That is fourways junction on Kiambu road .They are still ugly though .The house in question are not so bad looking .Contemporary designs and finishes
I can gurantee you there is nothing special about the houses i have realatives who bought off plan .
Kabisa, their business plan was too heavy on loans without the corresponding high sales to provide sufficient cover. It didn’t also help that they sold their units at a premium. Their initial success in their first few projects made them greedy. If you borrow billions to build a project, build fast and sell fast. If you start diverting one loan cash for 1 project to start two others and hope sales will simultaneously do all three, then you will be burnt. The construction slowed and prospective buyers realized its a long way off to park +20 million in units 24 months away from finish. If they could clearly see it would be ready in under a year then some would invest.
8m is on the higher side, 4.5 -5m.
clearly you’ve never been in an advertising class
Atsiiiii! Hii inapita boss. 7.5 - 8m
Kwani ni prefabs na hatuoni?
Nope.
Will it affect those who already bought those houses, asking on behalf of someone very close to me?
I am praying for the bubble to burst so that I can buy those bungalows for 1m
Last time i checked they were going for 52 mirrion shillings but the rent is good.
Breakdown ya hio 7.5m…
Weka hapa…
When the bubble finally bursts a lot of people who acquired such overpriced properties via morgates will slide into negative equity. These people will owe the bank more than they value of their home.
Just double the cost of interiors. Unless wewe ni miser unaweka chinise substandard finishes or you know you’re not going to live in that house
Just the other day I asked about the big sale by Housing Finance. It is clear that the property market is cooling. The real estate market corrects like all other markets, only that it isn’t noticeable like stocks etc. In Kenya, there is a correction. A correction in real estate means that prices move sideways for a long time, and developers have difficulties selling. Don’t expect property prices to fall, but you can comfortably postpone any investment plans to next year or 2021 and you won’t lose out on much. If you see a house being sold today, there is a decent chance that it will go for the same price for the next 2-3 years.
lol. how good to give a decent ROI?
The bubble bursts daily for people who buy houses over 10 million, and the maximum rent you can get there is 65k. The bubble is bursting daily for people buying in gated communities, and you have no rights, you have to build the plans they give you, and you can’t bring visitors to your house, you can’t hold a party for your daughter there. 10 years kila mtu ako na kashop kwa estate, na watoto wa watu wanazunguka gated community wakitombwa. Bubble is bursting daily for people buying 96 square metres za NHC over 8 million.
Know someone who’s getting paid quarterly @ 300k per month,kuna nyumba zake spring valley aliringa last year alitaka rent to be paid six months upfront sikakosa wateja,rent ilikuwa 350 per month.
As far as I am concerned Suraya will never go bust. They started looking aafter thieving wadosi zamani sana kina Nat Kang’ethe, JB Karugu and many others. Peter notes where the prime title deeds for the prime properties are hidden.
so at 52 million atarudisha pesa in 14 years assuming continous occupancy
You do realise that people who can pay 300k a month in rent are a handful as to be statistically insignificant?