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Looking for land in Kisumu
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obiero
#11 Posted : Sunday, July 17, 2016 8:05:21 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,318
Location: nairobi
sparkly wrote:
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.

Stature or statue.. :)
COOP, IMH, KEGN, KQ, MTNU
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sparkly
#12 Posted : Sunday, July 17, 2016 1:25:09 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
obiero wrote:
sparkly wrote:
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.

Stature or statue.. :)


Kisungu ilikuja na meli. Statue it is.
Life is short. Live passionately.
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Penny-Stocker
#13 Posted : Wednesday, July 20, 2016 5:10:15 AM
Rank: Member

Joined: 10/31/2010
Posts: 154
Jalul, Penny here! I'll speak of what I know, as of last December last year when I was last in Kisumu. Disclusre: I'm a Kisumu guy...raised there! I have rental properties there as well!

1. Which areas are suitable Nyamasaria, Riat & Kajulu Hills and what are the costs per acre/plot etc? Very very expensive - 3m/acre and that's if you are lucky
2. What are approximate construction costs?Ksh. 25 - 30 per square meter. This will depend on finishes and other factors
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.Don't touch the brokers, yes even with a ten foot pole. Run the other way when you see one. If you can, and it's not easy, find the land owner and deal directly. Takes some networking to achieve this.
4. Is the real estate property bubble about to burst in Kisumu as indicated for Nairobi recently on similar issues?Affordable housing is still a challenge in Kisumu. I don't think we'll be seeing a burst anytime soon. Key word, affordable.
5. Are there any real offers out there for clean transactions?Yes! refer to my answer to #3 above
6. What are the annual land appreciation rates in Kisumu?15% - 20% based on my experience
7. What are the reasonable viability investment options? Don't limit yourself.

Don't listen to nay sayers mara Kisumu this oh Kisumu that! Once again, these are my opinions and should not be taken as professional advice.

Regards,
Penny!
“None but ourselves can free our minds.”
- Bob Marley
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  | | Edit by user: Wednesday, July 20, 2016 5:17 AM | Reason: Not specified
Jalul
#14 Posted : Wednesday, July 20, 2016 11:25:53 PM
Rank: Hello

Joined: 2/14/2013
Posts: 7
Location: Pretoria
Penny-Stocker wrote:
Jalul, Penny here! I'll speak of what I know, as of last December last year when I was last in Kisumu. Disclusre: I'm a Kisumu guy...raised there! I have rental properties there as well!

1. Which areas are suitable Nyamasaria, Riat & Kajulu Hills and what are the costs per acre/plot etc? Very very expensive - 3m/acre and that's if you are lucky
2. What are approximate construction costs?Ksh. 25 - 30 per square meter. This will depend on finishes and other factors
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.Don't touch the brokers, yes even with a ten foot pole. Run the other way when you see one. If you can, and it's not easy, find the land owner and deal directly. Takes some networking to achieve this.
4. Is the real estate property bubble about to burst in Kisumu as indicated for Nairobi recently on similar issues?Affordable housing is still a challenge in Kisumu. I don't think we'll be seeing a burst anytime soon. Key word, affordable.
5. Are there any real offers out there for clean transactions?Yes! refer to my answer to #3 above
6. What are the annual land appreciation rates in Kisumu?15% - 20% based on my experience
7. What are the reasonable viability investment options? Don't limit yourself.

Don't listen to nay sayers mara Kisumu this oh Kisumu that! Once again, these are my opinions and should not be taken as professional advice.

Regards,
Penny!


Thanks @Penny-Stocker for the heads up and encouragement. Much appreciated!
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tnai9
#15 Posted : Thursday, July 21, 2016 8:27:50 AM
Rank: Member

Joined: 6/21/2010
Posts: 345
Location: easto
Penny-Stocker wrote:
Jalul, Penny here! I'll speak of what I know, as of last December last year when I was last in Kisumu. Disclusre: I'm a Kisumu guy...raised there! I have rental properties there as well!

1. Which areas are suitable Nyamasaria, Riat & Kajulu Hillsand what are the costs per acre/plot etc? Very very expensive - 3m/acre and that's if you are lucky


Is that correct, 3M per acre? Just crosschecking the figures.
In Eldoret..places with such rental returns are think 4-6 times that..someone I know recently bought a quarter an acre @6M
"The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." ― Charles Bukowski
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  | | Edit by user: Thursday, July 21, 2016 8:31 AM | Reason: Not specified
mufasa
#16 Posted : Thursday, July 21, 2016 9:57:51 AM
Rank: Member

Joined: 4/15/2008
Posts: 240
These Are Africa’s Fastest Growing Cities – And They’ll Make or Break the Continent....

Kenyan cities are tipped to register the highest growth rates in consumer spending over the next 15 years.....
Kisumu will rise by 277 per cent from $0.6 billion (Sh60.6 billion) in 2015 to $2.2 billion (Sh228 billion) in 2030 at the equivalent of last year’s prices.....

Kisumu, Narok, Busia and Naivasha will catapult in consumer spending in the coming years if we are to go by the gains made by the new Kenyan constitution and the trooping of population into these towns/cities

Do it today! Tomorrow is promise to no-one.
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Surething
#17 Posted : Thursday, July 21, 2016 2:25:28 PM
Rank: New-farer

Joined: 7/12/2016
Posts: 39
Location: Nairobi
These smaller towns particularly those that are county HQ's are especially competitive when it comes to cost of land relative to location & availability of utilities as compared to Nairobi & its environs.
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