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Insightful take on Nairobi Real Estate
Rank: Veteran Joined: 11/13/2015 Posts: 1,654
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Very juicy properties  Property 219 Kirinyaga road total p.m. Kshs 666,500/= price guide 60m. Yield 13.3% BUT...."The Immediate access road is also tar-surfaced but is currently overcrowded with motor vehicle garages."
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Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
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wukan wrote:Very juicy properties Property 219 Kirinyaga road total p.m. Kshs 666,500/= price guide 60m. Yield 13.3% BUT...."The Immediate access road is also tar-surfaced but is currently overcrowded with motor vehicle garages." Mimi hiyo No. 31 Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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dunkang wrote:wukan wrote:Very juicy properties Property 219 Kirinyaga road total p.m. Kshs 666,500/= price guide 60m. Yield 13.3% BUT...."The Immediate access road is also tar-surfaced but is currently overcrowded with motor vehicle garages." Mimi hiyo No. 31 Looks good & affordable. GL!!! 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: 1,654
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1st Half Knight Frank report...not looking good in matters real estate Quote:Rents for prime retail shops decreased by approximately 5.9% to US$ 4.8 per square foot per month in the first half of 2019, while service charges across retail malls in Kenya ranged from Ksh 45 to Ksh 60/sq ft/month. The decline in rentals is mainly attributed to the current economic situation and less money in circulation, resulting in reduced spending by consumers. Additionally, oversupply of retail space in certain locations has resulted in pressure on landlords to provide concessions and other incentives to attract new or retain existing tenants, making the sub-sector a tenants’ market Quote: Absorption of Grade A and B office space in Nairobi declined by 8% in the period compared to the second half of 2018. The decline in office uptake and stagnation of rental prices is mainly attributed to the continued oversupply of commercial space in some locations and the current economic slowdown. As a result, some landlords are providing concessions such as longer fit-out periods, partial contributions towards tenant fit-outs, or giving discounted rentals so as to retain existing tenants and attract new one Quote:Prime residential sale prices in Nairobi decreased by 1.8% over the first half of 2019 compared to a decline of 0.4% in the first half of 2018, pushing the annual decline to 6.7% in the year to June. Prime residential rents also declined over the review period by 1.68% compared to 0.33% over a similar period in 2018, taking the annual decline to 3.3% in the year to June. The decline in both prime residential sale and rental prices is mainly attributed to the continued oversupply of residential developments in certain locations such as Karen and the ongoing credit crunch which has resulted in reduced money circulation. These factors have transformed the market in favour of buyers and tenants, even as some multinationals continue to downsize while fewer expatriates are relocating to Kenya, impacting negatively on the niche market.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,654
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Dubai meanwhile is in the mix of a major correction. Quote:Dubai’s ruler issued a directive on Monday that would curb the pace of new real estate construction projects as property prices fall and the sheer scale of developments threatens to outstrip demand. Sheikh Mohammed bin Rashid Al Maktoum ordered the creation of a committee to study the needs of the real estate market, evaluate all future projects and control the pace of projects, a statement by Dubai’s Media Office said. The move comes amid a slowdown in Dubai’s economy and a slump in real estate prices. Dubai’s real estate sector is a bellwether for its economy. It not only caters to the emirate’s residents, but also attracts wealthy investors from around the world seeking a safe place to put their money. Property values, however, have been steadily dipping. A report by UAE-based Property Finder found that Dubai apartment and villa sale prices for the first half of 2019 were down around 12% compared to two years ago. https://www.apnews.com/7...bc048baabe4056025be75dd
Always wonder why anyone would buy property in a city designed for cars instead of people.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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wukan wrote:1st Half Knight Frank report...not looking good in matters real estate Quote:Rents for prime retail shops decreased by approximately 5.9% to US$ 4.8 per square foot per month in the first half of 2019, while service charges across retail malls in Kenya ranged from Ksh 45 to Ksh 60/sq ft/month. The decline in rentals is mainly attributed to the current economic situation and less money in circulation, resulting in reduced spending by consumers. Additionally, oversupply of retail space in certain locations has resulted in pressure on landlords to provide concessions and other incentives to attract new or retain existing tenants, making the sub-sector a tenants’ market Quote: Absorption of Grade A and B office space in Nairobi declined by 8% in the period compared to the second half of 2018. The decline in office uptake and stagnation of rental prices is mainly attributed to the continued oversupply of commercial space in some locations and the current economic slowdown. As a result, some landlords are providing concessions such as longer fit-out periods, partial contributions towards tenant fit-outs, or giving discounted rentals so as to retain existing tenants and attract new one Quote:Prime residential sale prices in Nairobi decreased by 1.8% over the first half of 2019 compared to a decline of 0.4% in the first half of 2018, pushing the annual decline to 6.7% in the year to June. Prime residential rents also declined over the review period by 1.68% compared to 0.33% over a similar period in 2018, taking the annual decline to 3.3% in the year to June. The decline in both prime residential sale and rental prices is mainly attributed to the continued oversupply of residential developments in certain locations such as Karen and the ongoing credit crunch which has resulted in reduced money circulation. These factors have transformed the market in favour of buyers and tenants, even as some multinationals continue to downsize while fewer expatriates are relocating to Kenya, impacting negatively on the niche market.
