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Buyiing apartments in Nairobi & Environs
faa
#21 Posted : Thursday, August 29, 2019 4:43:46 PM
Rank: Member


Joined: 5/8/2007
Posts: 700
MugundaMan wrote:
Ms Mkenya wrote:
Are there any apartments available for sale in Nairobi for the 3.5 - 5.5M budget and are not con jobs?
Mainly for rental income.



Ms Mkenya,
Do not be fooled ati you can get something decent in Kileleshwa for under 5m. Have you seen those "studio apartments" you will just start laughing once you step in them. Some are the size of a decent toilet in a decent 250 sqm Maisonette in DC

Siste listen and listen carefully. Do not waste your time chasing hopeless apartments in Nairobi for that amount of money. Your best bet is think long term. Buy a plot in DC (1/4 acre) for between 2.5-4m and then build pole pole over the long term. Instant gratification is what is killing Kenyans. They do not want to put the effort and time to earn something decent. Trust me in 20 years time when your DC neighbourhood has reached maturity you will be thanking me heartily.

Have you ever owned an apartment in the leafier sections of Nairobi. I have and still do. It is a bonafide NIGHTMARE my sista.

1. The value of the communal land will remain locked forever. You will never see a coin of it kapsa kapsa kapsa.
2. You know how Kenyans are. Service charge disputes prawwwwwwwwwwww for years and years. People do not want to pay and there is nothing you can do about it except try to prevent them from selling when that time comes. You think they care? Nope!
3. Cramped living conditions no matter how plush the apartment is. Have you ever tried living in a decent sized apartment in Kile or Lavi. At first it is fun. You enjoy the company of mingi mingi people. Then it starts to grate at you. Mara oo someone is throwing a bash downstairs and the noise is irritating. Kids riding bikes and screaming all the time. People are peeing in the pool and spitting dani yaghe. The sauna has broken down and residents refuse to changa to fix despite endless pleas. Hopeless whatsapp group "forwards" baaaaaauuu until you get sick of it. Walevi neighbours scratch or bang your car while you are asleep and deny all culpability once you wake up. The list is endless.
4. Do not be fooled ati renting is a cake walk and occupancy is guaranteed (especially for ati a matchbox studio apartment in Kile Laughing out loudly ). Think carefully. Who would you rent to? A middle class Nairobian with money would never want to live there. A broke university student with hypergamy would definitely want to live there but no way they will pay you more than 10k because they simply cannot afford it. If the deal seems too good to be true.....

Now compare with the buy and build in DC model. You buy and build say for 10m over three years (if you can afford to have 3-5.5m in the short term certainly over three years you can hit your 10 m target.After 3 years you have a spacious maisonette with a huge piece of land that you own ALONE with no crazy communal living issues that is growing in value at a crazy rate yearly.

As I repeated so many times on the DC is the future thread....ALL the cap gains including the land is YOURS for the unlocking and 10 years later when you want to sell (to those clueless investors who want to hepa their studio apartments and become adults living in a decent house) you sell bila story mingi and smile all the way to the bank. Take these other fellows advice at your own peril!

Shalom


wisedom detected.
Mkimwa
#22 Posted : Thursday, August 29, 2019 9:45:58 PM
Rank: Member


Joined: 10/26/2008
Posts: 370
Ms Mkenya wrote:
Are there any apartments available for sale in Nairobi for the 3.5 - 5.5M budget and are not con jobs?
Mainly for rental income.


How much rental income do you expect from this investment? 20K? 30K? 40K? 50K?
NewMoney
#23 Posted : Thursday, August 29, 2019 11:01:39 PM
Rank: New-farer


Joined: 3/1/2019
Posts: 88
Location: Nairobi
faa wrote:
MugundaMan wrote:
Ms Mkenya wrote:
Are there any apartments available for sale in Nairobi for the 3.5 - 5.5M budget and are not con jobs?
Mainly for rental income.



Ms Mkenya,
Do not be fooled ati you can get something decent in Kileleshwa for under 5m. Have you seen those "studio apartments" you will just start laughing once you step in them. Some are the size of a decent toilet in a decent 250 sqm Maisonette in DC

Siste listen and listen carefully. Do not waste your time chasing hopeless apartments in Nairobi for that amount of money. Your best bet is think long term. Buy a plot in DC (1/4 acre) for between 2.5-4m and then build pole pole over the long term. Instant gratification is what is killing Kenyans. They do not want to put the effort and time to earn something decent. Trust me in 20 years time when your DC neighbourhood has reached maturity you will be thanking me heartily.

Have you ever owned an apartment in the leafier sections of Nairobi. I have and still do. It is a bonafide NIGHTMARE my sista.

