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What Is your Best Property Investment So far ?
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young
#1 Posted : Monday, December 20, 2010 8:07:33 PM
Rank: Elder

Joined: 6/20/2007
Posts: 2,075
Location: Lagos, Nigeria
I ventured into real estate in 2009 after the world economic melt down to balance my portfolio on stocks:-

My approach has been to buy serviced or semi serviced plot in an up coming estate with a very high probability of infrastructural facilities in that vicinity. I also choosed the ones with flexible payment plans (12 - 36 months).

I discovered that if you have a good expertise or a reliable /trustworthy builder it is cheaper to buy land then take time to build the houses. This is often due to the fact that buying an established house and land is quite expensive.

My star plots are as follows :-

(i) In Nigeria I bought two plots (installmental payment) for 900K naira for both (about 450K Ksh) early 2010, now each cost 850K naira (425K Ksh each). Property marketed by Olive Networks Nigeria.
www.oliveestate.com

(ii) In Ghana I bough two plots (again installmentally) at USD7,000 each that is USD (14,000 for both) but now each cost USD25,000.
I started paying for the plots in Feb 2009 and completed payment in Feb 2010 but this is the going price in Dec 2010 !!! Property located in
East Legon Extension, Accra Ghana.
Property marketed by redrow developments, Ghana

www.redrowghana.com



Best Regards
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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obiero
#2 Posted : Monday, December 20, 2010 8:18:11 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,321
Location: nairobi
Bought 1/4 acre Kitengela land for KES 600,000 in January. Current market value is now KES 1,300,000. Pure luck. I sincerely expected such a gain in no less than two years. Especially since the piece is four kilometres from the main road!
COOP, IMH, KEGN, KQ, MTNU
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mpobiz
#3 Posted : Monday, December 20, 2010 11:17:05 PM
Rank: Elder

Joined: 8/10/2010
Posts: 2,265
the whole area along mombasa road, from syokimau mlolongo, and namanga road from athiriver to isenya is where the action is.

in feb this year in kitengela, i approached a man who was selling his 1/8 acre plot for 1000000 KSH.
by the time our transaction was complete, i had advertised the same plot in the newspapers for about two weeks for 1600000 KSH. before the ink on my new title deed was dry i had sold the plot for 1.5m

i have made much more doing this. but the gains are too high to be displayed, even in wazua.
this shows that a small investor can make it. you just need a sharp eye and GOD(not luck) on your side.
Politics is just things to keep the people divided and foolish and put your trust in men and none of them can do nothing for you...
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young
#4 Posted : Monday, December 20, 2010 11:42:01 PM
Rank: Elder

Joined: 6/20/2007
Posts: 2,075
Location: Lagos, Nigeria
Ladies and gentlemen I forgot to mention another star buy in Tema Accra in the neighbouring Ghana.

I bought into a planned city located outside the Ghananian port city of Tema on AKosombo road, Tema, Accra. It is a new settlement, a fully serviced plot with a plan for all known amenities.

I keyed into it in March 2008 at an asking flexible payment price of USD10,000 for 1/4 acre plot. I completed payment in November 2009.

Ask me of the going price now, USD 60,000 still with flexible payment plan. People are ready to pay USD40,000 cash down !!!

www.falconcrestghana.com

In real estate terms, our neighbouring west african country Ghana is very peculiar.

Buy in USD===>Build in Ghana Cedis===> Rent or sale in USD .

A favourable chain for real estate investor but a real disadvantage to the consumers (tenants etc).


The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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sparkly
#5 Posted : Tuesday, December 21, 2010 8:42:22 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Teamed up with some friends to buy 1/8 acre at kitengela
Life is short. Live passionately.
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raszag
#6 Posted : Tuesday, December 21, 2010 3:06:29 PM
Rank: Member

Joined: 7/6/2010
Posts: 170
Location: Kenya Tukufu
It's really difficult to wrong with land..bought 1/4 acre in Thika last yr @ 1.04 and its now going for a min of 1.6 m....Same in Isinya 1/2 at 200k early last year and word around is that is almost doubled now
Hardwork, Smartness & Humility = Successful and Happy life...Jipange sasa hivi
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Pablo
#7 Posted : Tuesday, December 21, 2010 7:59:59 PM
Rank: Member

Joined: 3/17/2008
Posts: 567
Location: Nairobi
@Young

Ay experience in Uganda?
I am informed people are making good returns in the Bugolobi area.

Have friends who rushed to Lamu and have made quite some returns in the last 12 months.
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young
#8 Posted : Tuesday, December 21, 2010 11:14:50 PM
Rank: Elder

Joined: 6/20/2007
Posts: 2,075
Location: Lagos, Nigeria
Greetings to you @Bwana Pabio

My experience in Uganda Real Estate is little because of the distance from Nigeria. Where I have vast and enormous experience is in my neighbouring Ghana.

Nonetheles I visited Kampala a year ago and I bought a plot of land in Kakungulu Satelite City developed by Akright Projects Ltd one of the leading real estate companies in Uganda. The asking price then was 12 Million UGX (1 KSH=27 UGX). Recently a colleague of mine wanted to buy but he was told they have sold off but that they can arrange a re-sale from somebody that bought earlier at 16 Million UGX.
Be aware the plot I bought is not for investment but for residential purpose (future vacation home)
.
Another equally real estate developers in Uganda is Jomayi Properties www.jomayi.co.ug.

Bugojobi you mentioned is a high brow area in Kampala which can be equated to Karen of Nairobi.

But I believe any location on or off Entebbe road vicinity is a good investment. One of the high brow areas on Entebbe road is Lubowa.

Best Regards
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Pablo
#9 Posted : Wednesday, December 22, 2010 8:14:38 PM
Rank: Member

Joined: 3/17/2008
Posts: 567
Location: Nairobi
Thanks Young.
I admire your pan african knowledge. Most of us just know kenya.
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pessa
#10 Posted : Monday, January 03, 2011 7:40:56 AM
Rank: New-farer

Joined: 12/30/2010
Posts: 41
Location: Africa
I have worked in Ghana. I thought there was a big problem with land there. You have to pay and constantly bribe the chiefs there as land is mostly owned by the chiefs. East Legon is good. Best buys last year was. 6 shares of Embakassi Ranch at 108,000 for a quarter. Current valuation is 1.2 million each. Lamu at Hindi town for 450,000 ( by the road) now at 650,000 in just two months. Narok at 120,000 now at 180,000. Narok will be one of the richest counties. Kigali, Narutarama is a good buy 3 acres for ksh 4,000,000 now doubled. Kigali is good but construction is expensive.
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