Wazua
»
Investor
»
Property
»
Low End Housing: High Risk, High Return
Rank: Elder Joined: 6/23/2009 Posts: 13,859 Location: nairobi
|
jamplu wrote:Unless mavoko changes their regulations in all zones within syokimau and allows you to do more than 4 units its just impossible to do anything less than 7M. KCAA will also be on you if you go beyond 3rd floor in some areas of syokimau. Affordable housing will actually only work towards Kangundo, Isinya, Loitokitok etc
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 804,000 ABP 6.26; MTN 23,800 ABP 5.20
|
|
|
Rank: Member Joined: 11/15/2010 Posts: 455 Location: Nairobi
|
obiero wrote:jamplu wrote:Unless mavoko changes their regulations in all zones within syokimau and allows you to do more than 4 units its just impossible to do anything less than 7M. KCAA will also be on you if you go beyond 3rd floor in some areas of syokimau. Affordable housing will actually only work towards Kangundo, Isinya, Loitokitok etc You can't write Kangundo and Loitokitok in same statement. it is 286 KM from Nairobi City. ....He who began a good work in you will carry it on to completion..
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,859 Location: nairobi
|
tinker wrote:obiero wrote:jamplu wrote:Unless mavoko changes their regulations in all zones within syokimau and allows you to do more than 4 units its just impossible to do anything less than 7M. KCAA will also be on you if you go beyond 3rd floor in some areas of syokimau. Affordable housing will actually only work towards Kangundo, Isinya, Loitokitok etc You can't write Kangundo and Loitokitok in same statement. it is 286 KM from Nairobi City. Hata huko kuna watu wanaishi bana
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 804,000 ABP 6.26; MTN 23,800 ABP 5.20
|
|
|
Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
|
nairobby wrote:MugundaMan wrote:hardwood wrote:Selling a 25sqm single room at 3m is the biggest con ever since it translates to 120,000 Bob per sqm while cost of construction is 25k per m2. Ksh 3m can build you a 3bdrm house elsewhere. Also I thought all county approvals are for minimum 1bdr units, (like visionary kabogo recommended) lest we end up with high rise slums.  You are crushing nairobby-wukan's dreams boss! Karibu homes Mutongoni road Athi River ni kengine. Those "homes" are 3m but if you stretch your arms you can literally touch opposite walls at once. This is why DC is the future. Wide open spaces and huge homes for a fraction of the cost per sqm and half of Nairobi is already there so amenities are fast catching up! Those Kitengela homes going for 8/9m are fetching 35k rent. That's very poor. Looking at it from a rental play perspective these studios are a much better investment and have ready demand for them. What do they mean by 45 years sublease? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,859 Location: nairobi
|
Impunity wrote:nairobby wrote:MugundaMan wrote:hardwood wrote:Selling a 25sqm single room at 3m is the biggest con ever since it translates to 120,000 Bob per sqm while cost of construction is 25k per m2. Ksh 3m can build you a 3bdrm house elsewhere. Also I thought all county approvals are for minimum 1bdr units, (like visionary kabogo recommended) lest we end up with high rise slums. You are crushing nairobby-wukan's dreams boss! Karibu homes Mutongoni road Athi River ni kengine. Those "homes" are 3m but if you stretch your arms you can literally touch opposite walls at once. This is why DC is the future. Wide open spaces and huge homes for a fraction of the cost per sqm and half of Nairobi is already there so amenities are fast catching up! Those Kitengela homes going for 8/9m are fetching 35k rent. That's very poor. Looking at it from a rental play perspective these studios are a much better investment and have ready demand for them. What do they mean by 45 years sublease? Could it be that they are leasing from a lessor
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 804,000 ABP 6.26; MTN 23,800 ABP 5.20
|
|
|
Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
|
obiero wrote:Impunity wrote:nairobby wrote:MugundaMan wrote:hardwood wrote:Selling a 25sqm single room at 3m is the biggest con ever since it translates to 120,000 Bob per sqm while cost of construction is 25k per m2. Ksh 3m can build you a 3bdrm house elsewhere. Also I thought all county approvals are for minimum 1bdr units, (like visionary kabogo recommended) lest we end up with high rise slums. You are crushing nairobby-wukan's dreams boss! Karibu homes Mutongoni road Athi River ni kengine. Those "homes" are 3m but if you stretch your arms you can literally touch opposite walls at once. This is why DC is the future. Wide open spaces and huge homes for a fraction of the cost per sqm and half of Nairobi is already there so amenities are fast catching up! Those Kitengela homes going for 8/9m are fetching 35k rent. That's very poor. Looking at it from a rental play perspective these studios are a much better investment and have ready demand for them. What do they mean by 45 years sublease? Could it be that they are leasing from a lessor After 45 years what happens to my kids? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
|
|
|
Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
|
Impunity wrote:obiero wrote:Impunity wrote:nairobby wrote:MugundaMan wrote:hardwood wrote:Selling a 25sqm single room at 3m is the biggest con ever since it translates to 120,000 Bob per sqm while cost of construction is 25k per m2. Ksh 3m can build you a 3bdrm house elsewhere. Also I thought all county approvals are for minimum 1bdr units, (like visionary kabogo recommended) lest we end up with high rise slums. You are crushing nairobby-wukan's dreams boss! Karibu homes Mutongoni road Athi River ni kengine. Those "homes" are 3m but if you stretch your arms you can literally touch opposite walls at once. This is why DC is the future. Wide open spaces and huge homes for a fraction of the cost per sqm and half of Nairobi is already there so amenities are fast catching up! Those Kitengela homes going for 8/9m are fetching 35k rent. That's very poor. Looking at it from a rental play perspective these studios are a much better investment and have ready demand for them. What do they mean by 45 years sublease? Could it be that they are leasing from a lessor After 45 years what happens to my kids? Your kids will be kicked out after the sublease ends and the flat sold to someone else.
