mawinder wrote:premio wrote:Phenom estate 4bedroom massionnettes was 14m in 2012 today 22m even if u took a mortgage at that time assuming uve paid only 1m u can sell at 22m make a clean 9000000kes and buy a similar house on msa road or build your own mansion on a 3m prime plot
You mean the Phenom next to Carnivore the houses there go for 22m?The buyers must be financially illiterate to buy at that price
@mawider - Kenyans are peculiar lot. They are buying 4th floor 3 bedroom apartments at 20+ million.
If the bubble ever busts, some Kenyans will commit suicide TWICE.
The only advantage people have is that policy markers are asleep. The day the government will wake up and decide to come up with policies aimed at making homes/houses affordable, people will be in problems.
The winners here are the developers. They build and sell. When the sh!t hits the fan, the buyers will know "malenge ni mboga!".
Kenyans believe this will never happen. Guess where else it was also not supposed to happen - the US!!!
But that's a story for another day!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.