Wukan, I love the way how every day your posts support my DC is the future assertion. -You admitted that Nairobi core is DOOMED due to sewerage water coming out of the taps in Lavington! - Now this! Move away FAST to DC before Nairobi core completely collapses with oversupply,toxic sewage and a disaster of a toxic sludge bowl named Nairobi river coursing through all the poshest hoods causing skyrocketing levels of cancer!! 
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Rank: Veteran Joined: 11/13/2015 Posts: 1,654
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MugundaMan wrote:Wukan, I love the way how every day your posts support my DC is the future assertion. -You admitted that Nairobi core is DOOMED due to sewerage water coming out of the taps in Lavington! - Now this! Move away FAST to DC before Nairobi core completely collapses with oversupply,toxic sewage and a disaster of a toxic sludge bowl named Nairobi river coursing through all the poshest hoods causing skyrocketing levels of cancer!! One leaky pipe cannot doom Nairobi core Sit tight if Nairobi core sneezes DC will be out with pneumonia. Of all the options I have DC would be the last place.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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wukan wrote:MugundaMan wrote:Wukan, I love the way how every day your posts support my DC is the future assertion. -You admitted that Nairobi core is DOOMED due to sewerage water coming out of the taps in Lavington! - Now this! Move away FAST to DC before Nairobi core completely collapses with oversupply,toxic sewage and a disaster of a toxic sludge bowl named Nairobi river coursing through all the poshest hoods causing skyrocketing levels of cancer!! One leaky pipe cannot doom Nairobi core Sit tight if Nairobi core sneezes DC will be out with pneumonia. Of all the options I have DC would be the last place. Nairobi River is one helliuva "small leaky pipe" my braddah, wouldn't you agree?  https://www.nation.co.ke...7058-107oy9o/index.html
https://www.businessdail...262-12jcmauz/index.html
 My friend, the fact that you are not scared for your life when Nairobi River sewage water full of DEAD BODIES seems like a small leaky pipe to you scares me!  Cancer rates do not skyrocket by accident. Most of these big shots dying of cancer have mansions next to the "small leaky pipe" Have you jogged the bypass between Riverside Dr and Westlands Roundabout. My bradza, I made the mistake of stopping to peak into the Nairobi River below one day. The smell wauu wauu wauu. Then ten shondes floating fuaaa merrily down the river. Those veggies you buy at Chandarana and Zucchini are all grown with NBI river water bro. Come to DC. Maji fresh flowing zwuuu nicely into our rain water tanks. Biodigester waste is PURE H20 and no need for exhausting. Veggies are CLEAAAAAAAAN and home grown in pesticide free soil. Eggs are of course Kienyeji from free range kuku. Life expectancy in DC will soon shoot to 100 while in Nai core the stress of smelling the floating shondes alone has reduced life expectancy to 55 at most in my humble view!
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Karen is also choking under sewerage. Residents cant sleep due to the sickening smell. No where is safe in the damn city....
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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hardwood wrote:Karen is also choking under sewerage. Residents cant sleep due to the sickening smell. No where is safe in the damn city.... Wukans paradise What a pity.
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