Interesting! Why is it a “scam” though? Remember, the person analysing those apartments is a mzungu and nowhere in Europe will you find a 3 bedroom apartment at that price, so yes, they’re extremely cheap and he’s considering getting a whole block for rental income.
Currently developers are going that route of affordable housing and those are the prices around the City, more or less. The further out in the City they’re, the cheaper they become.
Chinese have pounced on these affordable housing schemes because they are a quick sell. So, they are building blocks upon blocks of apartments and selling them as they go, no sweat.
My concern would be property management and maintenance & repair like he mentioned, especially the exterior. Most developers who exit projects leave the property management headache to the landlords who in turn find it difficult to form a credible home owners association group to put structures in place, such as property management. With expansive developments such as these, there’s bound to be foreseeable property management issues.
Chinese will build, sell and leave, the rest is up to the residences or landlords to figure how to maintain the properties. I worry about this huge complexes with too many buildings in the same compound to be honest. Potential of them running down in the next few years is quite high.
Why is it a scam though? You pay 2.9m and you have to wait a year. That year itaisha utajiongelesha.
Doesn’t look like a scam.
Thats affordable housing. Iyo ndio bei
The buildings are there and most likely Chinese have sold out several of them, since they’re now advertising. People have already started occupying the houses. If you’ve ever dealt with Chinese developers, you’ll realize that’s how they operate in most of their projects. They’re the only credible developers who don’t rely on deposits (offplan prices) to start a project and their completion is generally on time.
Most of them don’t even roll out the purchase prices until the project is halfway complete. Key point is that they will deliver at the amount stipulated, so it’s not a scam.
Mambo Cleo
Izo nyumba kama uko na pesa unaeza jenga several flats with same bei ya flat moja ya pipu
Sidhani @Bazuka . Hawa wa Chinese wana ujanja sana, that’s why they can manage to deliver such projects. Utapata their construction costs are very low and are actually breaking even to sell those houses at that cost, kwasababu they own companies with the building materials and they probably got a very good deal on the land too. Wewe unanunua kila kitu from them at a markup price, Vat and whatnot, therefore elevating your construction costs.
Hapo kwa taxes ni ukweli. Terms zao na gava huwa wasilipe taxes
Lakini hizi buildings zinatumia concrete panels which wanatengeneza wenyewe pale Great wall Arthi river
Those panels reduces the cost of building a decent percentage in margins. Wakati wa wiring na plumbimg ni kupitisha wires na pipes kwa the hollow panels. The panels themselves for a big project are way cheaper
Unapata simiti haiendi sana, kokoto ni kwa pillars pekee. Hata time ya finishing hautumii simiti mob, ni rangi tu ama some basic interior design
I stay at great wall gardens and so far so good… Life is sometimes a risk take your leap of faith!
Nice! Thanks for sharing the video. Interesting to watch. Btw are there people from Sydney? Some months ago I was looking for a new apartment. Why it is so hard to find a reliable agency with skilled agents in this field, it was hard for me to find a suitable house. Fortunately, some friends recommended me a company of real estate agents. Excellent people and amazing offers. I appreciated everything they proposed to me. Thanks to them I found several apartments to my liking, one of which I bought. Thank you very much for saving me a lot of time and taking care of the whole process.
the link - https://www.wealth360degrees.com/house-land-packages-sydney