Amara Ridge Karen

[system]

100M? :eek::eek:
I watch Property Weekly show and can never believe the prices in those homes which cost 5M>x<10M.

[Quanstrom]

@kah tony

if you consider that it is only 10 houses, it is very plausible. 10 out of 40 million.

Most retired professionals can afford that na watu wa diaspora akina @KaBuda na @Swansea.

@wheelz just said that there are projects with 40 or more houses, just not as vocal as cytonn. This Amara Ridge project is just an example

[Etigere]

@Quanstrom

Houses were sold for between 90 million and 112 million (Roughly 1 million USD):eek::eek:…the project sold out five months before completion:eek::eek:
People have money wengi wetu ni breadcrumbs tu tunapata. Who buys such? Diplomats? Politicians? Businesspeople?

Guess the lesson here is ‘usiseme hakuna pesa, sema huna pesa’

[system]

@Susskid

JV in nini boss?

Joint venture, meffi

[Koolibah]

@kah tony

if you consider that it is only 10 houses, it is very plausible. 10 out of 40 million.

Most retired professionals can afford that na watu wa diaspora akina @KaBuda na @Swansea.

In the US 1M sio mchezo. The credit score and other loans make it near impossible. Most mortgages kenyans take up are below 500k

[marine1]

@Susskid

JV in nini boss?

Joint venture

[wheelz]

@Quanstrom

We are not talking about net-worth here. Don’t make that mistake. I suspect that anyone buying a 1 million USD house has a networth of at least 10 mil, at least. This kind of people have multiple vacation homes, not just one. The people you are taking about can afford those houses, but they don’t have the luxury to do so because it is a significant portion of their wealth I.e they would have to liquidate investments so it doesn’t make sense

Net worth is an indicator of ability at the very least. Hence the brackets. A number of million dollar homes I have seen are supported by multiple incomes. Either a salary and a side hustle income from one or both partners in the home. Such partnerships aren’t indexed in net worth lists, but they can afford these homes.

One more thing, even in lower income brackets, the houses takes up a bulk of the income. So a $1m property would be part of a $2m net worth easy. Not necessarily on the higher end of the bracket. (10m)

And very few people would liquidate to buy this in cash. Especially if it’s not income earning asset… if they do, they’d leverage it on a loan after an appreciated valuation to unlock money. I.e. the buyer of the first house paid a deposit at a 90m valuation at the beginning of the project, approx 9-18m. Then at handover, he’s required to pay 72-81m, yet the unit is now worth 112m on market value, approx 125m on property valuation. He’s already made 22m on paper on a 9m investment. His exit on this is one of several options. Sell at 112m/mortgage it/pay for it fully and wait for more capital gains.

[Koolibah]

@Alchemist

People have money indeed. 2% of the population always earns more than the rest of the 98% combined.

Of the 2% 90% is stolen money. I was invited to a bash ya mbirrionaire flani huko rea vipingo, wueh! Guys live large, na hio ni holiday home. Hadi movie theatre.

[uwesmake]

@Koolibah

Of the 2% 90% is stolen money. I was invited to a bash ya mbirrionaire flani huko rear vipingo, wueh! Guys live large, na hio ni holiday home. Hadi movie theatre.

mbicha ama ni kelele ngombe wewe ulikulwa REAR VIPINGO

[omhangla]

Amos wako was one of the buyers

[Koolibah]

@uwesmake

mbicha ama ni kelele ngombe wewe ulikulwa REAR VIPINGO

Chehofa Wanyonyi unataka kunyonya rear sasa!

[kah_tony]

@Koolibah

Of the 2% 90% is stolen money. I was invited to a bash ya mbirrionaire flani huko rea vipingo, wueh! Guys live large, na hio ni holiday home. Hadi movie theatre.

What is their career or field ? That’s where you start inquisition.

[zedstark]

@Koolibah

Of the 2% 90% is stolen money. I was invited to a bash ya mbirrionaire flani huko rea vipingo, wueh! Guys live large, na hio ni holiday home. Hadi movie theatre.

Vipingo ridge is so exclusive. People without vehicles aren’t allowed through the gates.

[system]

@Quanstrom

Houses were sold for between 90 million and 112 million (Roughly 1 million USD):eek::eek:…the project sold out five months before completion:eek::eek:
People have money wengi wetu ni breadcrumbs tu tunapata. Who buys such? Diplomats? Politicians? Businesspeople?

Weka rink…

[Sitakiupusi]

won’t be surprised if 7/10 of the houses were bought by former/current county governors

[El_Tucci]

After making the first couple of millions; the rest, usually, is a walkover. I’m pretty sure that there are several dollar millionaires who can buy such units without breaking thwir banks

[emali]

@Koolibah

Of the 2% 90% is stolen money

Stolen or not…lakini wako nayo…

[Simiyu22]

@kah tony

if you consider that it is only 10 houses, it is very plausible. 10 out of 40 million.

Most retired professionals can afford that na watu wa diaspora akina @KaBuda na @Swansea.

It is not disporans( at least in the US). This thing about diasporans affordability is a serious illusion. Very few can even liquidate their assets and come up with $100,000. Only 39% of Americans have enough savings to cover a $1,000 emergency. Leave alone $1 million.

https://www.cnbc.com/2018/01/18/few-americans-have-enough-savings-to-cover-a-1000-emergency.html

I will tell you that it is investors or investment companies( and crooks)purchasing these lots.

[system]

@Simiyu22

It is not disporans( at least in the US). This thing about diasporans affordability is a serious illusion. Very few can even liquidate their assets and come up with $100,000. Only 39% of Americans have enough savings to cover a $1,000 emergency. Leave alone $1 million.

https://www.cnbc.com/2018/01/18/few-americans-have-enough-savings-to-cover-a-1000-emergency.html

I will tell you that it is investors or investment companies( and crooks)purchasing these lots.

Wewe uko category gani?

[Quanstrom]

@Kimakia

Weka rink…

Link: https://www.nation.co.ke/business/Cytonn-hands-over-Sh100m-houses-to-Karen-owners/996-4224170-6bkt2qz/index.html