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Looking for land in Kisumu
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Jalul
#1 Posted : Friday, July 15, 2016 1:22:06 AM
Rank: Hello

Joined: 2/14/2013
Posts: 7
Location: Pretoria
We are a group of 20 serious and like minded people looking for a piece of land in Kisumu. The plan is to buy some land (between 1/2 and 1 acre) and build 1 and or 2 bed low to medium income rentals without borrowing from a bank as interest rates are too high. We want to achieve maximum return on investment and build the rental/sale property portfolio over say 5 years that can give a decent return on investment. Questions we have are:

1. Which areas are suitable and what are the costs per acre/plot etc?
2. What are approximate construction costs?
3. Given the high rate of "creative" fraud in many GOK land offices in Kenya today, how does one apply appropriate due diligence in ensuring no nasty issues are confronted at any point later in time.
4. Is the real estate property bubble about to burst in Kisumu as indicated for Nairobi recently on similar issues?
5. Are there any real offers out there for clean transactions?
6. What are the annual land appreciation rates in Kisumu?
7. What are the reasonable viability investment options?

We will be happy to get any feedback and will share experiences we have on this forum.

Thanks!
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The Great
#2 Posted : Friday, July 15, 2016 1:04:22 PM
Rank: Member

Joined: 9/9/2015
Posts: 233
Sorry, I digress but are you fixed on Kisumu? Is security there best you can get than say Nbi/Nakuru? Are you interested in value addition? Other towns are growing faster. Are you ok with hooliganism/looting/thuggery? Kisumu leads in those vices. Last I was there I learnt that shops close at 5 coz people must be at home by 6 otherwise they may get attacked by robbers.
"Buy when there's blood in the streets, even if the blood is your own."
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The Great
#3 Posted : Friday, July 15, 2016 1:06:49 PM
Rank: Member

Joined: 9/9/2015
Posts: 233
Kisumu residents are the most trigger happy rioters and looters. Good luck
"Buy when there's blood in the streets, even if the blood is your own."
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aljazeera
#4 Posted : Friday, July 15, 2016 2:22:49 PM
Rank: New-farer

Joined: 6/22/2015
Posts: 51
Location: Nairobi
The Great wrote:
Sorry, I digress but are you fixed on Kisumu? Is security there best you can get than say Nbi/Nakuru? Are you interested in value addition? Other towns are growing faster. Are you ok with hooliganism/looting/thuggery? Kisumu leads in those vices. Last I was there I learnt that shops close at 5 coz people must be at home by 6 otherwise they may get attacked by robbers.


I was expecting this kind of response only it came a little later.No one asked for your opinion or advise on the security of people or shops in Kisumu. Its better you have admitted the fact that your response is outright deviation from the subject.You are not 'the great' in anyway.Drop it.
A Theory of Everything.
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kaka2za
#5 Posted : Friday, July 15, 2016 11:08:21 PM
Rank: Elder

Joined: 10/3/2008
Posts: 4,058
Location: Gwitu
Oh sorry...I didnt read it well and thought the thread was about how to land in Kisumu.
Truth forever on the scaffold
Wrong forever on the throne
(James Russell Rowell)
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Surething
#6 Posted : Saturday, July 16, 2016 8:44:57 AM
Rank: New-farer

Joined: 7/12/2016
Posts: 39
Location: Nairobi
As a so called 'foreigner' having lived & worked in & around Kisumu over the past 9 years this over generalized view of Kisumu is utterly false.

Its all about location. In Nairobi insecurity would be an issue in parts of Eastlands but calm in other areas. Same with Kisumu in Kondele & Obunga while other areas are calm.

The opportunity for outsized returns are all there. There is no bubble as demand for appropriately priced housing with all amenities exceeds supply. Just search for @pennystockers posts on his 4 family 3bedrooms two baths he put up in Kisumu where he's laughing all the way to the bank.

As to issues of land please tread carefully in Kisumu. I have a friend who is currently paying a loan taken to purchase land from a fraud. You may probably have to use the well established estate agencies in Kisumu but be prepared to pay a premium for this service.
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obiero
#7 Posted : Saturday, July 16, 2016 1:28:06 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,341
Location: nairobi
Surething wrote:
As a so called 'foreigner' having lived & worked in & around Kisumu over the past 9 years this over generalized view of Kisumu is utterly false.

Its all about location. In Nairobi insecurity would be an issue in parts of Eastlands but calm in other areas. Same with Kisumu in Kondele & Obunga while other areas are calm.

The opportunity for outsized returns are all there. There is no bubble as demand for appropriately priced housing with all amenities exceeds supply. Just search for @pennystockers posts on his 4 family 3bedrooms two baths he put up in Kisumu where he's laughing all the way to the bank.

As to issues of land please tread carefully in Kisumu. I have a friend who is currently paying a loan taken to purchase land from a fraud. You may probably have to use the well established estate agencies in Kisumu but be prepared to pay a premium for this service.

I lived there and its true that robberies are rampant relative to the size of Kisumu. Its generally not secure but you can survive if you do not expose yourself to late hours. Property demand is high and rental income is good.. NHC are setting up units at Kanyakwar www.nhckenya.co.ke
COOP, IMH, KEGN, MTNU
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UpcomingPaperChaser
#8 Posted : Saturday, July 16, 2016 1:52:04 PM
Rank: Member

Joined: 1/20/2015
Posts: 489
Location: Nairobi
aljazeera wrote:
The Great wrote:
Sorry, I digress but are you fixed on Kisumu? Is security there best you can get than say Nbi/Nakuru? Are you interested in value addition? Other towns are growing faster. Are you ok with hooliganism/looting/thuggery? Kisumu leads in those vices. Last I was there I learnt that shops close at 5 coz people must be at home by 6 otherwise they may get attacked by robbers.


I was expecting this kind of response only it came a little later.No one asked for your opinion or advise on the security of people or shops in Kisumu. Its better you have admitted the fact that your response is outright deviation from the subject.You are not 'the great' in anyway.Drop it.

Dont sound rude, security seriously affects any investment....so dont look at their opinions as tribal and bigotted. Please, learn never to be arrogant.......google a place called Riat Hills, its one good place with the potential of expanding and its some how posh posh!!
Enjoy every moment of your life, you never know when your time will come.
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Jalul
#9 Posted : Saturday, July 16, 2016 11:52:17 PM
Rank: Hello

Joined: 2/14/2013
Posts: 7
Location: Pretoria
The Great wrote:
Kisumu residents are the most trigger happy rioters and looters. Good luck

@ TheGreat, your response labelling Kisumu residents as trigger happy rioters and looters is completely misplaced here. It would perhaps be more useful if you answered asked questions (if you have any answers/experience).
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sparkly
#10 Posted : Sunday, July 17, 2016 7:58:22 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Jalul wrote:
The Great wrote:
Kisumu residents are the most trigger happy rioters and looters. Good luck

@ TheGreat, your response labelling Kisumu residents as trigger happy rioters and looters is completely misplaced here. It would perhaps be more useful if you answered asked questions (if you have any answers/experience).


Security is a genuine concern for Kisumu investors. I have not visited the city personally but I have seen on news businesses burnt (Kimwa), looted (supermarkets) even a stature
destroyed.
Life is short. Live passionately.
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