this Nairobi City!!!!
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