Housing Finance Mega-sale (30% off on over 700 units)

GoodVibes

Village Elder
#1
This financial institution has decided to offload a significant portion of their property portfolio in light of worsening market conditions in the real estate sector. For the bargain hunters and those with idle cash, 30% discount is reasonable. You might want to check out their properties. I noticed that most of the properties on offer were apartments and not townhouses. Does this mean that people no longer want to buy apartments? Are the likes of Banda who build bungalows ruining the party for apartment developers??
Link: https://www.hfgroup.co.ke/property-investment/propertylisting/residential

For those in the real estate sector here, if a developer offers a 30% discount on property, does it mean that the margins exceed 30% of the selling price or are they just selling to recover their dead capital??
 
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sani

Village Elder
#6
5.8 million for 92 sqm house? kujenga nyuma mzuri itakucost around 30-40k per sqm. mkenya mwenye atabuy izo nyumba siezi muonea huruma property yake ikienda na Owuor
 

montecarlo

Village Elder
#7
The apartments are richland pointe were selling for 6.5 to 7.5m during construction....... This is a marketing gimmick the apartments are already grossly overpriced they will still make crazy margins.
This is the point most people are missing. HFK is supposed to help the public acquire affordable housing but they stopped being what they used to be years ago.
 

Yunomi

Village Elder
#15
If this is what they're selling these apartments at Komarock Heights 3 bedroom 113 sqm: From Kes. 6.8M then I can say the price has not changed from a few years ago. But 30% off this price brings that price to Kes 4.76M which is still a little expensive but not that bad. I would be curious what the management fees cost a month. Hapo ndio kuna swara. It makes no sense to pay over Kes 3,000 a month in management fees in a property you own.
 
#16
If this is what they're selling these apartments at Komarock Heights 3 bedroom 113 sqm: From Kes. 6.8M then I can say the price has not changed from a few years ago. But 30% off this price brings that price to Kes 4.76M which is still a little expensive but not that bad. I would be curious what the management fees cost a month. Hapo ndio kuna swara. It makes no sense to pay over Kes 3,000 a month in management fees in a property you own.
If you calculate the cost of maintaining a worker to do the same it costs much more especially in this minimum wage era
 

Yunomi

Village Elder
#17
If you calculate the cost of maintaining a worker to do the same it costs much more especially in this minimum wage era
Below is an excerpt from the website
Comprising 1272 beautifully designed apartments nestled within Komarock Estate, the development will be implemented in 3 phases.
Now if they have all these units in that community and each unit pays Kes 3,000 monthly the total revenue is Kes 3,816,000. Cleaning and routine repairs and security should be adequately provided for by these monies.
 
#18
We so fcuked up , selling farm land in Limuru to build industrial park (Tilisi) or Tatu Coffee farms to build houses while at the same time drilling boreholes and buying green houses to farm in Isinya.
The irony of dormans coffee setting up a warehouse to package and roast coffee on a once rich coffee farm.
 
#19
Below is an excerpt from the website

Now if they have all these units in that community and each unit pays Kes 3,000 monthly the total revenue is Kes 3,816,000. Cleaning and routine repairs and security should be adequately provided for by these monies.
That is what I am saying .Sh 3,000 is cheap for management fees.
Parts of this city the fee reaches even 30k
 

GoodVibes

Village Elder
#20
This is the point most people are missing. HFK is supposed to help the public acquire affordable housing but they stopped being what they used to be years ago.
HFCK is not a government parastatal. It is a private developer, owned by private investors and listed at the NSE. Its duty is not to help the public in any way. That is the work of the National Housing Corporation.
 
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