@jamini,

It appears you are looking at history i.e this estate was bulit and sold out in 2007!

And to round up the mega-fraud re: NSSF/Nyayo Embakasi village…. Ministers and Mpigs have purchased entire block of flats and rows of maisonettes at through away prices…. to answer Jamani’s Qn … the low selling price is for their benefit… perhaps its time to nationalise private property… NSSF/Nyayo Embakasi village should be the first on the list… any one with more than one house should surrender the rest… capitalism has failed Africa… okay so has socialism/ujamaa… time for a hybrid?


I would have said something smarter..but the moment passed

The bubble burst a long time ago but estate agents and investors are still burying their heads in the sand like an ostrich. I saw an ad for KSh 17.5m 3br flats on Rhapta Rd,Westy that will be ready in 2010. They're actually opposite my digs,a 3br flat that I luckily bought last year for KSh 6.3m from an emigrating couple. Our compound has lots of parking,a backyard,and lots of mature trees and flowers unlike the new developments. This is because it was done in the 70s when developers weren't stingy with space.



There's a dude who's burnt his fingers doing so-called town houses in Karen on less than half-acre (actually illegal in Karen) and trying to sell them for KSh 37.5m. Needless to say,nobody has bought any of them for over a year now. How can they when a 4br house in Karen on 1 acre with mature trees is going for KSh 30m while a 4br in Old Muthaiga on 0.5 acres is going for KSh 45m?



There are also lots of blocks of flats in Westy where you'll find only 1 or 2 digs with curtains. If no digs in a compound has curtains,then you can conclude that the flats are not yet ready. But if you have only 1 or 2 digs with curtains in a block of 40,what does that mean? It means some naive buyers got suckered. If you don't believe me,just do laps in my hood.

@Fantony,

Thank you for that illuminating piece on NSSF,Mugoya sleaze.
Real estate prices are not coming down at least not in the foreseeable future and while we are at it,here are a few home truths.One,no amount of noise-making will bring down interest rates on mortgages. Banks in this market are driven by the maximization of wealth for their shareholders,anything else comes a distant second including helping the growth of regional economies.So,it is safe to say that home ownership is the sole responsibility of the buyer. Second,land the primal resource on which property is developed is held for speculative purposes and is only in the hands of a few profiteering Kenyans.Let me be clear here.There is absolutely nothing wrong with this,after all any investor wants the highest ROI.In the UK for example land prices are regulated and by extension those of property as well. You cannot sell land for more than the determined value. Here government has failed to intervene through policy and law. The truth of the matter is the home buyer is on his own.What is the solution to this problem? Two things.You could pressure your government to intervene by buying back land or through legal and policy means.Downside is Time and Success.(Too much time expended with too little success)
Another way is using the tried and tested method(Traditional ways). In the past how did people acquire land in Kenya? Though grabbing(illegal with the risk of repossession and/or jail term,lynching),pooling resources with like-minded Kenyans OR waiting to accumulate the ever elusive millions of dollars/shillings/dirhams et al. Like much of life,the choice is yours...that is my one dirham....

Patience Pays in Guaranteed Checks

The future lies in the satellite towns of Thika,Athi-Mavoko,Limuru,Ngong and Kiambu.

The only challenege is proper planning. By 2017,Nairobi will be unlivable.