Why are mortgage interest rates this high in our dear country?

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ndume

Village Elder
#1
To buy a 3-bedroom house or an apartment ( or whatever) even in a third-rate places like Athi river, I need 10M and above, going by what I see in real estate sites. If I take a mortgage for this with KCB for 30 years, the monthly repayment will be 121K. At the end of 30 years, I will have paid about 43M. Many people in formal employment in this country cant afford this, even in two life times. Or it is me who think it is a lot? May be I should start planning retirement far away from the city.
 

Leo Mwangih

Senior Villager
#3
Just buy a plot. 2m in kitengela or syokimau. Or 1m along Kangundo road or Rongai. With 5M you will build a 5 bedroom maisonette on 50 by 100. Fanya hesabu boss. Contact me i organize for you mafundi hawatakuimbia
 

Leo Mwangih

Senior Villager
#4
To buy a 3-bedroom house or an apartment ( or whatever) even in a third-rate places like Athi river, I need 10M and above, going by what I see in real estate sites. If I take a mortgage for this with KCB for 30 years, the monthly repayment will be 121K. At the end of 30 years, I will have paid about 43M. Many people in formal employment in this country cant afford this, even in two life times. Or it is me who think it is a lot? May be I should start planning retirement far away from the city.
Boss. A mortgage is one big mistake. Don't think about it
 

ndume

Village Elder
#6
Just buy a plot. 2m in kitengela or syokimau. Or 1m along Kangundo road or Rongai. With 5M you will build a 5 bedroom maisonette on 50 by 100. Fanya hesabu boss. Contact me i organize for you mafundi hawatakuimbia
Still that add up to about 8M or you mean 5M includes the plot?
 
#7
Just buy a plot. 2m in kitengela or syokimau. Or 1m along Kangundo road or Rongai. With 5M you will build a 5 bedroom maisonette on 50 by 100. Fanya hesabu boss. Contact me i organize for you mafundi hawatakuimbia
5 bedroom house kwa 50 by 100 hukaa kama momo anasqueeze kwa nguo ya mtoi.
 
O

Okiya

Guest
#8
Just buy a plot. 2m in kitengela or syokimau. Or 1m along Kangundo road or Rongai. With 5M you will build a 5 bedroom maisonette on 50 by 100. Fanya hesabu boss. Contact me i organize for you mafundi hawatakuimbia
5M will give you the smallest 5 bedroom mansionette South of Sahara and North of Limpopo
 
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