I look back at kilimani on the late 90s early 2000 when the apartments started, they were going for a maximum of 3m, and all were four bedroomed spacious on average. Not as crowded as the ones selling right now.
28m is just too high, taste or being able to afford, don’t matter.
Could be, but its just exploitation of the housing market.
same reason why a bazillionea is stingy as ferk,wearing the same crap over and over,driving jalopies and living in a penthouse of one of his apartments or worse still,a semi permanent ramshackle yet they have money in the bank with more zeros than waititu’s exam marks.Hapa ni lanes,if you can afford usijinyime
Early to mid 90s. By the early 2000s the prices had shot up. I got a shock when I saw apartments in riverside for 15m, which I thought was insane. However, the purchasing power of that 3m then is the same as the purchasing power of 28 million today.
The truth is, there is quite a few people with 28 million that are willing to spend it on those apartments. Investors wouldn’t build them if there were no buyers.
Places za kujenga ni mingi sana not just those u have mentioned.still 28m is a lot of cash for an apartment. I would look for a hse along kiambu Rd for starters. Even tatu city they got good well packaged hses.
In my opinion, it only makes sense to buy an apartment for 28M only if you are worth a lot more than that. But if you dont have investments and you are existing on a normal kenyan salary (not a salary like Bob Collymore who makes like 20m per month) and ati you are struggling with mortgage payments for an apartment like that which you will maliza payments in 20years, then you are freaking nuts!
Agreed , Nothing makes sense in kenya the prices some people pay in NBI compared to supporting infrastructure aki!! maji at best twice a week , garbage collection , elec outages even worse if you examine some 100M+ properties in the leafy suburbs , - no sewage, bad roads , no water …
In Kinoo.
Not Kilimani.
How many people can afford this without proceeds of corruption and crime? Frankly guys with clean money hardly invest in such crazy deals.
I take it you’ve not met a lot of guys with a lot of clean money.
Don’t be the type that has been misled to think money exists only in corruption. There are very many genuine Kenyans who make upwards of Sh5 million a month clean business.
Someone dropping a Sh10 - 20 million car can easily splash on this house.
Don’t digress my friend,i have not said there no clean guys.How many friends of yours can splash 10-20 million?
A few. But I don’t have many friends.
But i’m sure none would splash it on a ‘bad’ investment,right? Ata mimi pauper siwezi splash 0.5m nimesweat kusave.
https://www.youtube.com/watch?v=TiTDU8MZRYw
In China they have approximately 60,000,000 un-occuppied apartments in about 25 “ghost cities” (some of the cities are replicas of manhattan, Vegas, they even have a Paris) Yet this cities(most of them) are virtually empty. The property prices are dirt cheap too. [ATTACH=full]190038[/ATTACH] [ATTACH=full]190040[/ATTACH][ATTACH=full]190041[/ATTACH]
Building 28million shillings apartments on a 200-650 million worth plot is a waste(to me…)
Spending is not necessarily on ‘investments’. When you go on holiday, that’s not an investment. When you buy an expensive car, it’s not an investment.
People have an investment budget and a leisure budget.
Kindly send the brochure for the apartment ad to my aide using the address [email protected]. I’m interested in expanding my portfolio of pointless material investments just because I can.
China has many people moving from the countryside into its major cities because about 40% of the population still live in rural areas. 60,million unoccupied apartments will fill up very fast in the next ten years considering more than 200 million people will move into urban areas.
True… I saw somewhere where they stated that their urban population grew by 200 million in the last 10 years
What bamboozles me is :How can they afford to fuel all that development (building - cheap to own - empty cities on one hand) and still ‘finance/loan’ to “SGR and the like projects” especially here in Africa… at the same time.
The finishing in this house is top notch. I don’t think it’s possible to find this kind of quality at a price other than 20 million plus. I wonder if they use the regular mjengo guys making the ugly flats in umoja e.t.c.