Wueh! Talkers who live in London how exactly do you live juu I’m seeing dumps being sold huko at the price of gold. Check the dump in the video below that sold at auction for 388,000 pounds. That’s literally Ksh 70 million. Hiyo ni a proper mansion on half an acre in Karen. I thought property in Nairobi was expensive but huko London ni crazy. No wonder expats hukatalia huku.
i’m 25 minutes in it , and the guy has talked to about 3 or 4 renters, and the common denominator in all of them, is that of an upward of 3 roommates.
meaning, it’s challenging to have a family in London if you hold an average job (though i’m not sure how jobs pay over there ).
though London is a world capital, the influx of Russian and others has driven the prices of properties up.
Going by the comments on the video, it seems when the Kenyatta’s, the Moi’s and their political side kicks were acquiring properties in London, they did so below £100,000, and those properties are worth way over £1M, if they are in London.
i also admire how the first guy interviewed said he will be moving to Germany to go start his life again, that’s the way it should be in Africa,
I read a report about real estate in Hong Kong where they have cage homes. Huko its even worse. The median home costs 23 years worth of wages of the average person there. Basically, most people will never own property in their lifetime huko.
Judging by that trend in London, it is only a matter of a decade or two before such problems reach Nairobi. Already ukitembea tao usiku utaona homeless people sleeping on pavements. Huko Hong Kong people live in cages kama kuku because the prices of property are beyond reach for the bottom half of the population.
By the way, I also noticed that huko London most people share houses to split bills - something that is very rare in Kenya. That means most of the wealth in London is owned by very few people and everyone else is a shitmuncher.
seems like London is more of Hostile life, but the good thing is that outside of the city is affordable. In most Kenyan cities, what’s putting a roof to a good % of city dwellers are the slums and other not so good housing,
Capoteeeee , @TrumanCapote 
mbwa zangu zinaishi fiti kwa kennel bedsitter kuliko hizi junguu zako
London’s property prices can be jaw-dropping. It’s insane how much some places go for, right? I mean, you see these prices and think, “That’s a whole mansion back home!” It’s definitely a shocker, especially coming from Nairobi where property prices are already no joke.By the way, if you’re considering other investment options, in my opinion, checking out investment comparison sites could be worth a look. I’ve found https://meine-renditeimmobilie.de/en/best-investments/ helpful for exploring opportunities in the German real estate market. Just a thought as you navigate the world of investments.
I’d rather get a mortgage and purchase a £500k home in London than buy a house in Nairobi for £100k. The former has a more predictable real estate industry while the latter is based on mere speculation.
In London, that house will steadily appreciate, no developer will come to ruin the aesthetic of the city, infrastructure is great and properly maintained etc. Nairobi, as we have seen time and again is very very unstable. You can’t even get consistent renters and those renters go broke anyway because the economy can’t sustain high wages so people can’t afford to pay rents that a house worth £100k demands. I haven’t even mentioned that Nairobi is one natural disaster away from total collapse.
This is why I don’t understand why some diaspora Kenyans choose to invest in Kenya instead of where they’re domiciled. It’s the worst decision anyone can make in my opinion.
This is what 75m gets you in nairobi. A mansion on a 1/2 acre. Kenya is paradise, you live like a king.
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Judging by your airbnb hopping when you came to Nai shows that you have no clue about Kenyan real Estate market. You also possibly fraternize with Kenyans abroad who build these eyesores in Zimmerman and Pipeline which means you have no exposure to the diversity that is in Kenya.
You’re correct. I have no clue about Kenyan real estate. That’s a fact. However, the class of people that I interact with are far from those you’ve mentioned. The people I know own beach houses in the French Riviera and Southern Europe (even the Kenyans).
Even though I don’t know much about Kenyan real estate, I know for a fact that it should be valued at multiples less than what it currently is. All it takes is a sane government and the industry would crumble. Like I said, I’d rather own a pig sty in London than a ranch in Kenya.
{the Kenyans building Zimmerman eye sores are those who won green cards and came straight from the village to America. The Kenyans I know and went to school with are kids of old money Kenyans who own villas in the Atlantic Seaboard. Big difference}
But we don’t know which school you went to, so begs the question.
Those Kenyans you mention with real estate in Europe are heavily invested in Kenya. So you don’t know what you’re talking about other than trying to sound pompous.
The ROI for large scale investment is highest in Nairobi than London. I’m not talking about those single unit studios you stay in when you visit. I’m talking about blocks of apartments with high speed elevators, concierge service, shuttle service etc.
I have a feeling you didn’t stay in good side of town when you visited.
Nairobi is a paradox.
I’m not trying to argue with you because I’ve acquired a low tolerance for Kenya talk idiots. You are delusional to think that real estate margins are higher in Nairobi than in London. It actually looks like I know more about real estate in Nairobi than you do despite my little understanding of it.
The cost of apartments in Kilimani, Westlands, Kileleshwa and Lavington (your “greatest” market) has depreciated since 2013. Let that sink in. Someone who bought a 20M apartment in Kilimani circa 2013 will struggle selling it for 13M in 2024. Look it up!!
Meanwhile, western markets of equivalent property in let’s say NYC (West Village, East Village, Astoria, etc) have seen appreciation of more than 300%!! People who bought a 1 bed 1 bath apartment in NYC/London for $100k in 2013 are now getting offers in the range of $550k-$1M.
The problem with Kenyans is that you think Nairobi is the beginning and end of the world. Real estate developers in Kenya have hoodwinked you into thinking that Nairobi is the hottest thing since sliced bread. It’s not!
The only reason the Chinese and woriah are buying and developing real estate in that shit hole country is because the barrier for entry is very low. Your real estate is cheap compared to the western world. That’s why they come there and use their little money to do some real estate. No serious investor with boatloads of money is coming to Nairobi to develop real estate. Kenyans think too highly of that poop country.
I thought we were talking about real estate blocks of 200M ksh and above, not single single units. You like name dropping to seem credible but then you repeat the exact same thing I’ve said.
Living like a king in a house built in 1957? Old aged house, aged finishing. Even houses built in Kitengela today are beta designed.
I would have to totally renovate that house if I bought it today. External needs serious work too.
You’re an idiot if you think people are buying $1.5M apartment blocks in fucking Kenya, a poor third world country. A fucking idiot. Nobody is buying such in an unstable country with no laws.
Not buying, my lawd. Constructing to sell to you wannabes like you who are in Diaspora. I think you are now a troll
Are you an idiot? We started this argument because I said I wouldn’t buy anything in shithole Kenya. Most diaspora Kenyans actually stopped buying Kenyan real estate except those who came straight from the village.
Your successive comments went ahead to regurgitate exactly what I was saying. Your head is screwed on backwards.
