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Land brokers/middlemen to blame
ali
#1 Posted : Thursday, September 22, 2011 11:51:00 AM
Rank: Veteran

Joined: 6/11/2008
Posts: 892
I have noted with serious concern how land brokers/agents/dealers hike/inflate prices left right and ctr. Partly aided by buyers from 'blue collar' enviroment who buy whatever is offered. Take juja farm for example, 2yrs ago, an acre was in the range of 100k. Same place, same size today is an M or there abt. Kitengela 1km frm kitengela town, in 06, quarter was 125k, today, dnt even try. If u go directly to owner, u get a clean, bigger, better and cheaper deal. Bt nairobians kawaida, you buy at whatever you are told. There is land we bought in kamulu @ 300k/acre. Even b4 we completed paying...in 2 months, the same land was now 600k an acre...if we wanted to, we could sell, make 100% profit.
For in him (Jesus) we live and move and have our being-Acts 17:28
jamplu
#2 Posted : Thursday, September 22, 2011 2:38:01 PM
Rank: Veteran

Joined: 3/25/2010
Posts: 939
Location: Nai
ali wrote:
I have noted with serious concern how land brokers/agents/dealers hike/inflate prices left right and ctr. Partly aided by buyers from 'blue collar' enviroment who buy whatever is offered. Take juja farm for example, 2yrs ago, an acre was in the range of 100k. Same place, same size today is an M or there abt. Kitengela 1km frm kitengela town, in 06, quarter was 125k, today, dnt even try. If u go directly to owner, u get a clean, bigger, better and cheaper deal. Bt nairobians kawaida, you buy at whatever you are told. There is land we bought in kamulu @ 300k/acre. Even b4 we completed paying...in 2 months, the same land was now 600k an acre...if we wanted to, we could sell, make 100% profit.


There are no signs that this will ever go away thats why i opted to go through some of the diligent saccos.
patcho
#3 Posted : Thursday, September 22, 2011 3:06:21 PM
Rank: New-farer

Joined: 5/29/2011
Posts: 47
Location: Nairobi
very true @ali. infact we work so so hard in order to save and own some land but in the end the one who benefits most is the broker.I think the way our system is structured really favours these brokers.The other day,I was being shown some commercial plots(by a broker)in embakasi-pipeline area and in the process we came across this huge seven storey flat being constructed...and I couldn't belief it when I realised it belonged to this broker.He sold plots/land making huge/crazy commissions until he constructed a flat.... at that moment I realised he was one of those who were overpricing the plots in that area and due to his sweet talking nature he was able to convinve gullible potential buyers to buy at very high prices unknowingly..and guess what,I didn't buy the plots from him I later got a similar plot nearby at a far much lesser price...so the thing is one should do be prepared to do a lengthy research of land prices before purchasing.
african coloner
#4 Posted : Thursday, September 22, 2011 5:42:32 PM
Rank: Member

Joined: 10/8/2010
Posts: 446
Location: london
patcho wrote:
very true @ali. infact we work so so hard in order to save and own some land but in the end the one who benefits most is the broker.I think the way our system is structured really favours these brokers.The other day,I was being shown some commercial plots(by a broker)in embakasi-pipeline area and in the process we came across this huge seven storey flat being constructed...and I couldn't belief it when I realised it belonged to this broker.He sold plots/land making huge/crazy commissions until he constructed a flat.... at that moment I realised he was one of those who were overpricing the plots in that area and due to his sweet talking nature he was able to convinve gullible potential buyers to buy at very high prices unknowingly..and guess what,I didn't buy the plots from him I later got a similar plot nearby at a far much lesser price...so the thing is one should do be prepared to do a lengthy research of land prices before purchasing.



what was the difference?
jamplu
#5 Posted : Thursday, September 22, 2011 6:03:20 PM
Rank: Veteran

Joined: 3/25/2010
Posts: 939
Location: Nai
i know of a case where a broker was offering land at 3.8 and the owner wanted 3M flat.
Katibampya
#6 Posted : Thursday, September 22, 2011 6:29:14 PM
Rank: Member

Joined: 5/5/2010
Posts: 95
Location: Nairobi
Don't hate the player, hate the game!!!
ali
#7 Posted : Thursday, September 22, 2011 7:15:36 PM
Rank: Veteran

Joined: 6/11/2008
Posts: 892
Its sad coz the brokers even go to the extent of removing the beacons so that owners dnt sell directly. Just 2 wks ago, in ruiru, brokers were selling land @ 1.2, half an acre. You may nt believe it bt the owner, an old woman just wanted 450k. I almst fainted when we met the lady . Too bad that some guy got it b4 me, bt glad that brokers lost it.
For in him (Jesus) we live and move and have our being-Acts 17:28
patcho
#8 Posted : Thursday, September 22, 2011 8:14:12 PM
Rank: New-farer

Joined: 5/29/2011
Posts: 47
Location: Nairobi
african coloner wrote:
patcho wrote:
very true @ali. infact we work so so hard in order to save and own some land but in the end the one who benefits most is the broker.I think the way our system is structured really favours these brokers.The other day,I was being shown some commercial plots(by a broker)in embakasi-pipeline area and in the process we came across this huge seven storey flat being constructed...and I couldn't belief it when I realised it belonged to this broker.He sold plots/land making huge/crazy commissions until he constructed a flat.... at that moment I realised he was one of those who were overpricing the plots in that area and due to his sweet talking nature he was able to convinve gullible potential buyers to buy at very high prices unknowingly..and guess what,I didn't buy the plots from him I later got a similar plot nearby at a far much lesser price...so the thing is one should do be prepared to do a lengthy research of land prices before purchasing.



what was the difference?



Believe it or not the difference was a cool 600K.......ama what difference are you asking?
jamplu
#9 Posted : Thursday, September 22, 2011 9:06:55 PM
Rank: Veteran

Joined: 3/25/2010
Posts: 939
Location: Nai
Katibampya wrote:
Don't hate the player, hate the game!!!


am sooo hating both... buyers do your research and try to understand the value of land the area you interested.
Pablo
#10 Posted : Thursday, September 22, 2011 10:01:51 PM
Rank: Member

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

The Problem is not brokers its much bigger tghan that.
I have been in Rwanda for some time now and note that if ypou need to buy or sell something it mostlikely needs to go thro an agent.
There are no classifieds in the papers to get the owners!!!!

Note that the price of land is still affordable mostly due to heavy taxation on idle land and leasehold systems where you lose your land if you dont develop it in a year.

Its just about our policies.
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