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Real Estate in Kenya
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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MugundaMan wrote:Wakanyugi wrote:
Thus speaks the armchair investor. The typical spiel is to criticse but offer no alternatives. I have lost count of the number of times I have made money by reading such so called advise on Wazua and doing the exact opposite.
 Too funny and yet so true, brother! I was one of those who started out a long time ago listening to what I thought was very convincing spiel of "armchair investors" who chided me with harsh tones and waggy fingers about the perils of investing in real estate in Kenya. But when I saw my risk-taker peers minting big time from very modest investments in far flung areas held over time, I got religion fast! No other investment in this here Kenia comes close to matching the stability, safety and consistency of real estate of any form well bought and held over the long term, whether developed or not. Where do you get money to buy real estate? You probably work an 8 to 5 desk job for which you receive a salary at the end of the month (in arrears). You put aside some savings for 5 years, take a sacco loan to buy a 1/8 plot of land at Rongai. How many people do you employ? What your contribution to the economy? Now ask yourself, who is the genius? The person you work for 8-5 or yourself? You sell your empty 1/8 plot in Rongai after 5 years for double the price. You are now a certified genius right? But wait, what would have happened if GOK didn't upgrade that dust road, your neighbours didnt build those nearby schools, nyama choma vibandas, clinics? But wait, why are you working your 8-5 job? I thought your real estate investment made you rich? Now your employer has transferred you to Rongai Branch as the Assistant Manager? Who is the genius, you or your employer? Lesson for the day:- Passive real estate is an investment for the lazy and unimaginative. Life is short. Live passionately.
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Rank: Member Joined: 2/20/2007 Posts: 767
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sparkly wrote:MugundaMan wrote:Wakanyugi wrote:
Thus speaks the armchair investor. The typical spiel is to criticse but offer no alternatives. I have lost count of the number of times I have made money by reading such so called advise on Wazua and doing the exact opposite.
Too funny and yet so true, brother! I was one of those who started out a long time ago listening to what I thought was very convincing spiel of "armchair investors" who chided me with harsh tones and waggy fingers about the perils of investing in real estate in Kenya. But when I saw my risk-taker peers minting big time from very modest investments in far flung areas held over time, I got religion fast! No other investment in this here Kenia comes close to matching the stability, safety and consistency of real estate of any form well bought and held over the long term, whether developed or not. Where do you get money to buy real estate? You probably work an 8 to 5 desk job for which you receive a salary at the end of the month (in arrears). You put aside some savings for 5 years, take a sacco loan to buy a 1/8 plot of land at Rongai. How many people do you employ? What your contribution to the economy? Now ask yourself, who is the genius? The person you work for 8-5 or yourself? You sell your empty 1/8 plot in Rongai after 5 years for double the price. You are now a certified genius right? But wait, what would have happened if GOK didn't upgrade that dust road, your neighbours didnt build those nearby schools, nyama choma vibandas, clinics? But wait, why are you working your 8-5 job? I thought your real estate investment made you rich? Now your employer has transferred you to Rongai Branch as the Assistant Manager? Who is the genius, you or your employer? Lesson for the day:- Passive real estate is an investment for the lazy and unimaginative. Kweli kabisa @ sparkly. It is a sad state of affairs that people think buying a kaplot to sell at a later date = stellar investment acumen. This kind of investment leaves most people poor in the long run, paper rich and cash poor. Things would be ironed out if only our lazy bonehead politicians would introduce a land tax so that only people who actually intend to generate a regular return from the land will be willing to buy land. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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sparkly wrote:
Where do you get money to buy real estate? You probably work an 8 to 5 desk job for which you receive a salary at the end of the month (in arrears).
You put aside some savings for 5 years, take a sacco loan to buy a 1/8 plot of land at Rongai. How many people do you employ? What your contribution to the economy?
Now ask yourself, who is the genius? The person you work for 8-5 or yourself?
You sell your empty 1/8 plot in Rongai after 5 years for double the price. You are now a certified genius right?
But wait, what would have happened if GOK didn't upgrade that dust road, your neighbours didnt build those nearby schools, nyama choma vibandas, clinics?
But wait, why are you working your 8-5 job? I thought your real estate investment made you rich? Now your employer has transferred you to Rongai Branch as the Assistant Manager? Who is the genius, you or your employer?
