Around 2001 before kibakis time land on the Nairobi-Nananga road was very cheap, especially past Bisil and Ngatataek, before Maili Tisa town, an acre of land was only 5,000 ksh. Didn’t have enough money then but i managed to buy 200acres in three instalments within 2 years…
Didn’t heed anyone and everyones advice then of not to buy ati ni kichaka napoteza pesa tu…right now my 1Million investment is worth around 40M na inapanda tu.
In this life everything is a gamble, just do what pleases you…despite my many failures, trust me nimepitia mengi, this is one of many investments that make me smile, especially when i remember venye nililipa na mashida mingi.
If i asked you guys…who is the richest footballer in the world, many of you wouldn’t know its Mathew Flamimi, he took a gamble early in his playing career and invested in an upcoming company…GF Biochemicals, right now according to forbes his net worth is $14 billion which makes him the richest footballer in the world.
I ain’t comparing myself to him…but my honest opinion is that, once you set your mind on doing something…just do it, if unfortunately you fail, dust yourself and live to fight another day. Hii maisha try taking risks once in a while…ama utaishi place moja never progressing.
Land is a great investment but right now I am beginning to doubt land valuations in Kenya. I visited Bisil 3 years ago to see some land my cousins had bought, I think an acre was 300 K per acre and my friend Optiven was selling 1/8 for 795K in Kajiado and 1.5M in Namanga. I don’t think they have sold that much since those valuations are not making any sense. Why buy a 1/8 in Bisil for that amount when you can get the same in Kitengela. The current problem is that everybody and their mother has bought land for speculation so the day they sell the supply will be more than demand. And the valuation is done by brokers rather than the market prices. But good catch on the 5 K per acre.
Instead of buying 1/8 for 1.5 million in namanga, if you have disposable income buy 30 acres in laikipia/ rumuruti for 50k an acre and forget about it…or rather, take it as an investment for your lastborn like i did. Nitauza akiingia college…15 years from now.
Where did you get this? From a Wozap forward?
If you are talking of Mathieu Flamini, he is not worth anything more than €20m.
If you can’t isolate fake news websites from real news, your judgement on everything else is questionable.
Rumuruti and Laikipia is expensive nowadays since everybody belives their land is valuable…think the cheapest you can is 100 K per acre and then those natives(Maasai) will be grazing on your land or destroying any structures you put up.
If you have the ability, go ahead and keep cattle for beef. There is this breed I saw in St.Croix called Senopol. They can tolerate crazy heat, insects poor forage and since you have a borehole you should be able to irrigate some land for hay. The average bull weighs 1000 Kg and they have good meat quality.
Your land is not worth 40M until you find a buyer willing to pay exactly that.
Big mistake Kenyans make.
The only time you will know its value is the day you manage to offload it. A very difficult task in this economy.
I usually laugh when I read such imaginary stories. Its apparent the OP has no touch with reality in regards to land.you can never conclude the value of your land until its sold.unfortunately, people have come to realize how overrated land is in Kenya and some have been shoved to sell it at a much lower price than the initial investment
Thank you! It’s one thing to say what you think your land is worth and an entirely different thing to see the actual figures lying pretty on your bank statement.
That is an annualized appreciation rate of 20% which is absolutely impossible to sustain over 20 years. That 40M value is only in your mind most likely. If this is true dont expect the trend to continue. Expect 6% per year at best
I bought BTC back in early 2016 when one was retailing at $400. I bought ten of them and forgot about them, later sold them when one was retailing at $19,000 late 2017 ( actually my plan initially was to sell when one will be $50K in 2030 but later revised my ambitions) …nilikafunga hadi watu wakasema nimekua illuminati…made close to 18M from the sale…mind you i was in 4th year in campus. I bought 2 ( 1/8 acre ) plots in Nakuru’s section 58 estate, 3 plots in kenyatta road juja, and 4 more plots just after ruai bypass. The balance nilisuka nayo keja and bought a 2013 Toyota Mark x, drank alcohol and went on crazy vacations hehe…i don’t think i am coming across such cash anytime soon. Fortune knocks once on a man’s door.
Good work man. Acha na haters hapa na saa hio chenye mtu ako nacho labda ni kagari ka loan ama sacco finance. Whether it is worth 10M or 40M, the bottom line remains that you’re a millionaire by Kenyan standards. Something 90% of the population will never ever get close to in their lifetime.
Hii hesabu haiingii…wewe nko sure ata mita moja hujawai nusa…that’s why you imagine how 18m can buy you a cumulative of 10plots not in the 90s but in 2017,a house, car and even bank roll a vacation…umechoma sana
Kuna ka ukweli hapa… Unfortunately the real value of something is what people ultimately are willing to pay for it… But Karl Marx et al said it very well that land is a means of production… Rather than looking at it as something to sell, work said land to bring you an income even as you sit on it, it’s value appreciates with time and also with it achieving its potential through productive use… In some countries, they had mooted the idea of Georgian economics of which if I’m not mistaken had a key pillar as Land Tax. This implied all land had to be paid for continuously yearly as some kind of rent, as the best kind of tax rather than tax income which is unproductive. This would force all landowners to work all their land to realise income to pay for landholdings, as a consequence would create employment and boost GDP based on increase in produced goods/services etc and which Could all be taxed minimally to add to the government purse… Land speculation would cease and the true land value would reveal itself… Mambo ya subdivision and sale ya 1/8th Kite itakoma
Wewe baki hapo as if ni wewe ndio ulinunua hehehe i’m amazed how people are always quick to discredit other people’s stories ni kama tulikua na wewe tukibuy