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,859 Location: nairobi
|
hardwood wrote:Impunity wrote:obiero wrote:Impunity wrote:nairobby wrote:MugundaMan wrote:hardwood wrote:Selling a 25sqm single room at 3m is the biggest con ever since it translates to 120,000 Bob per sqm while cost of construction is 25k per m2. Ksh 3m can build you a 3bdrm house elsewhere. Also I thought all county approvals are for minimum 1bdr units, (like visionary kabogo recommended) lest we end up with high rise slums. You are crushing nairobby-wukan's dreams boss! Karibu homes Mutongoni road Athi River ni kengine. Those "homes" are 3m but if you stretch your arms you can literally touch opposite walls at once. This is why DC is the future. Wide open spaces and huge homes for a fraction of the cost per sqm and half of Nairobi is already there so amenities are fast catching up! Those Kitengela homes going for 8/9m are fetching 35k rent. That's very poor. Looking at it from a rental play perspective these studios are a much better investment and have ready demand for them. What do they mean by 45 years sublease? Could it be that they are leasing from a lessor After 45 years what happens to my kids? Your kids will be kicked out after the sublease ends and the flat sold to someone else. But in law, the current occupant will be given first priority to place a bid
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 804,000 ABP 6.26; MTN 23,800 ABP 5.20
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,859 Location: nairobi
|
hardwood wrote:Impunity wrote:obiero wrote:Impunity wrote:nairobby wrote:MugundaMan wrote:hardwood wrote:Selling a 25sqm single room at 3m is the biggest con ever since it translates to 120,000 Bob per sqm while cost of construction is 25k per m2. Ksh 3m can build you a 3bdrm house elsewhere. Also I thought all county approvals are for minimum 1bdr units, (like visionary kabogo recommended) lest we end up with high rise slums. You are crushing nairobby-wukan's dreams boss! Karibu homes Mutongoni road Athi River ni kengine. Those "homes" are 3m but if you stretch your arms you can literally touch opposite walls at once. This is why DC is the future. Wide open spaces and huge homes for a fraction of the cost per sqm and half of Nairobi is already there so amenities are fast catching up! Those Kitengela homes going for 8/9m are fetching 35k rent. That's very poor. Looking at it from a rental play perspective these studios are a much better investment and have ready demand for them. What do they mean by 45 years sublease? Could it be that they are leasing from a lessor After 45 years what happens to my kids? Your kids will be kicked out after the sublease ends and the flat sold to someone else. But in law, the current occupant will be given first priority to place a bid
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 804,000 ABP 6.26; MTN 23,800 ABP 5.20
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,859 Location: nairobi
|
Interesting https://www.businessdail...98138-wxlqlcz/index.html
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 804,000 ABP 6.26; MTN 23,800 ABP 5.20
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,784 Location: NAIROBI
|
[quote=obiero]Interesting https://www.businessdail...8138-wxlqlcz/index.html[/quote] It's the state of the economy. It's getting tough by the day. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Veteran Joined: 7/8/2008 Posts: 947
|
[quote=obiero]Interesting https://www.businessdail...8138-wxlqlcz/index.html[/quote] So Obiero are your stocks performing as well as your property?? Has the Rona changed your investment principles!!
