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Could dream of property riches turn into a nightmare few years to come
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Kabush
#1 Posted : Tuesday, July 05, 2011 7:05:26 PM
Rank: Member

Joined: 1/21/2009
Posts: 46
The story in Daily Nation 'Dream of NSE riches turns into nightmare' made me think; could property boom being experienced turn into a nightmare a few years to come?
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Gordon Gekko
#2 Posted : Tuesday, July 05, 2011 7:26:17 PM
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Joined: 5/27/2008
Posts: 3,760
Property boom WILL be a nightmare in a few years to come.
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Cde Monomotapa
#3 Posted : Tuesday, July 05, 2011 8:41:37 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
The same pitch being propagated here was made abroad that, "property can only gain" or "u can't go with real-estate" look where that landed them Laughing out loudly
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karumo
#4 Posted : Tuesday, July 05, 2011 9:38:01 PM
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Joined: 7/2/2011
Posts: 7
yes, it can. real estate is a business like all others and it surely has a time for entry and exit for a wise investor.
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Lolest!
#5 Posted : Tuesday, July 05, 2011 9:52:52 PM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
You still waiting for the burst? Its been a long wait since around 2004. Paradoxically, we wait for the real estate bubble in equal measure as the next stock market bull!!
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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Sufficiently Philanga....thropic
#6 Posted : Tuesday, July 05, 2011 10:50:36 PM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
Gordon Gekko wrote:
Property boom WILL be a nightmare in a few years to come.

Prices already topping off in the upmarket areas!
Keenly waiting and watching how the 2H2011 with its high interest and inflation rates impacts on real estate!
@SufficientlyP
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Horton
#7 Posted : Wednesday, July 06, 2011 1:02:55 AM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
not yet,....have a friend who bought a house in the upmarket are and he is still chuffed that he is getting 8% rental yield and the tenant keeps offering him more money to buy his house out...

im sure it will come soon though a coupla years perhaps??
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Ndaragwa
#8 Posted : Wednesday, July 06, 2011 6:44:36 AM
Rank: Member

Joined: 3/12/2011
Posts: 108
Gordon Gekko wrote:
Property boom WILL be a nightmare in a few years to come.


A unique difference between property boom in Kenya and the US housing burst is that Kenyan boom is being driven by real demand as population grows. Current population growth rate is 2.6% that was preceded by population growth rates that exceeded 3% in the 1960s/70s. It is this population boom (born in the 1960s/70s) that is creating genuine demand for housing/land/plots and is not heavily indebted to crash like the US housing bubble. The US housing bubble was not driven by 'genuine' housing demand. These are very different dynamics such that a property boom crash in Kenya would be mild at worst.
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Mainat
#9 Posted : Wednesday, July 06, 2011 8:09:02 AM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Some sections of the property market are undoubtedly overheating e.g. the apartments in Kile/Kilimani etc. Most other areas are not.

The secret is not to over-leverage yourself...
Sehemu ndio nyumba
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Gordon Gekko
#10 Posted : Wednesday, July 06, 2011 8:20:29 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
Ndaragwa wrote:
Gordon Gekko wrote:
Property boom WILL be a nightmare in a few years to come.


A unique difference between property boom in Kenya and the US housing burst is that Kenyan boom is being driven by real demand as population grows. Current population growth rate is 2.6% that was preceded by population growth rates that exceeded 3% in the 1960s/70s. It is this population boom (born in the 1960s/70s) that is creating genuine demand for housing/land/plots and is not heavily indebted to crash like the US housing bubble. The US housing bubble was not driven by 'genuine' housing demand. These are very different dynamics such that a property boom crash in Kenya would be mild at worst.

Yes, demand is growing, but not in Nairobi. The counties are the next frontier.
At my own small level, the organisation I work for is now planning on moving us to the counties. I know that the biggest employer (Government) is doing the same.
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