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Bubble hits US Golf communities
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jaggernaut
#1 Posted : Tuesday, October 30, 2012 8:08:23 PM
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Joined: 10/9/2008
Posts: 5,389
Eti in some golf estates in the US, plots are going for $1 or even free. Hope this doesn't befall Kenya's golf estates such as Thika Greens, Longonot Gates, Sergoit etc.

http://online.wsj.com/article/SB10001424052702303703004577474563368632088.html
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itz
#2 Posted : Tuesday, October 30, 2012 8:36:04 PM
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Joined: 3/20/2009
Posts: 348
it is because of all the fees,taxes considering it is expensive to maintain the golf courses.Local property taxes are definitely coming to kenya in the next few years otherwise how else do we expect to finance the county governments.
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tony stark
#3 Posted : Wednesday, October 31, 2012 2:57:28 PM
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How many people play golf in Kenya??

This Golf estates are a bubble waiting to happen. Maintaining the golf course is water, labour and financially intensive and to add salt to injury the number of people who appreciate a good course are very few.

I want to see when the stagnation. I doubt we shall have a real bubble!
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mibbz
#4 Posted : Wednesday, October 31, 2012 3:28:15 PM
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i have always said the golf estates are waiting for the young guys to buy them like myself.they are simply too many and are selling a lifestyle that very few are willing to invest and maintain. thats my take on this issue
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murchr
#5 Posted : Wednesday, October 31, 2012 3:41:53 PM
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Joined: 2/26/2012
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Name one existing golf estate in kenia
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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FUNKY
#6 Posted : Wednesday, October 31, 2012 3:49:15 PM
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@ murch - Vipingo golf ridge in Vipingo is still existing.
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FundamentAli
#7 Posted : Friday, November 02, 2012 9:41:20 AM
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murchr wrote:
Name one existing golf estate in kenia


Great Rift Valley lodge?
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King G
#8 Posted : Friday, November 02, 2012 12:43:28 PM
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Location: Othumo
murchr wrote:
Name one existing golf estate in kenia


Golf course next to Kenyatta market/ngummo area! cacha!
Thieves
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kway
#9 Posted : Tuesday, November 06, 2012 2:59:41 AM
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Joined: 11/6/2012
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tony stark wrote:
How many people play golf in Kenya??

This Golf estates are a bubble waiting to happen. Maintaining the golf course is water, labour and financially intensive and to add salt to injury the number of people who appreciate a good course are very few.

I want to see when the stagnation. I doubt we shall have a real bubble!


About 6000 golfers in Kenya and most are homeowners! But dont forget we have a growing aspirational middle class...
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murchr
#10 Posted : Tuesday, November 06, 2012 4:25:55 AM
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FundamentAli wrote:
murchr wrote:
Name one existing golf estate in kenia


Great Rift Valley lodge?


The reason why i asked is to exstablish if there is really bubble. The Kenyan mido crass is grwing and more and more are seeking luxury living. They dont have to be golfers but the "prestige" that comes with it will sell those estates like hot cake.

By the way, many of those who own homes at the Great Rift Valley Lodge live in Nrb
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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hisah
#11 Posted : Tuesday, November 06, 2012 5:55:31 AM
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Joined: 8/4/2010
Posts: 8,977
murchr wrote:
FundamentAli wrote:
murchr wrote:
Name one existing golf estate in kenia


Great Rift Valley lodge?


The reason why i asked is to exstablish if there is really bubble. The Kenyan mido crass is grwing and more and more are seeking luxury living. They dont have to be golfers but the "prestige" that comes with it will sell those estates like hot cake.

By the way, many of those who own homes at the Great Rift Valley Lodge live in Nrb

My small time research also points to diaspora money & foreign money. So locals are yet to jump into the bandwagon. The bubble is far from forming until the participation swings 70-80% locals. That is wanjikus borrowing to buy golf property financed by banks. When that trend ensues it will signal the exit door.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#12 Posted : Tuesday, November 06, 2012 6:06:46 AM
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Joined: 8/4/2010
Posts: 8,977
The link in this post also shows how the Spanish holiday home theme has crashed due to excess credit financing. Since 2008, the real estate crash is still unravelling! Post GFC effects and many spanish banks balance sheets are badly baked. Serves them right due to excess greed anyway.


http://www.wazua.co.ke/f...33#post332133#post332133
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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tonicasert
#13 Posted : Sunday, February 16, 2014 10:05:15 AM
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Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
http://www.businessdaily...-/121khdvz/-/index.html

Quote "we have problems paying for cheap security and garbage collection in many Lavington gated communities, how then will we cope with running a golf course?"

Is this the next quailamid??
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sparkly
#14 Posted : Sunday, February 16, 2014 3:55:34 PM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
tonicasert wrote:
http://www.businessdailyafrica.com/investment-in-golf-course-resorts-/-/539444/2205358/-/item/0/-/121khdvz/-/index.html

Quote "we have problems paying for cheap security and garbage collection in many Lavington gated communities, how then will we cope with running a golf course?"

Is this the next quailamid??


The service charges at Vipingo Ridge is KSHs 500k per property per year. A 4 br Villa will cost KShs100k, 2 br 50k per night but the uptake is high for organised events, occassions and golf tours.

Mido class has good disposable income and willing to spend. Not like generations past.
Life is short. Live passionately.
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murchr
#15 Posted : Sunday, February 16, 2014 4:48:44 PM
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Joined: 2/26/2012
Posts: 15,980
tonicasert wrote:
http://www.businessdailyafrica.com/investment-in-golf-course-resorts-/-/539444/2205358/-/item/0/-/121khdvz/-/index.html

Quote "we have problems paying for cheap security and garbage collection in many Lavington gated communities, how then will we cope with running a golf course?"

Is this the next quailamid??


Are there gated communities in Lavington?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Candlesticks
#16 Posted : Monday, February 17, 2014 8:43:08 AM
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Joined: 12/16/2013
Posts: 49
Location: Nairobi
murchr wrote:
tonicasert wrote:
http://www.businessdailyafrica.com/investment-in-golf-course-resorts-/-/539444/2205358/-/item/0/-/121khdvz/-/index.html

Quote "we have problems paying for cheap security and garbage collection in many Lavington gated communities, how then will we cope with running a golf course?"

Is this the next quailamid??


Are there gated communities in Lavington?


Gated Communities in Lavington??
"'Nowadays people know the price of everything and the value of nothing.' - Oscar Wilde.
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mpobiz
#17 Posted : Tuesday, February 18, 2014 1:00:03 AM
Rank: Elder


Joined: 8/10/2010
Posts: 2,264
hisah wrote:
murchr wrote:
FundamentAli wrote:
murchr wrote:
Name one existing golf estate in kenia


Great Rift Valley lodge?


The reason why i asked is to exstablish if there is really bubble. The Kenyan mido crass is grwing and more and more are seeking luxury living. They dont have to be golfers but the "prestige" that comes with it will sell those estates like hot cake.

By the way, many of those who own homes at the Great Rift Valley Lodge live in Nrb

My small time research also points to diaspora money & foreign money. So locals are yet to jump into the bandwagon. The bubble is far from forming until the participation swings 70-80% locals. That is wanjikus borrowing to buy golf property financed by banks. When that trend ensues it will signal the exit door.

Very true . Most or all of the luxury property buyers use their savings not loans.
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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