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,859 Location: nairobi
|
My principle remains 5% stocks, 95% real estate.. There's a dip in property values but I am not a seller! Actually buying one more unit in Nairobi
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 804,000 ABP 6.26; MTN 23,800 ABP 5.20
|
|
|
Rank: Member Joined: 5/15/2019 Posts: 687 Location: planet earth
|
 Low end housing ndiyo hiyo sasa. Pipu, Nai. This is how ALL of Nai will look like in 30 years time. Kile and Lavi inclusive I passed the AHP on Park road and just SMH in amazement. Looks shiny, but check back in ten years. It will be a disaster. Too many people in too many tiny spaces in one building. That's why we keep saying DC is the future. In Jewel in the Crown, for example, the defining line is "the bridge." Once you cross it you are in middle class suburbs that are controlled and will never turn to urban slums in the next 50 years why? 1) Most people love being "close to Nairobi" because they think the universe revolves around Nairobi CBD. Hustlers pia always walk towards town searching for jobs, not away from it, so these suburbs of DC will never experience demand for pipu style high rise flats. Instead, as has been happening the past twenty years, the middle classes will flood OUT of Nai core into DC burbs; for space, comfort and peace of mind. 2) One needs a reliable car to commute to and from these burbs meaning they are doomed to remaining for the middle and upper classes. 3) As opposed to places like Lavi where nyumbas were moja moja and not in gated communities, the gated communities concept keeps expanding (due to security concerns) which means the model will keep multiplying in DC well into the foreseeable future. The large tracts of open land make this possible. Once a community is gated it is EXTREMELY DIFFICULT to turn it into anything else as there will always be dissenting voices who will shoot down the idea of introducing flats, for example into the gated community; since it has its rules and even elections of officials on a yearly basis. This is a beautiful ting oo! 4) The types of beautiful homes (mansions) coming up will not allow for future redevelopment even in 100 years. Think Runda and Muthaiga vs Kileleshwa. Runda and Muthaiga homes, for the most part are mansion bin mansions. A lot of effort thought, good memories of occupants and investment as gone into them. Tearing such down to build apartments is not sensible. In Kileleshwa they had tu-old ooooold tiny beberu colonial bungalows that have long been overtaken by time. It was inevitable that they would all be torn own for highrises to come up. NIMESEMA!In the final analysis, it all boils down to sheer plain old hard work and dogged persistence. Nothing more, nothing less!!
|
|
|
Rank: Veteran Joined: 1/10/2015 Posts: 961 Location: Kenya
|
amorphous wrote:
3) As opposed to places like Lavi where nyumbas were moja moja and not in gated communities, the gated communities concept keeps expanding (due to security concerns) which means the model will keep multiplying in DC well into the foreseeable future. The large tracts of open land make this possible. Once a community is gated it is EXTREMELY DIFFICULT to turn it into anything else as there will always be dissenting voices who will shoot down the idea of introducing flats, for example into the gated community; since it has its rules and even elections of officials on a yearly basis. This is a beautiful ting oo!
NIMESEMA! This is what is saving many people huko suburbs. Before anyone builds they must submit architectural plans to the gated estate committee for approval, and its only then that they can submit the plans to county authorities. Without this kind of strong self regulation, some mad man will want to put a high rise flat next to your home. There are some cases where some individuals try to deceive the estate committee by submitting a different plan from what they intend to build but estate management do closely monitor the buildings for any deviation from the approved plans. I know a guy who was hospitalized due to shock (he nearly died) after he went to his building site one morning and found that his structure had been brought down at night by his neighbors/estate committee due to not following the submitted building plans. He had defied the committee saying the plot was his and could do whatever he wanted ,and had spent the previous day koroga-ring the first floor slab but the angry neighbours brought down the whole structure in the evening. He had to sell his plot and move away coz he could no longer live in such a "hostile environment". That is how his millions in construction costs went down the drain. The suburbs we admire in western countries are the result of the strict adherence to the building/planning codes and regulations. The county authorities there are very thorough in enforcing those regulations. Here in kenya the authorities are sometimes compromised and that is why wananchi have to take the law into their hands to enforce the building codes. Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
|
|
|
Rank: Member Joined: 5/15/2019 Posts: 687 Location: planet earth
|
sqft wrote:amorphous wrote:
3) As opposed to places like Lavi where nyumbas were moja moja and not in gated communities, the gated communities concept keeps expanding (due to security concerns) which means the model will keep multiplying in DC well into the foreseeable future. The large tracts of open land make this possible. Once a community is gated it is EXTREMELY DIFFICULT to turn it into anything else as there will always be dissenting voices who will shoot down the idea of introducing flats, for example into the gated community; since it has its rules and even elections of officials on a yearly basis. This is a beautiful ting oo!