1. The value of the communal land will remain locked forever. You will never see a coin of it kapsa kapsa kapsa.
2. You know how Kenyans are. Service charge disputes prawwwwwwwwwwww for years and years. People do not want to pay and there is nothing you can do about it except try to prevent them from selling when that time comes. You think they care? Nope!
3. Cramped living conditions no matter how plush the apartment is. Have you ever tried living in a decent sized apartment in Kile or Lavi. At first it is fun. You enjoy the company of mingi mingi people. Then it starts to grate at you. Mara oo someone is throwing a bash downstairs and the noise is irritating. Kids riding bikes and screaming all the time. People are peeing in the pool and spitting dani yaghe. The sauna has broken down and residents refuse to changa to fix despite endless pleas. Hopeless whatsapp group "forwards" baaaaaauuu until you get sick of it. Walevi neighbours scratch or bang your car while you are asleep and deny all culpability once you wake up. The list is endless.
4. Do not be fooled ati renting is a cake walk and occupancy is guaranteed (especially for ati a matchbox studio apartment in Kile Laughing out loudly ). Think carefully. Who would you rent to? A middle class Nairobian with money would never want to live there. A broke university student with hypergamy would definitely want to live there but no way they will pay you more than 10k because they simply cannot afford it. If the deal seems too good to be true.....

Now compare with the buy and build in DC model. You buy and build say for 10m over three years (if you can afford to have 3-5.5m in the short term certainly over three years you can hit your 10 m target.After 3 years you have a spacious maisonette with a huge piece of land that you own ALONE with no crazy communal living issues that is growing in value at a crazy rate yearly.

As I repeated so many times on the DC is the future thread....ALL the cap gains including the land is YOURS for the unlocking and 10 years later when you want to sell (to those clueless investors who want to hepa their studio apartments and become adults living in a decent house) you sell bila story mingi and smile all the way to the bank. Take these other fellows advice at your own peril!

Shalom


wisedom detected.



Ever wondered why we have more fools than wise men in the world? Because the fools always agree each other. It's sad but there is nothing we can do
MugundaMan
#24 Posted : Friday, August 30, 2019 2:02:32 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,906
Location: DC (Dustbowl County)
At an expectation of 300k per month in rent for a cramped 30sqm Chinese bedsitter in VALLEY ARCADE of all places, and a laughable assertion that no young people are buying and building in DC, I think it is plain as day to the WHOLE WORLD who the fool (your word not mine) in this WHOLE SITE is Laughing out loudly Laughing out loudly Laughing out loudly
**Destination 2k posts and it's curtains!****Dustbowl County is the Future of Kenya. Join us investing here or perish!!****On Vacation until Jan 1st 2020**Current NSE holdings:ZERO. Next planned re-entry into the NSE: 2052
NewMoney
#25 Posted : Friday, August 30, 2019 9:07:41 AM
Rank: New-farer


Joined: 3/1/2019
Posts: 88
Location: Nairobi
MugundaMan wrote:
At an expectation of 300k per month in rent for a cramped 30sqm Chinese bedsitter in VALLEY ARCADE of all places, and a laughable assertion that no young people are buying and building in DC, I think it is plain as day to the WHOLE WORLD who the fool (your word not mine) in this WHOLE SITE is Laughing out loudly Laughing out loudly Laughing out loudly


There is nowhere in this thread where I stated that you will get 300k for a studio in Kenya. quote it and I will agree with you.

There are young people in DC and these are mostly those have little money to work with, and yet they still want to be counted as real estate businessmen, which is fine, but they will not yield to much unfortunately.

Anybody with good money will not foolishly fall in love with one asset category... as for myself, I have made good money with Apartments, it is a hidden gem, but it is not my main hustle. This was just a piece of advice for those without much capital and want to join the club of serious investors not wannabe investors....

I will continue to more than double my networth every year partly because I don't have competition, majority of Kenyans are literally running in the wrong direction and you can't convince them otherwise, what can I do? Some are waiting to make money in 20 years when money can be made today...
MugundaMan
#26 Posted : Friday, August 30, 2019 11:54:44 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,906
Location: DC (Dustbowl County)
MugundaMan wrote:
NewMoney wrote:


The "Bedsitter" in valley arcade will bring in more rent than the 4 bedroom house in a Kite gated community
.This is a cliche but don't judge a book by its cover, my friend. She said she is looking for rental income so it's a viable option. The tenants will most likely be foreigners who will pay rent per quarter and will take good care of the place. FYI, studios rake in over $3k per month in New York, this is the direction Nairobi is heading.