Lesson for the day:- Passive real estate is an investment for the lazy and unimaginative.
If you have to grope in the dark seeking answers to some of these questions then clearly you are not cut out for real estate, brother. Just mark time hapo hapo waiting for Godot, munching your "safe" payslip nation paycheck monthly 
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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Superwoman910 wrote:Superprime1 wrote:What type/kind of an investment in real estate? Is it rental income-generating commercial or residential property/ies? Or are you intending to buy land and hold to sell in future? And which market segment are you interested in or focused on? BTW, buying Stanlib Fahari I-Reit is another way of investing in real estate.... I think rental (residential) is the best way to go. Cytonn has some pretty good looking properties that are also affordable (in Ridgeways and Ruaka). Just want to make sure it is the absolute best decision before investing with them You have to forward thinking in real estate to make the right investment. If you look at the traffic projections for Nairobi 2030 it will not make sense to live far from CBD. Ruaka is a horribly planned settlement you won't like that neighborhood in 15-20 years. Check google maps if you doubt
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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MugundaMan wrote:If you have to grope in the dark seeking answers to some of these questions then clearly you are not cut out for real estate, brother. Just mark time hapo hapo waiting for Godot, munching your "safe" payslip nation paycheck monthly Buying empty lots in the Kajiado dust bowls  .
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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wukan wrote:MugundaMan wrote:If you have to grope in the dark seeking answers to some of these questions then clearly you are not cut out for real estate, brother. Just mark time hapo hapo waiting for Godot, munching your "safe" payslip nation paycheck monthly Buying empty lots in the Kajiado dust bowls . Absolutely. But did you forget that dust from Uhuru Hwy is heaviest in your cramped CBD office where the modern slavery for the boss is no joke and the crumbs gleaned are heavily taxed and marginal at best ?
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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wukan wrote:Superwoman910 wrote:Superprime1 wrote:What type/kind of an investment in real estate? Is it rental income-generating commercial or residential property/ies? Or are you intending to buy land and hold to sell in future? And which market segment are you interested in or focused on? BTW, buying Stanlib Fahari I-Reit is another way of investing in real estate.... I think rental (residential) is the best way to go. Cytonn has some pretty good looking properties that are also affordable (in Ridgeways and Ruaka). Just want to make sure it is the absolute best decision before investing with them You have to forward thinking in real estate to make the right investment. If you look at the traffic projections for Nairobi 2030 it will not make sense to live far from CBD. Ruaka is a horribly planned settlement you won't like that neighborhood in 15-20 years. Check google maps if you doubt And there lies the most important factor in real estate investments. As the platitude goes, real estate is about location, location, location. If i was to buy a plot in Ruaka today, i will build a Umoja-kayole-githurai-pipeline-mwiki-mathare north-roy sambu-style apartment because that what Ruaka is....an over-glorified slum. Unfortunately, that is the reality across the country.The government of kikuyus and other greedy tribes has left wanjiku(taxpayers) at the mercy of dumb greedy kikuyus (and other greedy tribes) landlords. We have wazuans here dreaming of squeezing 60 one-bedroom houses on 33 by 66 feet plots in residential flats of 6 floors. These are Houses without natural light(sunlight) which denies children of vitamin D leading to health complications such as iron-deficiency, pneumonia, tuberculosis, meningitis etc. To top it all, since all the greedy landlords(kikuyus and others) have planted their 30 by 60 apartments wall-to-wall, there are no playing fields and recreation areas for Kenyas future generation therefore, we read of stories of kids turning roy-sambu flyover and other risky places into a playing fields.Let me not even talk of how much rent these greedy ilk is raking from poor helpless and hapless wanjiku for such hujuma ya hali ya juu. Only proper urban- planning and zoning will stop this madness and this require serious government policy. When Pope Francis visited Kangemi and saw human beings living like pigs in tin-shacks defecating on