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@ochitunder can only relate to this.
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Blame shiney eyed people. Wakiingia mahali jua bei za shamba zitapanda.
Very few can afford to buy a land in that area. I feel thereās a false sense of affluence in Kenya especially when there are always news depicting a fast-growing economy.
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This is fcuking ridiculous, USD16 million for an acre of Land ?
Question is , in all this ridiculousness, what role do corruption and proceeds from Drug money play ?
Prices for high end areas/properties will continue going up as seen in South African Suburbs of Camps Bay and V& A Waterfront etc. Obscene prices of up to Ksh 6 billion are now being fetched for prime properties on very small pieces of landā¦and who are the buyers? Nigerians, Germans, Arabs and very few SA billionaires. I foresee a similar trend in Kenya where high end properties will continue to fetch top dollar from monied intl speculators, unless a calamity like post election violence befalls us. But middle income buyers who are relying on bank loans to make purchases of between Ksh30-100m might suffer pretty soon, that bubble is coming for them, sio mbirionaires kama sisi
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No regulationsā¦
wacha nilale naweza buy afew acres in my dream before midnight.
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You mean wayward capitalism?
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Yes
Hio kitu umeandika hapo ni matusi kubwa sanaā¦ Afande. His handle is @ochithunder
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INFLATION.
You pay MCAās , MPās, Senators millions in salary and allowances and they steal billions more. Senators, Women reps, and a fuckload of other government workers. Hii pesa ni mingi sana to pay people who add no economic value whatsoever.
Property prices are through the roof but sadly there are a few who can afford them without feeling a pinch. That is part of how corruption and drug money causes a vacuum that eventually collapses.
Ama namna gani
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:D:D:D
Thereās this development coming up in the area, canāt remember its name but they have erected flags as you drive up from Haile Selassie think by Hass Consult, have they done the ground breaking and prices of the apartments?
Tutangoja hio bubble ipasukeā¦ferk maina kageni
@Randy the village property cosultant
If you guys have time you should watch clips of Mark Blyth on youtubeā¦he is a scottish economist who predicted Brexit, the Italian referendum & the Trump win in very layman terms. His argument is that despite the regulatory environment in Europe & States banks found a way to game the system at the expense of the majority. When you see such land prices in kenya u have to wonder who is willing to spend on an obviously overpriced property. At the end of the day hii corruption tunaimba ndio tamaliza sisi.
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We participate in this stupidity every day.
And now they are offering green houses as an incentive to buy land
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The other thing is that big money appears to be in hands of idiotic copy-cats who cannot think of anything else except raising up ugly concrete jungles. I believe we will only grow when moneyed people(no matter the source of income) starts building industries instead of always thinking of apartments and highrise buildings. Eventually, who will rent these houses if no industries are coming up to absorb those graduating/those relocating from rural areas?.
I wish corruption is practiced by innovative people who will steal billions in order to establish an industry targeting export markets? Like say Kabura starts a wig manufacturing firm targeting African markets :D:D:D:D
We will never truly develop if all investments are put into real estate. Most developed countries focused on building industries/export oriented economies. No country develops through a āboomingā real estate sector.
Kenya must do all it can to DRASTICALLY reduce cost of production as it is only through real production that we can ever hope to create employment. Land speculation never leads to any meaningful growth.
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