NIMESEMA! This is what is saving many people huko suburbs. Before anyone builds they must submit architectural plans to the gated estate committee for approval, and its only then that they can submit the plans to county authorities. Without this kind of strong self regulation, some mad man will want to put a high rise flat next to your home. There are some cases where some individuals try to deceive the estate committee by submitting a different plan from what they intend to build but estate management do closely monitor the buildings for any deviation from the approved plans. I know a guy who was hospitalized due to shock (he nearly died) after he went to his building site one morning and found that his structure had been brought down at night by his neighbors/estate committee due to not following the submitted building plans. He had defied the committee saying the plot was his and could do whatever he wanted ,and had spent the previous day koroga-ring the first floor slab but the angry neighbours brought down the whole structure in the evening. He had to sell his plot and move away coz he could no longer live in such a "hostile environment". That is how his millions in construction costs went down the drain. The suburbs we admire in western countries are the result of the strict adherence to the building/planning codes and regulations. The county authorities there are very thorough in enforcing those regulations. Here in kenya the authorities are sometimes compromised and that is why wananchi have to take the law into their hands to enforce the building codes. Exactly! Imagine those who choose to buy in a cramped urban skyrise like this new one in Kilimani  . A family consisting of dad, mum, 3 kids who will NEVER know what it feels like to ride a bike in the open winds! Then squeezing with strangers in the lift kila siku. And trying to suffer to slide your car in the tiny basement parking. Is that life? Give me my lawns and space and comfort and joy in DC over this a million times over any day!  In the final analysis, it all boils down to sheer plain old hard work and dogged persistence. Nothing more, nothing less!!
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,859 Location: nairobi
|
amorphous wrote:sqft wrote:amorphous wrote:
3) As opposed to places like Lavi where nyumbas were moja moja and not in gated communities, the gated communities concept keeps expanding (due to security concerns) which means the model will keep multiplying in DC well into the foreseeable future. The large tracts of open land make this possible. Once a community is gated it is EXTREMELY DIFFICULT to turn it into anything else as there will always be dissenting voices who will shoot down the idea of introducing flats, for example into the gated community; since it has its rules and even elections of officials on a yearly basis. This is a beautiful ting oo!
NIMESEMA! This is what is saving many people huko suburbs. Before anyone builds they must submit architectural plans to the gated estate committee for approval, and its only then that they can submit the plans to county authorities. Without this kind of strong self regulation, some mad man will want to put a high rise flat next to your home. There are some cases where some individuals try to deceive the estate committee by submitting a different plan from what they intend to build but estate management do closely monitor the buildings for any deviation from the approved plans. I know a guy who was hospitalized due to shock (he nearly died) after he went to his building site one morning and found that his structure had been brought down at night by his neighbors/estate committee due to not following the submitted building plans. He had defied the committee saying the plot was his and could do whatever he wanted ,and had spent the previous day koroga-ring the first floor slab but the angry neighbours brought down the whole structure in the evening. He had to sell his plot and move away coz he could no longer live in such a "hostile environment". That is how his millions in construction costs went down the drain. The suburbs we admire in western countries are the result of the strict adherence to the building/planning codes and regulations. The county authorities there are very thorough in enforcing those regulations. Here in kenya the authorities are sometimes compromised and that is why wananchi have to take the law into their hands to enforce the building codes. Exactly! Imagine those who choose to buy in a cramped urban skyrise like this new one in Kilimani . A family consisting of dad, mum, 3 kids who will NEVER know what it feels like to ride a bike in the open winds! Then squeezing with strangers in the lift kila siku. And trying to suffer to slide your car in the tiny basement parking. Is that life? Give me my lawns and space and comfort and joy in DC over this a million times over any day! True. The standard of living will be compromised somewhat but the fact remains that vertical houses create affordability
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 804,000 ABP 6.26; MTN 23,800 ABP 5.20
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,249 Location: Nairobi
|
World's tallest prefab skyscrapers will rise in Singapore https://www.cnn.com/styl...al&utm_source=twCNN Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Member Joined: 9/14/2011 Posts: 862 Location: nairobi
|
obiero wrote:My principle remains 5% stocks, 95% real estate.. There's a dip in property values but I am not a seller! Actually buying one more unit in Nairobi What rough estimated % do you think the dip in prices is? Is it very different between residential and commercial
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,859 Location: nairobi
|
heri wrote:obiero wrote:My principle remains 5% stocks, 95% real estate.. There's a dip in property values but I am not a seller! Actually buying one more unit in Nairobi What rough estimated % do you think the dip in prices is? Is it very different between residential and commercial Oops. Hadn't seen the question. Property prices are still suppressed especially commercial with low occupancy. However, residential is fairing better. Many new units being delivered in the market are now in the 1 bedroom and studio band. Affordable housing is a timely idea
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 804,000 ABP 6.26; MTN 23,800 ABP 5.20
|
|
|
Wazua
»
Investor
»
Property
»
Low End Housing: High Risk, High Return
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|