Laughing out loudly Laughing out loudly Laughing out loudly
Laughing out loudly Laughing out loudly Laughing out loudly

Ati "foreigners" paying 300k kshs for a 50 sqft Chinese bedsitter in valley Arcade Laughing out loudly Laughing out loudly

Its ok to dream my braddah but there is no cure for delusionality.


As i said, you are living on planet delusional. You cannot even remember your own pablum spewed hapa with aplomb. SMH
**Destination 2k posts and it's curtains!****Dustbowl County is the Future of Kenya. Join us investing here or perish!!****On Vacation until Jan 1st 2020**Current NSE holdings:ZERO. Next planned re-entry into the NSE: 2052
wukan
#27 Posted : Friday, August 30, 2019 12:35:08 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,188
deadpoet wrote:
mufasa wrote:
Yes. there some highrise apartments coming up in Ngara areas. They are available for that price if you buy them offplan. Check the Thursday Nation for more offers


The highrise apartments in Ngara are certainly interesting. My worry though is that in a few years the environment might turn into something similar to the 'projects' of the states - you know, gangs, broken glass everywhere, people pissing on the stairs/elevators, etc. I've listened to enough rap music to know that its not fun.

Any thoughts on this?


American 'projects' had their own issues of racial social integration which allowed poverty to concentrate in their social housing. This is not a social housing project.

GTC complex in chiromo has 4 such high rises and they don't look like turning into 'projects'. It's likely the area will turn out into an mid to upper income neighborhood eventually displacing the informal sector in the area especially if the streets are 'cleaned up'.
nairobby
#28 Posted : Friday, August 30, 2019 2:41:48 PM
Rank: Member


Joined: 1/18/2019
Posts: 141
Location: kenya
wukan wrote:
deadpoet wrote:
mufasa wrote:
Yes. there some highrise apartments coming up in Ngara areas. They are available for that price if you buy them offplan. Check the Thursday Nation for more offers


The highrise apartments in Ngara are certainly interesting. My worry though is that in a few years the environment might turn into something similar to the 'projects' of the states - you know, gangs, broken glass everywhere, people pissing on the stairs/elevators, etc. I've listened to enough rap music to know that its not fun.

Any thoughts on this?


American 'projects' had their own issues of racial social integration which allowed poverty to concentrate in their social housing. This is not a social housing project.

GTC complex in chiromo has 4 such high rises and they don't look like turning into 'projects'. It's likely the area will turn out into an mid to upper income neighborhood eventually displacing the informal sector in the area especially if the streets are 'cleaned up'.


Ngara is RIPE for gentrification.

GTC is proper luxury, they cannot be mentioned in the same breadth. You know how Edermann knows how to cut corners when it comes to finishes.
NewMoney
#29 Posted : Friday, August 30, 2019 7:26:09 PM
Rank: New-farer


Joined: 3/1/2019
Posts: 88
Location: Nairobi
NewMoney wrote:
Ms Mkenya wrote:
Are there any apartments available for sale in Nairobi for the 3.5 - 5.5M budget and are not con jobs?
Mainly for rental income.


In the 3.5-5m range you can get a studio apartment in Kileleshwa, Kilimani, Valley arcade area which can rent for 30k, and even more if you put it on airbnb A good portion of new buildings under construction have them especially those done by the Chinese developers. When passing by a construction site just pop in and ask ..

The studios are always the first to sell-out.

Note that, the price for off-plan is usually the same as the final price at the end, the only advantage of buying early is you will have more options for choosing the size and position of your unit since it is a matter of first-come first-serve. hii mambo ingine ya wakenya kujifanya apartment ina appreciate after construction ni artificial appreciation which gets corrected by the market sooner or later, never buy into such


@mugunda my argument about new york studios and Nairobi were completely different statements, let me excuse you for being too slow in following my thought process.

Valley arcade studio today is 30k, a few years ago it was probably half that (i.e SQs since studios have only started popping up now), in the future, the sky is the limit and to prove it I gave you an example of New york studios just so that you understand that studios are not just a 'local' phenomena.

Let those with eyes see and those with ears hear hao wengine we can't help them
MugundaMan
#30 Posted : Saturday, August 31, 2019 6:12:07 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,906
Location: DC (Dustbowl County)
NewMoney wrote:
NewMoney wrote:
Ms Mkenya wrote:
Are there any apartments available for sale in Nairobi for the 3.5 - 5.5M budget and are not con jobs?
Mainly for rental income.


In the 3.5-5m range you can get a studio apartment in Kileleshwa, Kilimani, Valley arcade area which can rent for 30k, and even more if you put it on airbnb A good portion of new buildings under construction have them especially those done by the Chinese developers. When passing by a construction site just pop in and ask ..

