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8 Pages«<678
Insightful take on Nairobi Real Estate
wukan
#141 Posted : Tuesday, August 20, 2019 4:10:53 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,379
Kusadikika wrote:
Meanwhile

Properties being held by banks for auction:

https://www.garam.co.ke/...-forwards-July-2019.pdf


Very juicy propertiessmile smile
Property 219 Kirinyaga road total p.m. Kshs 666,500/= price guide 60m. Yield 13.3%

BUT...."The Immediate access road is also tar-surfaced but is currently overcrowded with motor vehicle garages."
dunkang
#142 Posted : Tuesday, August 20, 2019 7:32:15 PM
Rank: Elder


Joined: 6/2/2011
Posts: 4,813
Location: -1.2107, 36.8831
wukan wrote:
Kusadikika wrote:
Meanwhile

Properties being held by banks for auction:

https://www.garam.co.ke/...-forwards-July-2019.pdf


Very juicy propertiessmile smile
Property 219 Kirinyaga road total p.m. Kshs 666,500/= price guide 60m. Yield 13.3%

BUT...."The Immediate access road is also tar-surfaced but is currently overcrowded with motor vehicle garages."

Mimi hiyo No. 31
Receive with simplicity everything that happens to you.” ― Rashi

Angelica _ann
#143 Posted : Tuesday, August 20, 2019 11:45:21 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,455
dunkang wrote:
wukan wrote:
Kusadikika wrote:
Meanwhile

Properties being held by banks for auction:

https://www.garam.co.ke/...-forwards-July-2019.pdf


Very juicy propertiessmile smile
Property 219 Kirinyaga road total p.m. Kshs 666,500/= price guide 60m. Yield 13.3%

BUT...."The Immediate access road is also tar-surfaced but is currently overcrowded with motor vehicle garages."

Mimi hiyo No. 31


Looks good & affordable. GL!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
wukan
#144 Posted : Wednesday, September 04, 2019 1:01:37 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,379
1st Half Knight Frank report...not looking good in matters real estate

Quote:
Rents for prime retail shops decreased by approximately 5.9% to US$ 4.8 per square foot per month in the first half of 2019, while service charges across retail malls in Kenya ranged from Ksh 45 to Ksh 60/sq ft/month. The decline in rentals is mainly attributed to the current economic situation and less money in circulation, resulting in reduced spending by consumers. Additionally, oversupply of retail space in certain locations has resulted in pressure on landlords to provide concessions and other incentives to attract new or retain existing tenants, making the sub-sector a tenants’ market


Quote:
Absorption of Grade A and B office space in Nairobi declined by 8% in the period compared to the second half of 2018. The decline in office uptake and stagnation of rental prices is mainly attributed to the continued oversupply of commercial space in some locations and the current economic slowdown. As a result, some landlords are providing concessions such as longer fit-out periods, partial contributions towards tenant fit-outs, or giving discounted rentals so as to retain existing tenants and attract new one


Quote:
Prime residential sale prices in Nairobi decreased by 1.8% over the first half of 2019 compared to a decline of 0.4% in the first half of 2018, pushing the annual decline to 6.7% in the year to June. Prime residential rents also declined over the review period by 1.68% compared to 0.33% over a similar period in 2018, taking the annual decline to 3.3% in the year to June. The decline in both prime residential sale and rental prices is mainly attributed to the continued oversupply of residential developments in certain locations such as Karen and the ongoing credit crunch which has resulted in reduced money circulation. These factors have transformed the market in favour of buyers and tenants, even as some multinationals continue to downsize while fewer expatriates are relocating to Kenya, impacting negatively on the niche market.
wukan
#145 Posted : Wednesday, September 04, 2019 1:06:53 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,379
Dubai meanwhile is in the mix of a major correction.

Quote:
Dubai’s ruler issued a directive on Monday that would curb the pace of new real estate construction projects as property prices fall and the sheer scale of developments threatens to outstrip demand.

Sheikh Mohammed bin Rashid Al Maktoum ordered the creation of a committee to study the needs of the real estate market, evaluate all future projects and control the pace of projects, a statement by Dubai’s Media Office said.

The move comes amid a slowdown in Dubai’s economy and a slump in real estate prices.

Dubai’s real estate sector is a bellwether for its economy. It not only caters to the emirate’s residents, but also attracts wealthy investors from around the world seeking a safe place to put their money.