juala and hauling the contents on rooftops, he told Uhuru that Kenyan mabwenyenye greed will be our(Kenyan) undoing.Perhaps, this observation by the pope is what inspired Uhuru to build proper houses for wananchi, but as things stand, these affordable houses might never see light of day, reason being that ground breaking that was meant to be in May huko parkroad/Jericho/mbotela estate did not happen and now we are headed to July and what we see on tv is an overated PS of housing speaking kizungu mingi but hakuna kitu inaendelea... Anyway, real estate is a good investment. But i recommend you build houses even you yourself can live in complete with thorough consideration of innocent Kenyan children, persons living with disabilities and the elderly. Hii mabo ya kujenga nyumba ya gorofa bila dirisha na ground floor ni ma wines and spirits tuwache jameni...ama namna gani jamma? Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Fyatu wrote:wukan wrote:Superwoman910 wrote:Superprime1 wrote:What type/kind of an investment in real estate? Is it rental income-generating commercial or residential property/ies? Or are you intending to buy land and hold to sell in future? And which market segment are you interested in or focused on? BTW, buying Stanlib Fahari I-Reit is another way of investing in real estate.... I think rental (residential) is the best way to go. Cytonn has some pretty good looking properties that are also affordable (in Ridgeways and Ruaka). Just want to make sure it is the absolute best decision before investing with them You have to forward thinking in real estate to make the right investment. If you look at the traffic projections for Nairobi 2030 it will not make sense to live far from CBD. Ruaka is a horribly planned settlement you won't like that neighborhood in 15-20 years. Check google maps if you doubt And there lies the most important factor in real estate investments. As the platitude goes, real estate is about location, location, location. If i was to buy a plot in Ruaka today, i will build a Umoja-kayole-githurai-pipeline-mwiki-mathare north-roy sambu-style apartment because that what Ruaka is....an over-glorified slum. Unfortunately, that is the reality across the country.The government of kikuyus and other greedy tribes has left wanjiku(taxpayers) at the mercy of dumb greedy kikuyus (and other greedy tribes) landlords. We have wazuans here dreaming of squeezing 60 one-bedroom houses on 33 by 66 feet plots in residential flats of 6 floors. These are Houses without natural light(sunlight) which denies children of vitamin D leading to health complications such as iron-deficiency, pneumonia, tuberculosis, meningitis etc. To top it all, since all the greedy landlords(kikuyus and others) have planted their 30 by 60 apartments wall-to-wall, there are no playing fields and recreation areas for Kenyas future generation therefore, we read of stories of kids turning roy-sambu flyover and other risky places into a playing fields.Let me not even talk of how much rent these greedy ilk is raking from poor helpless and hapless wanjiku for such hujuma ya hali ya juu. Only proper urban- planning and zoning will stop this madness and this require serious government policy. When Pope Francis visited Kangemi and saw human beings living like pigs in tin-shacks defecating on juala and hauling the contents on rooftops, he told Uhuru that Kenyan mabwenyenye greed will be our(Kenyan) undoing.Perhaps, this observation by the pope is what inspired Uhuru to build proper houses for wananchi, but as things stand, these affordable houses might never see light of day, reason being that ground breaking that was meant to be in May huko parkroad/Jericho/mbotela estate did not happen and now we are headed to July and what we see on tv is an overated PS of housing speaking kizungu mingi but hakuna kitu inaendelea... Anyway, real estate is a good investment. But i recommend you build houses even you yourself can live in complete with thorough consideration of innocent Kenyan children, persons living with disabilities and the elderly. Hii mabo ya kujenga nyumba ya gorofa bila dirisha na ground floor ni ma wines and spirits tuwache jameni...ama namna gani jamma?  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 9/27/2006 Posts: 503
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Not to deter the discussion so far, but how would one go about buying land along the LAPSSET corridor?
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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sparkly wrote:MugundaMan wrote:Wakanyugi wrote:
Thus speaks the armchair investor. The typical spiel is to criticse but offer no alternatives. I have lost count of the number of times I have made money by reading such so called advise on Wazua and doing the exact opposite.
