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Riat hills Kisumu, Did i pay too much?
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Rapudox
#1 Posted : Friday, December 31, 2010 12:32:47 PM
Rank: New-farer

Joined: 12/30/2010
Posts: 65
Location: Europe
Hey Everybody,
After many months of following the very interesting discussions & analyses, I finally registered. I have come to the conclusion that this is one of the most informative sites for kenyan investors, esp. in the diaspora! I also finally decided to risk & invest in Land. I managed to get 0,5 acres at Riat hills a month ago with a very beautiful view of the lake & the city for 2M Kshs, clean title. After reading many forums on the internet i started getting the gut feeling that i could have been overcharged. What do you guys think, was it overpriced or was this amount reasonable for a place like Riat hills?
I will be grateful for any input. Happy new new yr.
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The Merchant
#2 Posted : Friday, December 31, 2010 1:08:01 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
If you like it and the view of the lake then you were not overcharged. Surely if the pice of land attracted your attention and you paid that much for it then someone else will find the same value in it. Brush of that buyer's remorse and have a great new year!
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My 2 cents
#3 Posted : Friday, December 31, 2010 1:21:43 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,091
I think you got a good deal.
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wairegi
#4 Posted : Friday, December 31, 2010 2:01:01 PM
Rank: Member

Joined: 6/4/2007
Posts: 215
Depends on so many others issues.. nearness to the roads, water, Sewarage line, electricity e.t.c

but that much would have given you an acre
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peep
#5 Posted : Friday, December 31, 2010 4:04:34 PM
Rank: Member

Joined: 3/30/2009
Posts: 56
Also depends on how far away you are from that slum. i.e. Riara Road at the Kawangware end is not equal to the St Hannahs School end.
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Rapudox
#6 Posted : Friday, December 31, 2010 4:37:56 PM
Rank: New-farer

Joined: 12/30/2010
Posts: 65
Location: Europe
Thanx Guys,
Actually its not near a slum. There are only new big houses and villas in that area. The road is rudimentary. Being on the hill, there is no sewage or piped water but there is an electric pole in the area up the hill.@Wareigi: have u been to Riat hills before? why do you suppose i may have been able to get an acre?
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Impunity
#7 Posted : Friday, December 31, 2010 5:49:48 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
peep wrote:
Also depends on how far away you are from that slum. i.e. Riara Road at the Kawangware end is not equal to the St Hannahs School end.


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

@peep, Riat is not near Ongwaro!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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money maker 2
#8 Posted : Friday, December 31, 2010 6:44:44 PM
Rank: New-farer

Joined: 11/25/2010
Posts: 5
Location: Nairobi
Based on location, you got a good deal.Think of it as an investment .The price you paid a month ago will have increased in a year.Sometimes you have to buy high to get the location that you desire.
HARD WORK BEATS TALENT WHEN TALENT FAILS TO WORK HARD
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Dod
#9 Posted : Friday, December 31, 2010 6:48:29 PM
Rank: Member

Joined: 10/4/2010
Posts: 223
Location: Afghanistan
peep wrote:
Also depends on how far away you are from that slum. i.e. Riara Road at the Kawangware end is not equal to the St Hannahs School end.


Laughing out loudly Laughing out loudly Laughing out loudly
Riat is in Kisumu City..

The current rates are about 800k per quarter acre on the higher side.
The rich have money working for them; the poor and the middle class are going to work for money.
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wairegi
#10 Posted : Friday, December 31, 2010 7:02:07 PM
Rank: Member

Joined: 6/4/2007
Posts: 215
....@Wareigi: have u been to Riat hills before? why do you suppose i may have been able to get an acre?

have been working in kisumu and had interest plots and e.t.c. Still in contact with people selling and can tell for sure that the rate is as indicated elsewhere 800K for 0.25 of a ac. But not matter how much youpay for land it is never too much.
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