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USIU land GRABBED - 40 acres!
Rank: Elder Joined: 7/22/2008 Posts: 2,723
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Note to self: Never buy land in Kenya. Balaa tupu.
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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hardwood wrote:I thought this maneno of someone selling a piece of land to two different people only happens huko utawala and kihiu mwiri. @hardwood, it happens everywhere. Mashamba zimesha and the available ones are now doing the second rounds circulation. The best sure way to safeguard your Kaplot is to develop. Eviction is very hard unlike vacant land occupation. "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Elder Joined: 7/22/2008 Posts: 2,723
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I think the money trail is easier to follow than the paper trail. Moi can say he did not sell the land in 1988 nor did he sign the transfer document but if it can be shown that he received money then he will have to explain what it was for.
This is a classic case of exactly what is wrong with Kenya and why we will remain underdeveloped for a long time:
An empty piece of land is:
Sold for Ksh. 600,000 in 1982
Sold for Ksh. 10,000,000 in 1988
Sold for Ksh. 17,000,000 in February 1999
Sold for Ksh. 90,000,000 in May 1999
Sold for Ksh.500,000,000 in 2016
This is madness. The value of that empty piece of land rose 83,300% in 34 years or an annual compound growth rate of 21.87 % for an empty piece of land!!?? No industry, no development, no work put in it, nothing, just buying it and locking the title in a cabinet and voila, 34 years later it has multiplied 833 times. Something is very wrong.
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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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Kusadikika wrote:I think the money trail is easier to follow than the paper trail. Moi can say he did not sell the land in 1988 nor did he sign the transfer document but if it can be shown that he received money then he will have to explain what it was for.
This is a classic case of exactly what is wrong with Kenya and why we will remain underdeveloped for a long time:
An empty piece of land is:
Sold for Ksh. 600,000 in 1982
Sold for Ksh. 10,000,000 in 1988
Sold for Ksh. 17,000,000 in February 1999
Sold for Ksh. 90,000,000 in May 1999
Sold for Ksh.500,000,000 in 2016
This is madness. The value of that empty piece of land rose 83,300% in 34 years or an annual compound growth rate of 21.87 % for an empty piece of land!!?? No industry, no development, no work put in it, nothing, just buying it and locking the title in a cabinet and voila, 34 years later it has multiplied 833 times. Something is very wrong. all land should be owned by the govt and any person willing to develop land should lease it.if you want to sell it, transfer back to govt and the same govt will lease it to someone else. that way there can be a good trail.lakini hapa Kenya ngilu tried to change somethings and alipigwa vita and kicked out.. I don't know how Ethiopia does it but its a success. a friend from Ghana told me he is buying a plot in accra in a place like langata for 300,000 ksh. what about the same price in Kenya langata?300,000 dollars!!!!! amidst every poverty encroachment there is a richman flying.somoene's benefitting from all this confusion at lands office
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Rank: Elder Joined: 7/22/2008 Posts: 2,723
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enyands wrote:Kusadikika wrote:I think the money trail is easier to follow than the paper trail. Moi can say he did not sell the land in 1988 nor did he sign the transfer document but if it can be shown that he received money then he will have to explain what it was for.
This is a classic case of exactly what is wrong with Kenya and why we will remain underdeveloped for a long time:
An empty piece of land is:
Sold for Ksh. 600,000 in 1982
Sold for Ksh. 10,000,000 in 1988
Sold for Ksh. 17,000,000 in February 1999
Sold for Ksh. 90,000,000 in May 1999
Sold for Ksh.500,000,000 in 2016
This is madness. The value of that empty piece of land rose 83,300% in 34 years or an annual compound growth rate of 21.87 % for an empty piece of land!!?? No industry, no development, no work put in it, nothing, just buying it and locking the title in a cabinet and voila, 34 years later it has multiplied 833 times. Something is very wrong. all land should be owned by the govt and any person willing to develop land should lease it.if you want to sell it, transfer back to govt and the same govt will lease it to someone else. that way there can be a good trail.lakini hapa Kenya ngilu tried to change somethings and alipigwa vita and kicked out.. I don't know how Ethiopia does it but its a success. a friend from Ghana told me he is buying a plot in accra in a place like langata for 300,000 ksh. what about the same price in Kenya langata?300,000 dollars!!!!! amidst every poverty encroachment there is a richman flying.somoene's benefitting from all this confusion at lands office You are right enyands. This is just crazy. What is the incentive to build any wealth if all you have to do is sit on a title and just sell it. I have put the numbers on a chart and it is a steady rise upto that February 1999 number and then the graph just lifts off. Is there an economist in the house who can explain this phenomenon. What happened in 1999 that led to this. I know I am using numbers not adjusted to inflation but there should be an explanation for the sudden rise in property values in the 2000s. Or could it have something to do with the 2002 change of government??!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Kusadikika wrote:enyands wrote:Kusadikika wrote:I think the money trail is easier to follow than the paper trail. Moi can say he did not sell the land in 1988 nor did he sign the transfer document but if it can be shown that he received money then he will have to explain what it was for.
