real estate bubble bursts in kiambu

sperminator

Village Elder
#1
The chickens have come home to roost for property owners in Kiambu County.
After years of speculative buying and hoarding, investors have found themselves stuck with vast parcels but no buyers to match their exaggerated prices.
Popularly referred to as ‘Nairobi’s bedroom’, Kiambu has witnessed a property rush over the years that saw the clearance of coffee and tea plantations to make way for houses, turning into a concrete jungle of apartments, gated estates, shopping malls and industrial warehouses.
This has seen areas such as Ruaka rise to have the highest land prices in all Nairobi’s satellite towns, with an acre fetching an average of Sh90.2 million, according to the latest figures by property firm HassConsult.
Kiambu County accounts for half of Nairobi’s satellite towns, with the average price of an acre in the seven satellite towns ranging between Sh14.5 million to Sh90.2 million, shows the 2020 fourth quarter Hass Land Index
 

Jimjones

Village Elder
#4
The chickens have come home to roost for property owners in Kiambu County.
After years of speculative buying and hoarding, investors have found themselves stuck with vast parcels but no buyers to match their exaggerated prices.
Popularly referred to as ‘Nairobi’s bedroom’, Kiambu has witnessed a property rush over the years that saw the clearance of coffee and tea plantations to make way for houses, turning into a concrete jungle of apartments, gated estates, shopping malls and industrial warehouses.
This has seen areas such as Ruaka rise to have the highest land prices in all Nairobi’s satellite towns, with an acre fetching an average of Sh90.2 million, according to the latest figures by property firm HassConsult.
Kiambu County accounts for half of Nairobi’s satellite towns, with the average price of an acre in the seven satellite towns ranging between Sh14.5 million to Sh90.2 million, shows the 2020 fourth quarter Hass Land Index
Land prices in Kenya are generally exaggerated due to graft and the well-known national heists A.K.A. NYS1, NYS2, etc... and the stupidity of the looters! I have watched the spiraling of land prices in the last 13 years and can tell that it has never been justifiable... never! Now the prices have been dropping (not really seen in the naked eyes but with a keen eye).
 

ChifuMbitika

Village Commissioner
#7
It's true that the bubble is bursting on the real estate sector in Kenya. I think Corona has really accelerated this burst. Juzi I went to inquire about the price of farming land in my home county and I was amused to learn that an acre previously selling at 1.5m has now dropped to 900k. I am even chilling for the prices to drop further and then I kwachu a few acres to set up my rural future home. Watu wa mburoti maguta must be seeing dust right now.
 

T.Vercetti

Village Sponsor
#15
Ruaka na ile wizi yote iko huko. Infrastructure hakuna, ata sewage lines. Maji pia ni shida. Sometimes you have to wonder what these prices are pegged on.
The chickens have come home to roost for property owners in Kiambu County.
After years of speculative buying and hoarding, investors have found themselves stuck with vast parcels but no buyers to match their exaggerated prices.
Popularly referred to as ‘Nairobi’s bedroom’, Kiambu has witnessed a property rush over the years that saw the clearance of coffee and tea plantations to make way for houses, turning into a concrete jungle of apartments, gated estates, shopping malls and industrial warehouses.
This has seen areas such as Ruaka rise to have the highest land prices in all Nairobi’s satellite towns, with an acre fetching an average of Sh90.2 million, according to the latest figures by property firm HassConsult.
Kiambu County accounts for half of Nairobi’s satellite towns, with the average price of an acre in the seven satellite towns ranging between Sh14.5 million to Sh90.2 million, shows the 2020 fourth quarter Hass Land Index


Gazeti ilisema the prices have gone down because of the slow pace at which limuru road is being built but once it is completely done prices will shoot up like a nonsense.

The dust and confusion is pushing away customers.
 

Micymas

Village Sponsor
#16
It was always a game. At least farmers waliachwa wameshikilia pesa. The dumb bag holders can now go back to farming coffee. The farmers could also do one better and buy back the land at throw away prices. And then build up the prices again and sell then buy. Nicely played
 

Micymas

Village Sponsor
#17
Gazeti ilisema the prices have gone down because of the slow pace at which limuru road is being built but once it is completely done prices will shoot up like a nonsense.

The dust and confusion is pushing away customers.
You do know that's another game being played. The assholes who play kiambus real estate slight of hand game are just building up hype for the next suckers. Kwani barabara ndio nini? Anyone serious about buying knows that it would be better to buy now and by the time they're done constructing the road will be done. They are just hyping up non-existent demand for new suckers
 
#19
Gazeti ilisema the prices have gone down because of the slow pace at which limuru road is being built but once it is completely done prices will shoot up like a nonsense.

The dust and confusion is pushing away customers.
Doesn't Limuru Road connect with Thika Road?? In that case, it will have zero impact given the way Thika Road has become congested from Ngara onwards and the jam is creeping more and more backwards each day. It will start at Pangani by the end of the year.
 

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