madhaquer wrote:I feel 5.25m for a 2br and 1/12th of an acre is Expensive.
Some questions we must ask:
What are the rates for 1/4 in Ruai ?
How much would it cost to build a similar perhaps slightly bigger house ?
What we must acknowledge:
Kenyans love the phrase 'gated community'. To some of us this means security and predictability. And that sells
@madhaquer...very true..gated community concept sells..i have never actually been able to understand what drives this.
I did a housing estate in Syokimau last year [As a Developer] and sold it for 5m.
When new inquiries came, i asked them to buy neighbouring 1/8th land then i design[same design, same location] and manage their construction projects, resulting in a kes 1m savings for them.
To my surprise, none opted for this solution-they would rather i buy the land myself, develop the houses and sell to them and make the 1m profit by myself.
In me acting as architect/project manager, i will get profits in term of consultancy fee-less money but with less huddles e.g cost of buying land, borrowing e.t.c.
In me acting as a developer, i will get more money but more huddles e.g cost of buying land, advertising, borrowing e.t.c
I guess Kenyans are more than willing to pay dearly for security and predictability..
As Iron Sharpens Iron, So one Man Sharpens Another.