This is a classic case of exactly what is wrong with Kenya and why we will remain underdeveloped for a long time:
An empty piece of land is:
Sold for Ksh. 600,000 in 1982
Sold for Ksh. 10,000,000 in 1988
Sold for Ksh. 17,000,000 in February 1999
Sold for Ksh. 90,000,000 in May 1999
Sold for Ksh.500,000,000 in 2016
This is madness. The value of that empty piece of land rose 83,300% in 34 years or an annual compound growth rate of 21.87 % for an empty piece of land!!?? No industry, no development, no work put in it, nothing, just buying it and locking the title in a cabinet and voila, 34 years later it has multiplied 833 times. Something is very wrong. all land should be owned by the govt and any person willing to develop land should lease it.if you want to sell it, transfer back to govt and the same govt will lease it to someone else. that way there can be a good trail.lakini hapa Kenya ngilu tried to change somethings and alipigwa vita and kicked out.. I don't know how Ethiopia does it but its a success. a friend from Ghana told me he is buying a plot in accra in a place like langata for 300,000 ksh. what about the same price in Kenya langata?300,000 dollars!!!!! amidst every poverty encroachment there is a richman flying.somoene's benefitting from all this confusion at lands office You are right enyands. This is just crazy. What is the incentive to build any wealth if all you have to do is sit on a title and just sell it. I have put the numbers on a chart and it is a steady rise upto that February 1999 number and then the graph just lifts off. Is there an economist in the house who can explain this phenomenon. What happened in 1999 that led to this. I know I am using numbers not adjusted to inflation but there should be an explanation for the sudden rise in property values in the 2000s. Or could it have something to do with the 2002 change of government??! You cannot build where there are no roads. The Govt should do their part first so that everything else may fall in place. Roads, utilities all belong to the govt "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: Veteran Joined: 7/3/2007 Posts: 1,635
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Kusadikika wrote:I think the money trail is easier to follow than the paper trail. Moi can say he did not sell the land in 1988 nor did he sign the transfer document but if it can be shown that he received money then he will have to explain what it was for.
This is a classic case of exactly what is wrong with Kenya and why we will remain underdeveloped for a long time:
An empty piece of land is:
Sold for Ksh. 600,000 in 1982
Sold for Ksh. 10,000,000 in 1988
Sold for Ksh. 17,000,000 in February 1999
Sold for Ksh. 90,000,000 in May 1999
Sold for Ksh.500,000,000 in 2016
This is madness. The value of that empty piece of land rose 83,300% in 34 years or an annual compound growth rate of 21.87 % for an empty piece of land!!?? No industry, no development, no work put in it, nothing, just buying it and locking the title in a cabinet and voila, 34 years later it has multiplied 833 times. Something is very wrong. This is clear evidence that we have a bubble economy. I remember someone doing a similar analysis of house prices in Kieleshwa, Ruda etc. There is simply no relationship between price and value and a big chunk of the real estate business, it seems, has been grabbed by money launderers. Clearly something has to pop. The only question is when. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: User Joined: 1/20/2014 Posts: 3,528
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Bubble will never burst as long as there is ill gotten money floating around in Billions through tenderprenuers ......... like those NYS figures, you will never feel a pinch buying inflated 'properties' if you are a beneficiary. Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Member Joined: 5/13/2008 Posts: 558
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Wakanyugi wrote:Kusadikika wrote:I think the money trail is easier to follow than the paper trail. Moi can say he did not sell the land in 1988 nor did he sign the transfer document but if it can be shown that he received money then he will have to explain what it was for.
This is a classic case of exactly what is wrong with Kenya and why we will remain underdeveloped for a long time:
An empty piece of land is:
Sold for Ksh. 600,000 in 1982
Sold for Ksh. 10,000,000 in 1988
Sold for Ksh. 17,000,000 in February 1999
Sold for Ksh. 90,000,000 in May 1999
Sold for Ksh.500,000,000 in 2016
This is madness. The value of that empty piece of land rose 83,300% in 34 years or an annual compound growth rate of 21.87 % for an empty piece of land!!?? No industry, no development, no work put in it, nothing, just buying it and locking the title in a cabinet and voila, 34 years later it has multiplied 833 times. Something is very wrong. This is clear evidence that we have a bubble economy. I remember someone doing a similar analysis of house prices in Kieleshwa, Ruda etc. There is simply no relationship between price and value and a big chunk of the real estate business, it seems, has been grabbed by money launderers. Clearly something has to pop. The only question is when. Please leave the analysts incremental percentages on land and you will somehow understand the logic of The law of demand and supply. If there is demand for a product and there is no supply, then the price will definitely increase. Anyone with 10 Acres + land anywhere along Thika and or Kiambu Roads and is willing to sell can easily get offered 30-50 Million per acre. You can talk of the same about upperhill, Runda etc. The price of a farmland in Ngoingwa -Thika around 1980 was Ksh 3000 per Acre. Today similar parcel is priced at 5 Million for Quarter acre. Wait for the bubble to burst alone, coz such things dint happen in cash driven system like ours
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