Wakanyugs is the one who quoted wiki so you do not even know who said what.

Anyway, I give up. I will let sensible people determine what flipping is instead of debating some of you cretins who talk much but say zero on the issue of real estate.



https://www.youtube.com/...query=flipping+property

Is this a joke or what?


LINK

When are these prices collapsing, really?

I have see so many apartments still coming up, currently. Some going for prices as high as 30M for an apartment. Weird, on one side its being said the prices are coming down and that sector is collapsing. On the other side, millions are being poured into similar projects and being quoted at very high prices.

What is actually happening?

We have some huge projects breaking ground as late as Dec 2018. Why would investors continue to pour money into such projects if the returns looks unlikely?

1. But who says everyone who develops a project takes a loan.
2. And who says rental yield is the only profit center in any real estate investment?

Not everyone has money to invest so it's a good choise to take a loan to invest

Flipping is alive and well in this here Nairobi.
There is a sort of renaissance ongoing in the masionettes around South B, Ngumo, woodley etc. Basically what is happening is some one is buying the houses, updating them to modern spec (bathroom, master ensuites, wardrobe space, integrating the SQ and generally creating better spaces) and then they sell.
I have seen a house that was bought from a flipper in South B and it was beautiful. The changes made makes it better than a house in Kile by far and you have your own small landscaped garden! The court is also well organized and works well. Very impressive.
I digressed I think this is something that will grow and I was honestly tempted to look for the flippers next house.
Kumbe tutajua hatujui!

OH MY GOD!!!

Even plots now are not moving!

https://www.kenyans.co.k...sposes-land-ksh40m-acre

Kenyatta Family Disposes Off Land at Ksh40M Per Acre

Members of the Kenyatta family are reportedly selling parts of their vast lands in Kiambu at a whopping Ksh40 million per acre.

Business Daily reported that the management of the Northland City, which is located in Ruiru, is selling the plots reserved for industries for them to inject funds on infrastructure development.

The entire city is estimated to be 103 acres and has been duly fenced by a perimeter wall.

“The entire 103-acre plot is now secured with a perimeter wall erected around it and soon each plot is now on sale as a serviced plot at Sh40 million.

"The same is also available for leasing where we shall put up purpose-built facilities for lease to incoming investors,” the paper quoted the city's business development head Paul

He further divulged that three developers, plastic products manufacturer and two agro-processors, have already acquired portions of the land and urged others to pick up fast before prices go up in future.

“We are urging international investors to buy plots here now before the dual carriageway is done since that will see demand rise forcing prices to shoot.

“Our feasibility study shows processing and handling goods in bulk within a single facility makes its cheaper for retail outlets that require such savings to power their sales across Kenya,” he continued.

The proponents of the city were also reportedly looking to develop commercial and residential spaces estimated to cost Sh500 billion to accommodate 250,000 workers daily in the next two decades.

Once complete, the project will competed with other mixed use developments such as Tatu City.

The real estate cycle is around 18-20 years. There is a period of correction lasting almost a decade. The first post-independence boom was around 1973 when most the Nairobi mid-class estates were built. The boom lasted till 1991 before a decade of correction. Current cycle will have another decade of correction which takes us to 2030's.

The places that get hit during corrections are the suburbs. Bargain hunters will spend on revitalizing older neighborhoods which already have the amenities instead of going for greenfield projects. Which explains the renaissance that @Tony stark is talking about.