Too funny and yet so true, brother! I was one of those who started out a long time ago listening to what I thought was very convincing spiel of "armchair investors" who chided me with harsh tones and waggy fingers about the perils of investing in real estate in Kenya. But when I saw my risk-taker peers minting big time from very modest investments in far flung areas held over time, I got religion fast! No other investment in this here Kenia comes close to matching the stability, safety and consistency of real estate of any form well bought and held over the long term, whether developed or not. Where do you get money to buy real estate? You probably work an 8 to 5 desk job for which you receive a salary at the end of the month (in arrears).- Where do people who don't invest in real estate get their money from? NYS? You put aside some savings for 5 years, take a sacco loan to buy a 1/8 plot of land at Rongai. How many people do you employ? What your contribution to the economy? - This is very narrow thinking, contribution to teh economy doesn't need to be linked to employment.Most business in Kenyan thrive on real estate, vibandas, wines and spirits,schools,clinics,cement.Now ask yourself, who is the genius? The person you work for 8-5 or yourself? Myself, through my real estate, I have created business opportunities for schools, butcheries, bars, prostitution etcYou sell your empty 1/8 plot in Rongai after 5 years for double the price. You are now a certified genius right? Isn't that what every biz does, buy low sell high? Even mama mboga understands this conceptBut wait, what would have happened if GOK didn't upgrade that dust road, your neighbours didnt build those nearby schools, nyama choma vibandas, clinics? They wouldn't have bought the land in the first place It's government responsibility to build roads, sewage lines, provide water all over KenyaBut wait, why are you working your 8-5 job? I thought your real estate investment made you rich? Now your employer has transferred you to Rongai Branch as the Assistant Manager? Who is the genius, you or your employer? How many branches have you opened for your biz considering that you are the genius who has not invested in real estate.Is your office based in cloud, do you live in trees ama the people who built the office and house you are renting/bought were dimwits?Lesson for the day:- Passive real estate is an investment for the lazy and unimaginative. Lesson of life: Thinking RATIONALLY is free If Obiero did it, Who Am I?
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Rank: Member Joined: 1/30/2011 Posts: 207
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Rank: Member Joined: 6/22/2011 Posts: 561 Location: House
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Rank: Member Joined: 1/30/2011 Posts: 207
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Ngogoyo, thank you for the piece... I was asking for a friend...
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Rank: New-farer Joined: 6/27/2011 Posts: 63
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wukan wrote:Superwoman910 wrote:Hi Wazuans,
I am thinking of investing in the real estate sector. The thing is that there is a lot of mix up from reports about its current status, i.e., whether the returns are good and worth it, or not.
What do you guys think? Real estate in kenya is the accumulation of dead assets in the hope it will serve you at a later date. You will rarely get to unlock its full potential in your lifetime(maybe your kids will). It is capital intensive and the returns are only marginally higher than inflation. 5-7% rental yield maybe 5% capital gains. The upkeep of real estate is also expensive. The lack of planning and development control also means you may end up in a slum like neighborhood or a place that resembles a prison/concentration camp(barbed wire, guards and dogs). The current status looks like the tail end of a boom cycle most landlords are not getting the asking rent, lots of vacancies in retail and commercial space and defaulting tenants. However Kenyan real estate has lots of potential most of the land is under-developed and underutilized. The biggest problem with Kenyan real estate is the lack of data to objectively analyse returns. Claiming yields are 5-7% is over simplifying the issue. Real estate returns vary wildly between sectors. My suspicion is that for commercial grade investments, the malls, office space etc, the risk adjusted returns would be rather low and unlikely to keep up with or beat inflation. However, sectors such as short term rentals, and low income resi would likely outperform any equity portfolio there is. Personally, have some rental property generating net rental yields in excess of 20% with very little volatility in the rental income over lat 4 years. My risk adjusted returns are off the charts to say the least. However, I do note that real estate is also very cyclical and supply tends to overshoot demand. ie When there is great demand for real estate, it takes a while for the stock to be developed and delivered to market. Most investors will view this demand in isolation of the stock being developed and will they themselves start creating their own stock. When the supply finally hits the market, there is oversupply leading to a down cycle. Eventually, the demand will match supply and the cycle repeats. If you know how to read these cycles, you can do really well.\ That being said, research shows that the real estate should constitute at least 40% of a diversified portfolio consisting of equities bonds etc.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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guru me wrote:wukan wrote:Superwoman910 wrote:Hi Wazuans,
I am thinking of investing in the real estate sector. The thing is that there is a lot of mix up from reports about its current status, i.e., whether the returns are good and worth it, or not.
