guru me wrote:@ Mugundaman (and other knowledgable persons in the forum) you seem to have a firm grasp of DC-nomics. Hope you do not mind me picking your brain on the DC market. Been away from the motherland for a few years now and after reading this thread I note drastic, mostly positive changes, to the DC.
1. Hoping to get indicative prices on plot (eighth) prices in the following areas:
-Acacia (Afya Sacco prject)
- Kisaju - touching namanga road.
-Kisaju (afya project)
-Kitengela town near proposed railway station
-Ostrich farm
A quick way to appraise yourself on prices is just go to the property majors (buyrentkenya, property24 Kenya, OLX.ke, jumia house ke, etc etc) and do a quick search to get a rough idea of market rates: eg:
https://www.property24.c...sale-in-kitengela-c1871
But be aware that nothing substitutes being on the ground where you can get crazy deals that never make it to the search engines. A mlevi who bought in DC 20 years ago for a pittance in need of hard cash would even sell you what they have for half the market rate if he is desperate enough.
Quote:Have a someone offering me plots in these areas
2. Also, based on your knowledge where would you recommend one target for doing multi-family rental property and what is the going rate for those pieces of land? What sort of units would you put up (bedsiiter, 1br etc)
3. Where is the next big thing in DC for capital gains?
Thanks in advance
I would say for multifamily Milimani would be your best bet as it is right at the edge of the Kitengela CBD and many of the same are coming up in the area. Please note some other estates are heavily controlled (eg Chuna where minimum plot size is 1/4, no apartments, or funny tubuildings are allowed, only good quality maisonettes, and even then they regulate what area your structure will occupy na hata what times your contractor or fundis are allowed to operate each day! This is why it is fetching top shilling in terms of plot prices relative to other estates in Kitengela)
As for the next big thing for cap gains I say is ANYWHERE in the major DC nodes, brother. Nobody I know who has bought clean title in the Kitengela area since the year 2000 and even earlier has ever complained that they have not made roaring cap gains since. Of course the areas closer to the CBD and to the main Namanga Hwy have accrued the biggest gains for obvious reasons but the rising tide in DC has lifted ALL boats without exceptions IMHO. If anyone doubts this just try looking for 1 acre anywhere within a
10km radius of Kitengela mall and see if the going rate is mashed potatoes. Even the ordinary guy on the street like FRM2011 mentioned hapo juu can tell you the crazy price surges that have occurred all over Kitengela in the past 20 years, as well as their endless personal stories of teeth-gnashing bitter regret at having not bought when the prices were indeed mashed potatoes.
Good luck and karibu tena sana to DC!