I saw on last Sunday newspare that Next Gen mall will be opening soon and offeres were made for individuals to rent or buy stalls/rooms/sq-feet!

In an ideal functioning economy, I'd agree with you.

But in Kenya, what we have is extremely hot money (corruption proceeds) greedily invested in real estate for quick ridiculous appreciation (way above the intrinsic value) with very few mortgages.

When, not if, the thieves fear losing their ill gotten loot when the prices start trickling down (throw in the Asset Recovery Agency which could play a role), the real estate exodus driven by fear is going to be something to behold.

The blame is solely on the government who could have averted with properly implemented policies (i.e. CGT) but since they're the ones very heavily involved in stealing and hiding the proceeds in real estate, there never was a motive to put a check on it.

I agree with you. Not only are these corrupt cartels robbing the tax payer blind, they are also disenfranchising Kenyans from their land. They take our money and our land. Rather they had stashed these monies in offshore accounts at least the average mwananchi who works for honest wages would have a piece of the property pie.

very frank!

Wanyee as much as I hate to say it, please read murchr's posts on the internet or take any business for example.

Business people do not buy land. They rent your house.

Since this is an investor's forum, let me ask you like seriously.

Why should I buy land for lets just say 1 million for an 1/8

Kenyan reasons

I million shillings shall become rental income of 15 1 bedroom houses for 10k each giving me a guaranteed 150k per month.

It sounds very nice until you hear KRA is busy looking for you matapakas and honesly 150k in Nairobi means you rent a house in Embakasi as you wait.

Wait, Wait. for the property appreciation. After all all property values go up.

Please do not compare yourself to your grandfather in 1970. There comes a time when prices flatline. In each and every business. Every business.

Now since we are in 2016. Some mama goes with the same 10k dollars to shaina. She buys a few bed spreads for 500 bob and sells them in facebook for the low low price of 2k. Her cost 1k her profit 1k.

Why the hell do you think you are seeing very many women going to shaina?

Then they come back and buy your kabroti. Not to sell it for a profit today but to hold onto it coz every Kenyan want's land. Why do you think they sell to you. When shit hits the fan she sells the land to you and goes back to shaina. She then sells you the sheeap branket for another of your 2k.

I just don't know what to say.

Whilst the youth in other countries have moved on to understanding the meaning of adding value, the Kenyan youth are still trying to be like our grandparents.

The stories of the young rich in Kenya are there for you to see. Instead of buying land Keroche decided to sell you beer. Now they own a house in Muthaiga. Instead of buying land, Lamudi has convinced each and every property firm in Kenya to pay them minimum 10k per month just to be listed.

Let me ask you with all sincerity. What happened to Tysons, Llyod Masika etc. They have gone so low that they pay a mbeberu every month to list their property. What was so hard for them to do it themselves?

Instead of buying land, you wazuan are busy making Jumia nigerian kids billionaires.

Lamudi, Jumia are making more returns in a day than the land buying Kenyan. Tafakari hayo.

You continue buying land. Unless you are a property management firm that has the skills to maneuver the market, I don't see why you should not be like nice and lovely, go to shaina and get a factory to manufacture.

I'm talking like an old man who has seen this wave pass me by. I really hope the young in Kenya don't waste time on land but waste their time on manufacturing and leverage.

Getting a Kenyan mortgage...means you are one of the most stupid humans in the world. Ati I pay you 25% and you give me 1% interest on my money. let me take it to karumaindo.