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How does the cost of buying a house in Kenya compare with other African countries
Rank: Member Joined: 11/27/2006 Posts: 57
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Just looking at the property market in Nairobi and it seems you can't get a decent modest house for less than Ksh. 7 million within a 20km radius from CBD. That means that even a 15yr mortgage will still cost you about 95k/month.
How does this compare with other African countries? Is it realistic for normal salaried workers to own homes in Nairobi? I believe mortgages of 90K+ for 15years are out of reach to most would-be home-buyers.
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Rank: Member Joined: 4/17/2009 Posts: 194
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Why bother with buying a house? Just buy a few plots of land in growing areas and keep renting.
In a couple of year's time the plots will have doubled in value and you can build on one of them by selling some of the other plots. Read Young's thesis on the subj somewhr on Wazua.
Or just keep renting and enjoy the subsidy from your mortaged landlord. LOL!
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Wazua
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How does the cost of buying a house in Kenya compare with other African countries
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