Why are there many apartment blocks on sale

Am I the only one who has noticed that entire apartment blocks are being put on sale? I am no expert in this field but it seems a bit odd why I would commit to buy land and build an 8 storey block only to put it in the market one year later or two years later. My two kenyan cents though.

Uncertain future. It’s downhill all the way.

Ukifanya investment ya blunder kubwa kama hiyo na it’s going under you have to act quick and minimize your losses

Too much money resulting from proceeds of corruption floating around rendering genuine people unable to compete in that business, results? Premature sale as seen above

mtu anaiba pesa county, anapea dere wa hardware gunia ya pesa cash analetewa misumari na simiti na etc
mafundi wanalipwa cash kutoka kwa boot ya fielder

nyumba ikimalizwa kujengwa na 48 million pesa za uwizi, anauza na 26 million negotiable
mtu anakuja anamwekea clean money kwa account, alafu anaenda retire

Watu wengi hudanganywa eti “with rentals you can never go wrong,” after kujenga wanapata kwa ground maneno haiko ivo.

Kama total cost ya kununua plot+ kujenga io block ukidivide na average rental income per month inakupea more than 100, pesa ishakunywa maji, uza uondokee shida.

Sasa ivi kenya hakuna mahali safe unaweza weka over 10 million kando na treasury bonds.

True but then again kama umeiba 100 million and you buy a block of flats zina leta 700k hakuna pesa umepoteza .They money was not rightfully earned anyway

Zinauzwa kabla bank ichote.

This strategy doesn’t work bana. Kabla uuze Kra bado watauliza hiyo nyumba ulitoa wapi as ARA reposesses it. How many articles have we read here of govt officials wakinyakuliwa apartments ranging in billions of shillings while they earn a 130k salary at kenha and the likes of other parastatals.

Remember,most of these blocks are from ill gotten monies,i would sell mine to avoid blowbacks with the govt

Ile pesa okoapa!

It takes 10years to return your cash… Kama wewe si mpole na iwe kuna loan ama partner ameleta kichwa ngumu …unauza pap

The properties are levered and the economy is in the crapper.

Tenants are struggling to pay rent and there are more vacancies.

Lakini residential real estate targeting the average man is a very safe investment overall.

People don’t buy/build apartment blocks to get rich. They buy/build them to stay rich after kukafunga in business etc.

Leo ukihustle 200M ujenge affordable and decent 1 bedroom flats eastlands you will retire in Muthaiga and live happily ever after.

That 2M hitting your account every month will guarantee that lifestyle for the rest of your life as you do other riskier hustles.

Apartment blocks won’t make you rich fast, but if you are already rich from other riskier hustles like business, they will protect you from going broke.

The problem is doing something with get rich quickly mentality, you undertake risky unreasonable projects

That’s not how it works. I thought Ktalk ni ya intellectuals.

Seems some are doing okey kama sio chochaa

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Hawa mi story za jaba,rumours na gossip wanapenda,Real estate iko fueled mostly na financial institutions-banks,saccos,capital market investment companies na insurance companies, since insurance companies zikuwe restricted na Moi kuinvest into finance sector they were among the first to lead the way in massive real estate investment. Corruption na money laundering haziwezi kufund real estate hivyo.

Spot on

In another forum niliambia watu it’s better kujenga bedsitters or 2 bdrms in a fast growing village esp one that has subcoumty offices, than kujenga Nairobi. Karibu watu waniue.

Yessssss, somebody must have cheated a few Kenyan Investors. This is when real estate go stale due to inflation. The plot doesn’t bring anything to the owners, and the only option is to sell it and forget about it. Or the government plot or grabbed plot will soon be reclaimed and the owner is not willing to lose everything, now he or she is forwarding the shit to another fool.