The studios are always the first to sell-out.

Note that, the price for off-plan is usually the same as the final price at the end, the only advantage of buying early is you will have more options for choosing the size and position of your unit since it is a matter of first-come first-serve. hii mambo ingine ya wakenya kujifanya apartment ina appreciate after construction ni artificial appreciation which gets corrected by the market sooner or later, never buy into such


@mugunda my argument about new york studios and Nairobi were completely different statements, let me excuse you for being too slow in following my thought process.

Valley arcade studio today is 30k, a few years ago it was probably half that (i.e SQs since studios have only started popping up now), in the future, the sky is the limit and to prove it I gave you an example of New york studios just so that you understand that studios are not just a 'local' phenomena.

Let those with eyes see and those with ears hear hao wengine we can't help them


Laughing out loudly

Whatever you say, papa.
**Destination 2k posts and it's curtains!****Dustbowl County is the Future of Kenya. Join us investing here or perish!!****On Vacation until Jan 1st 2020**Current NSE holdings:ZERO. Next planned re-entry into the NSE: 2052
mkenyan
#31 Posted : Saturday, August 31, 2019 4:20:15 PM
Rank: Veteran


Joined: 4/1/2009
Posts: 1,765
NewMoney wrote:
NewMoney wrote:
Ms Mkenya wrote:
Are there any apartments available for sale in Nairobi for the 3.5 - 5.5M budget and are not con jobs?
Mainly for rental income.


In the 3.5-5m range you can get a studio apartment in Kileleshwa, Kilimani, Valley arcade area which can rent for 30k, and even more if you put it on airbnb A good portion of new buildings under construction have them especially those done by the Chinese developers. When passing by a construction site just pop in and ask ..

The studios are always the first to sell-out.

Note that, the price for off-plan is usually the same as the final price at the end, the only advantage of buying early is you will have more options for choosing the size and position of your unit since it is a matter of first-come first-serve. hii mambo ingine ya wakenya kujifanya apartment ina appreciate after construction ni artificial appreciation which gets corrected by the market sooner or later, never buy into such


@mugunda my argument about new york studios and Nairobi were completely different statements, let me excuse you for being too slow in following my thought process.

Valley arcade studio today is 30k, a few years ago it was probably half that (i.e SQs since studios have only started popping up now), in the future, the sky is the limit and to prove it I gave you an example of New york studios just so that you understand that studios are not just a 'local' phenomena.

Let those with eyes see and those with ears hear hao wengine we can't help them

indeed. infact if one does airbnb they would make more money from such studios. I know of at least four people making about 90k a month per studio with studios in kilimani area. the most important thing is the location. then your network is the next important one. you can't get such from kitengela/kajiado. kitengela/kajiado is a great investment area for a smart investor but not the only one. mungundaman unfortunately comes across as very one track minded. he's like the proverbial man with a hammer - everything is a nail to be hammered in.
hardwood
#32 Posted : Saturday, August 31, 2019 8:44:58 PM
Rank: Elder


Joined: 7/28/2015
Posts: 9,362
Location: Rodi Kopany, Homa Bay
There is a big billboard hapa lavington advertising Riruta gardens apartments that start at 1.9m.
Gathige
#33 Posted : Sunday, September 01, 2019 1:31:54 PM
Rank: Veteran


Joined: 3/29/2011
Posts: 2,075
hardwood wrote:
There is a big billboard hapa lavington advertising Riruta gardens apartments that start at 1.9m.



Prices have slowed that low or the seller is marketing property in " Upper Lavington" Kawangware
"Things that matter most must never be at the mercy of things that matter least." Goethe
Impunity
#34 Posted : Sunday, September 01, 2019 5:25:16 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,144
Location: Masada
Gathige wrote:
hardwood wrote:
There is a big billboard hapa lavington advertising Riruta gardens apartments that start at 1.9m.



Prices have slowed that low or the seller is marketing property in " Upper Lavington" Kawangware


1.9M is for studio.
Add taxes and fees and it hits 2M
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

maureenowaters
#35 Posted : Friday, September 06, 2019 3:34:09 PM
Rank: New-farer


Joined: 8/15/2019
Posts: 15
The price is so handsome, and I think you can take a studio apartment on that price.
chiaroscuro
#36 Posted : Friday, September 06, 2019 3:41:23 PM
Rank: Veteran


Joined: 2/2/2012
Posts: 1,104
Location: Nairobi
For some time now I have admired the houses in Hazina South B. I pass nearby about once a month.

I'm thinking of buying for investment.

Does anyone know the prices of the 2BR units?
And what kind of rent can I expect to get?
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