Live in Ruiru 100x 50 for 50m.
Muici wa pikchas why must your replies have like…’in the US,….ukienda Japan,…if you go to England’
Hapo juu umetumia kama 50
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I think that Kenyans have a herd mentality and we do not want to think outside the box… On the other hand, security is not guaranteed in some places or you become the first person to build a palace in a new ‘cheap’ area and become the victim of thugs until the place is built up! So, once the place is built up, then the prices will rise significantly…
Another thing is that the money being use to purchase property is generally suspect… Or where are people finding Shs. 50m to buy plots in Runda, yet they earn less than 500k gross per month in some Government office? Or what businesses are they into? (There are few justifiable exceptions, though)
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Less than 60m can buy you this in South Africa:
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These prices are largely hypothetical. Very few maybe one or two guys in five years pay that much and that emboldens these brokers. Try selling a house or land ujionee. Hakuna. Vile mmeambiwa hapo juu if you have the cash money say 20 percent below the asking price you will get it. Just drive a hard bargain utapewa unless a governor shows up with illicit funds
The Karen one clearly isn’t overpriced because it has found a buyer. The others are probably being priced that way because those are areas that allow for conversion into commercial property
Better and bigger houses with SQs are being sold in areas around loresho for 40m…na bado hazinunuliwi yet ziko kwa gated communities, lami na cabro kila mahali na security poa
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Another thing is the house in uninsured, the title deed to the house is also very fishy. Leo ununue hiyo nyumba 50 million, uende bank uwaambie unataka 30 million loan na hiyo nyumba, they will laugh at you until their jaws literally unhook from their face and fall to the ground.
So the quenstion is, why did you spend 50 million that is unrecoverable. A house is supposed to be your biggest asset in life, helping you to trasnmit value over decades.
But in kenya, ununue hiyo taka tak 50 million, will you recover that 50 million in 10 years. if you cannot answer yes, what di you spend your money on exactly?
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50M is about $400,000!!! That’s a lot of money to invest in ANY real estate in a stupid shithole country like Kenya where laws/regulations don’t work/apply especially with shitty infrastructure. Kenya is not a mature economy where real estate prices can keep going up and where home equity is a real thing. The first world use cases of property ownership DO NOT AND WILL NEVER work in Kenya. That’s why I tell diaspora Kenyans to use their heads and invest where they live!!!
Let me elaborate. With $400k, I can put a $100k down payment on FOUR $500k three-plex or even four-plex multi-family homes in upcoming markets like Detroit, Tacoma etc (or 4 duplexes in more expensive markets like Seattle, Livermore etc).
I can then rent them out and have a $500 minimum cash flow on each property. Assuming it’s 4 duplexes only, that’s $2k in CASH-FLOW every month after paying all mortgage + utilities + property taxes + insurance. Oh, and the tenants are the ones paying for all this!!! Oh, and I’ll be increasing rent every year by a certain amount every year (God Bless America where this is an actual practice that property owners use) so I could increase my cash-flow to about $3500 in a short period of time.
After 10 years, American real estate has shown that appreciation will be up by a few hundred thousand dollars and I can use the equity as down payment to acquire yet another multi-family home.
I cringe when I see diaspora Kenyans building mansions in some village in shithole Kenya. Even those who spend 15M on a two bedroom apartment in Kilimani are idiots. I should start a masterclass on how to make money and market it towards diaspora Kenyans. I have no idea why those people always gravitate towards investing UKO NYUMBANI instead of looking forward like other races.
I see them buying property for 50M and struggling to find someone who’ll pay 150k in rent YET they could make $3k here in America with such investments. They always have one foot in America and the other foot back home in the little villages they grew up in as they reminisce over Njoki and Wanjiku instead of trying to meet Madisons and Kellys where they live.
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The price of a property should be determine by demand and supply. Here in Kenya it’s all about speculation. We have aggressive advertisement to hoodwink Kenyans to buy property at exaggerated price due to fear of missing out.
Brokers Pia hao wamewekelea mashida zao zote hapo.
Another thing is that when people in mature economies pay $400K for a house, they realistically expect the value to grow in the next 10 years, as well as planned development of the area where they build. In kenya you buy a 50 million house, tomorrow someone comes and puts up a 5 stroy bedsitter next to your mansion, the government stops maintaining the roads, and water comes once a month.
Asin there is noting special about being in a 50 million house, infact, you are more attractive to criminals unless you spend money installing barbed wires, and turn your house into a prison complex with electric fences, and pay for amred police men.
There is:
No security
No water
No power
No road maintenance
In developed countries, you pay 400K plus for the full experience. Your children go into a good neighborhood public school, there is water, there power, and the local government maintains everything.
Except for ego, there is no reason to pay 400K for a house
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1000%!!
Buying a house or building one in Kenya should only be done for personal/emotional reasons and not with the need to have a sound investment because it’s simply not. An economy like Kenya’s is simply too basic to start playing the real estate game because the odds are just not in your favor.
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Diaspora Kenyans are easily hoodwinked.
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Would you dare to let your wife know what your side chick can offer after her trying to use pssy as weapon against you?
Kunyonga 
ni free jibu linakosa
In Kenya and I quote “you can buy yourself from the port to state house.” No sane mind would INVEST in a country without proper and elaborate property rights. Those dollars will always flow elsewhere. Funny thing, the big bucks are not in private hands, they are in pension insitutions, hedge funds and insurance companies where due diligence is properly done. Without law and order, well, it’s a fools
errand.
Shida ya Mozambique is it’s an unpredictable, lawless hellhole. But I have seen the country is really beautiful, if they get their shit together wanaweza kuenda mbali sana.
5m ??
go to bevely hills and see how much land and houses are sold there then come back with this sentiments.In real estate its all about location location location.
You guys have also to consider the buyers in Kenya and their attitude. I will say that this house is for sure overpriced.
I’ve sold a house that I owned and I involved very few brokers because they overinflate your asking price and you end up getting zero interest. The other issue is usual Kenyans lowballing. You’re asking for 20M and someone tells you 10M cash…meffi Sana.