What do you guys think? Real estate in kenya is the accumulation of dead assets in the hope it will serve you at a later date. You will rarely get to unlock its full potential in your lifetime(maybe your kids will). It is capital intensive and the returns are only marginally higher than inflation. 5-7% rental yield maybe 5% capital gains. The upkeep of real estate is also expensive. The lack of planning and development control also means you may end up in a slum like neighborhood or a place that resembles a prison/concentration camp(barbed wire, guards and dogs). The current status looks like the tail end of a boom cycle most landlords are not getting the asking rent, lots of vacancies in retail and commercial space and defaulting tenants. However Kenyan real estate has lots of potential most of the land is under-developed and underutilized. The biggest problem with Kenyan real estate is the lack of data to objectively analyse returns. Claiming yields are 5-7% is over simplifying the issue. Real estate returns vary wildly between sectors. My suspicion is that for commercial grade investments, the malls, office space etc, the risk adjusted returns would be rather low and unlikely to keep up with or beat inflation. However, sectors such as short term rentals, and low income resi would likely outperform any equity portfolio there is. Personally, have some rental property generating net rental yields in excess of 20% with very little volatility in the rental income over lat 4 years. My risk adjusted returns are off the charts to say the least. However, I do note that real estate is also very cyclical and supply tends to overshoot demand. ie When there is great demand for real estate, it takes a while for the stock to be developed and delivered to market. Most investors will view this demand in isolation of the stock being developed and will they themselves start creating their own stock. When the supply finally hits the market, there is oversupply leading to a down cycle. Eventually, the demand will match supply and the cycle repeats. If you know how to read these cycles, you can do really well.\ That being said, research shows that the real estate should constitute at least 40% of a diversified portfolio consisting of equities bonds etc. Over 20% where in this economy?? unless you are calculating using historic values or doing the low income areas. A decent middle-class apartment of 7.5m will give monthly rental of 40K which is really 6% yield(over 20% yield means monthly rent of over 125,000 ). Even the serviced offices usually come to around 12-14% yield which really the yield on a long term GoK bond. Low income residential where you can lose the houses and the land is not exactly investment. The resale value after 20 years will shock you. The real estate cycles are the economic cycles. If you demand yield of over 20% the economy cannot sustain it.
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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wukan wrote:guru me wrote:wukan wrote:Superwoman910 wrote:Hi Wazuans,
I am thinking of investing in the real estate sector. The thing is that there is a lot of mix up from reports about its current status, i.e., whether the returns are good and worth it, or not.
What do you guys think? Real estate in kenya is the accumulation of dead assets in the hope it will serve you at a later date. You will rarely get to unlock its full potential in your lifetime(maybe your kids will). It is capital intensive and the returns are only marginally higher than inflation. 5-7% rental yield maybe 5% capital gains. The upkeep of real estate is also expensive. The lack of planning and development control also means you may end up in a slum like neighborhood or a place that resembles a prison/concentration camp(barbed wire, guards and dogs). The current status looks like the tail end of a boom cycle most landlords are not getting the asking rent, lots of vacancies in retail and commercial space and defaulting tenants. However Kenyan real estate has lots of potential most of the land is under-developed and underutilized. The biggest problem with Kenyan real estate is the lack of data to objectively analyse returns. Claiming yields are 5-7% is over simplifying the issue. Real estate returns vary wildly between sectors. My suspicion is that for commercial grade investments, the malls, office space etc, the risk adjusted returns would be rather low and unlikely to keep up with or beat inflation. However, sectors such as short term rentals, and low income resi would likely outperform any equity portfolio there is. Personally, have some rental property generating net rental yields in excess of 20% with very little volatility in the rental income over lat 4 years. My risk adjusted returns are off the charts to say the least. However, I do note that real estate is also very cyclical and supply tends to overshoot demand. ie When there is great demand for real estate, it takes a while for the stock to be developed and delivered to market. Most investors will view this demand in isolation of the stock being developed and will they themselves start creating their own stock. When the supply finally hits the market, there is oversupply leading to a down cycle. Eventually, the demand will match supply and the cycle repeats. If you know how to read these cycles, you can do really well.