Property values, however, have been steadily dipping. A report by UAE-based Property Finder found that Dubai apartment and villa sale prices for the first half of 2019 were down around 12% compared to two years ago.

https://www.apnews.com/7...bc048baabe4056025be75dd


Always wonder why anyone would buy property in a city designed for cars instead of people.
MugundaMan
#146 Posted : Wednesday, September 04, 2019 1:58:39 PM
Rank: Elder


Joined: 1/8/2018
Posts: 2,000
Location: DC (Dustbowl County)
wukan wrote:
1st Half Knight Frank report...not looking good in matters real estate

Quote:
Rents for prime retail shops decreased by approximately 5.9% to US$ 4.8 per square foot per month in the first half of 2019, while service charges across retail malls in Kenya ranged from Ksh 45 to Ksh 60/sq ft/month. The decline in rentals is mainly attributed to the current economic situation and less money in circulation, resulting in reduced spending by consumers. Additionally, oversupply of retail space in certain locations has resulted in pressure on landlords to provide concessions and other incentives to attract new or retain existing tenants, making the sub-sector a tenants’ market


Quote:
Absorption of Grade A and B office space in Nairobi declined by 8% in the period compared to the second half of 2018. The decline in office uptake and stagnation of rental prices is mainly attributed to the continued oversupply of commercial space in some locations and the current economic slowdown. As a result, some landlords are providing concessions such as longer fit-out periods, partial contributions towards tenant fit-outs, or giving discounted rentals so as to retain existing tenants and attract new one


Quote:
Prime residential sale prices in Nairobi decreased by 1.8% over the first half of 2019 compared to a decline of 0.4% in the first half of 2018, pushing the annual decline to 6.7% in the year to June. Prime residential rents also declined over the review period by 1.68% compared to 0.33% over a similar period in 2018, taking the annual decline to 3.3% in the year to June. The decline in both prime residential sale and rental prices is mainly attributed to the continued oversupply of residential developments in certain locations such as Karen and the ongoing credit crunch which has resulted in reduced money circulation. These factors have transformed the market in favour of buyers and tenants, even as some multinationals continue to downsize while fewer expatriates are relocating to Kenya, impacting negatively on the niche market.


Wukan, I love the way how every day your posts support my DC is the future assertion.

-You admitted that Nairobi core is DOOMED due to sewerage water coming out of the taps in Lavington!
- Now this!

Move away FAST to DC before Nairobi core completely collapses with oversupply,toxic sewage and a disaster of a toxic sludge bowl named Nairobi river coursing through all the poshest hoods causing skyrocketing levels of cancer!!
Laughing out loudly
**Destination 2k posts and it's curtains!****Dustbowl County is the Future of Kenya. Join us investing here or perish!!****I know you miss me but I'm NEVER coming back Laughing out loudly** shalom
wukan
#147 Posted : Wednesday, September 04, 2019 2:30:49 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,379
MugundaMan wrote:


Wukan, I love the way how every day your posts support my DC is the future assertion.

-You admitted that Nairobi core is DOOMED due to sewerage water coming out of the taps in Lavington!
- Now this!

Move away FAST to DC before Nairobi core completely collapses with oversupply,toxic sewage and a disaster of a toxic sludge bowl named Nairobi river coursing through all the poshest hoods causing skyrocketing levels of cancer!!
Laughing out loudly


One leaky pipe cannot doom Nairobi coreLaughing out loudly

Sit tight if Nairobi core sneezes DC will be out with pneumonia. Of all the options I have DC would be the last place.Laughing out loudly
MugundaMan
#148 Posted : Wednesday, September 04, 2019 3:26:06 PM
Rank: Elder


Joined: 1/8/2018
Posts: 2,000
Location: DC (Dustbowl County)
wukan wrote:
MugundaMan wrote:


Wukan, I love the way how every day your posts support my DC is the future assertion.

-You admitted that Nairobi core is DOOMED due to sewerage water coming out of the taps in Lavington!
- Now this!

Move away FAST to DC before Nairobi core completely collapses with oversupply,toxic sewage and a disaster of a toxic sludge bowl named Nairobi river coursing through all the poshest hoods causing skyrocketing levels of cancer!!
Laughing out loudly


One leaky pipe cannot doom Nairobi coreLaughing out loudly

Sit tight if Nairobi core sneezes DC will be out with pneumonia. Of all the options I have DC would be the last place.Laughing out loudly


Nairobi River is one helliuva "small leaky pipe" my braddah, wouldn't you agree?

Laughing out loudly Laughing out loudly Laughing out loudly
Laughing out loudly Laughing out loudly Laughing out loudly
Laughing out loudly Laughing out loudly Laughing out loudly



https://www.nation.co.ke...7058-107oy9o/index.html

https://www.businessdail...262-12jcmauz/index.html



My friend, the fact that you are not scared for your life when Nairobi River sewage water full of DEAD BODIES seems like a small leaky pipe to you scares me!Sad Sad Sad

Cancer rates do not skyrocket by accident. Most of these big shots dying of cancer have mansions next to the "small leaky pipe"

Have you jogged the bypass between Riverside Dr and Westlands Roundabout. My bradza, I made the mistake of stopping to peak into the Nairobi River below one day. The smell wauu wauu wauu. Then ten shondes floating fuaaa merrily down the river. Those veggies you buy at Chandarana and Zucchini are all grown with NBI river water bro.

Come to DC. Maji fresh flowing zwuuu nicely into our rain water tanks. Biodigester waste is PURE H20 and no need for exhausting. Veggies are CLEAAAAAAAAN and home grown in pesticide free soil. Eggs are of course Kienyeji from free range kuku. Life expectancy in DC will soon shoot to 100 while in Nai core the stress of smelling the floating shondes alone has reduced life expectancy to 55 at most in my humble view!
**Destination 2k posts and it's curtains!****Dustbowl County is the Future of Kenya. Join us investing here or perish!!****I know you miss me but I'm NEVER coming back Laughing out loudly** shalom
hardwood
#149 Posted : Wednesday, September 04, 2019 4:38:54 PM
Rank: Elder


Joined: 7/28/2015
Posts: 9,553
Location: Rodi Kopany, Homa Bay
Karen is also choking under sewerage. Residents cant sleep due to the sickening smell. No where is safe in the damn city....


MugundaMan
#150 Posted : Wednesday, September 04, 2019 5:01:53 PM
Rank: Elder


Joined: 1/8/2018
Posts: 2,000
Location: DC (Dustbowl County)
hardwood wrote:
Karen is also choking under sewerage. Residents cant sleep due to the sickening smell. No where is safe in the damn city....




Wukans paradise Laughing out loudly
What a pity.
**Destination 2k posts and it's curtains!****Dustbowl County is the Future of Kenya. Join us investing here or perish!!****I know you miss me but I'm NEVER coming back Laughing out loudly** shalom
wukan
#151 Posted : Thursday, January 30, 2020 12:42:22 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,379
interesting stuff....like I said if Nairobi sneezes DC will catch pneumonia

Quote:
HassConsult today released the annual Hass Property Index results for 2019, showing that property prices in satellite towns dropped by 0.5 percent on an annual basis, the first such drop since 2008 when the index was launched.

The fall in house prices in satellite towns on an annual basis bucks the trend as these suburbs have traditionally recorded annual growth in house prices driven by investors who are holding off buying decisions due to the challenging economic environment.

House prices in satellite towns drop by 0.5 per cent in 2019, the first ever drop since 2008, showing home buyers in these areas are finding the economic environment challenging.

Rents in Nairobi suburbs cool falling by 2.3 per cent on an annual basis and 1.3 per cent over the quarter

Juja recorded the highest drop over both the quarter and year at 1.9 percent and 9.6 percent respectively courtesy of a price correction in the satellite town.

On the rental front satellite towns recorded a 2.1 percent drop in rents over the year while Nairobi recorded a 2.3 percent
drop in asking prices over the same period.



Quote:

• In 2001, Apartments took up 23.5% of the market,
semi-detached took up 24.5% of the market and detached houses took up 52% of the market

• In December 2019 however, Apartments took up 61.1% of the market, Semi-detached Houses took up 25.7% of the market and Detached Houses took up 13.2% of the market

slick
#152 Posted : Thursday, January 30, 2020 2:18:48 PM
Rank: Member


Joined: 6/1/2017
Posts: 249
wukan wrote:
interesting stuff....like I said if Nairobi sneezes DC will catch pneumonia

Quote:
HassConsult today released the annual Hass Property Index results for 2019, showing that property prices in satellite towns dropped by 0.5 percent on an annual basis, the first such drop since 2008 when the index was launched.

The fall in house prices in satellite towns on an annual basis bucks the trend as these suburbs have traditionally recorded annual growth in house prices driven by investors who are holding off buying decisions due to the challenging economic environment.

House prices in satellite towns drop by 0.5 per cent in 2019, the first ever drop since 2008, showing home buyers in these areas are finding the economic environment challenging.

Rents in Nairobi suburbs cool falling by 2.3 per cent on an annual basis and 1.3 per cent over the quarter

Juja recorded the highest drop over both the quarter and year at 1.9 percent and 9.6 percent respectively courtesy of a price correction in the satellite town.

On the rental front satellite towns recorded a 2.1 percent drop in rents over the year while Nairobi recorded a 2.3 percent
drop in asking prices over the same period.



Quote:

• In 2001, Apartments took up 23.5% of the market,
semi-detached took up 24.5% of the market and detached houses took up 52% of the market

• In December 2019 however, Apartments took up 61.1% of the market, Semi-detached Houses took up 25.7% of the market and Detached Houses took up 13.2% of the market




Well at least Kenyan real estate isnt built up on ultra low interest rates,cheap lending and total disregard of credit analysis standards like the sub-prime mortgage mess of the US and currently the insane housing bubble in Australia,Canada and Hongkong.Such laxity creates enormous bubbles that violently burst like in the 2008 housing recession.

Just to leave a shocker here.SOME DANISH BANKS ARE OFFERING MORTGAGES AT NEGATIVE INTEREST RATES.WHAT!!!Check out below Danske bank in Denmark offering mortgages at MINUS 0.5% to ensure mass buying of houses and boost the economy.



https://www.cnbc.com/201...ive-interest-rates.html

What if Kenyan banks offered mortgages at negative interest rate ie. its almost the bank paying you to take a mortgage.Insane isnt it.Every Otieno,Wanjiku,Mutisya will line up to take such a mortgage

Contrarian Investor and Trader.Advocate of free markets,limited government interference in the economy and sound money
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