\ That being said, research shows that the real estate should constitute at least 40% of a diversified portfolio consisting of equities bonds etc. Over 20% where in this economy?? unless you are calculating using historic values or doing the low income areas. A decent middle-class apartment of 7.5m will give monthly rental of 40K which is really 6% yield(over 20% yield means monthly rent of over 125,000 ). Even the serviced offices usually come to around 12-14% yield which really the yield on a long term GoK bond. Low income residential where you can lose the houses and the land is not exactly investment. The resale value after 20 years will shock you. The real estate cycles are the economic cycles. If you demand yield of over 20% the economy cannot sustain it. Hapo, umendanganya mercilessly. Who are you trying to hoodwink, your young bro ndio msifanane ama.  . Simple math. Let 30% of your capital goes to land, =>7.5*0.3=2.25m very reasonable Balance construct =5.25m Construct bedsitters @ 200k all inclusive Total units=5250/200 Say 26units Let each out at say optimistic @ 3500/= totaling 26*3500=91 clean gs hata uko kwenu ushagu utapata hiyo Most likely 6500/ nairobi uko mwiki ama kasa Totalling 169 sparkling Gs Very pessimistic 12000/ buruuuu totalling 312gs, happy mca wa mburoti kwako. Nini wewe @wukan. Kwenu ni wabi hata hesabu ya mburoti inakugweza.  Typically, a two bedroom apartment will measure 60 to 100sm, say 80sm, with a modest finishing this will cost 20k each sm such say to rent @ 30k in a modest estate. Pinching the figures down on my Casio scientifically🤒🤒😂😎 gives me 7,500,000/(80*20000)units*30,000 a month totalling 140,625.0/=post kugwaruzwa na fundi. Ety wukan uko shule gani ya hizi hesabu za present future cash flows hile sielewi. 7.5m hiyo sio modest apartment, even the market price for an apartment ukiwa umegongwa, iko chini tu. ,Behold, a sower went forth to sow;....
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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You missed the discussion with @Mugundaman worth repeating... Quote:But the reasons why I rejected this route
1. Slummification of entire neighbourhoods (and cities) starts with these buildings. Look at Umoja. Note exactly a great place to raise kids and live a decent life. Some of those apartments are like modern day tombs! Kenyans deserve better. This is why I laud Uhuru's low cost housing agenda. Quality subsidised homes for all.
2. Headaches to the landlord galore. general security issues, Tenant to tenant crime may be rife, eviction problems, blocked drains due to tenants pouring all sorts of plastics and things into the drains, vandalism and constant repairs are no joke. It is as management intensive as it gets and my life is too short to spend all my hours managing all these problems.
3. Cap gains are much lower per annum for these types of structures. What you gain in cash flows you lose big time in cap gains compared to say a guy who buys a 1/4 acre in a leafy area and builds a huge maisonette on it.
Bottom line, I would take decent 2br and 3 br flats, as well as 4+ br maisonettes any day over 1br blocks of flats despite the cash flows. Kenyans, seriously ask yourselves, do we want the whole country to look like this (below). If we are not careful, bila planning, that is the direction we are headed in. Where in Nairobi is Mwiki?
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Where in Nairobi can you 'buy/built' a house/flat for Kshs. 7.5m and get rent of 40k? Which neighborhood is that? In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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Angelica _ann wrote:Where in Nairobi can you 'buy/built' a house/flat for Kshs. 7.5m and get rent of 40k? Which neighborhood is that? I was illustrating yield not marketing a particular real estate. Anyway since you asked Quote: A mixed use building with unique studio furnished apartments with stylish interiors and furnishings. These beautiful apartments are a vision of modern originality. The apartments are equipped with a spacious bedroom space designed to be a peaceful retreat for your next stay in Nairobi Kenya. Its an ideal opportunity for an investor to earn a good return on their investment.
Location: Kirinyaga Road
Apartments: 63 Studio apartments
Features: high quality Kone lift, large water reserves, fire detection, the apartments are also on a 24-hour alarm backup with CCTV surveillance.
Price: Studio apartment 5M
Rental Income: Kshs. 40,000 unfurnished.
Kshs. 50,000 furnished.
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Rank: Veteran Joined: 7/3/2007 Posts: 1,634
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Angelica _ann wrote:Where in Nairobi can you 'buy/built' a house/flat for Kshs. 7.5m and get rent of 40k? Which neighborhood is that? Hi ni gumu kidogo and returns usually depend on local demand which is hard to generalize. For instance I know a company in Kibiku that builds 3 bed maisonettes for around 7.5M and the rent is 40K. But this is a factor of the demand brought about by the Shinese constructing the SGR. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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