Nipate
Forum => Kenya Discussion => Topic started by: KenyanPlato on January 11, 2024, 05:52:18 PM
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Buying land in Nairobi or elsewhere as a speculative investment is a waste of time and money. Land generally appreciates about 5 percent per year. This appreciation is way below inflation plus currency depreciation. The other biggest hinderance is the ability to sell land. If you need immediate cash flow depending on the size and value of land it could take a considerable amount of time to sell the land.
The only reason why land was expensive in Kenya in the past was due to lack of infrastructure such roads, water, electricity, sewer etc. Now that the govt has opened up most of the land around the cities the land values need to drop to match this new reality. A lot of kiambu, lower muranga, machakos, kajiado, and other counties are now able to move out of Nairobi and settle in their home counties as the roads have made it easier to commute. The whf will accelerate in the coming year, if the prices of starlink go down you will see a lot of workers from far flung counties telecommute from these remote locations further pushing down the prices of land in urban areas.
I was talking to a bank executive who had invested in land in mavoko in the 1980s with plans to sell this land to send his son to uni in USA. He was telling me that the market price of this land is so high that he hasn't had any buyers willing to pay the current mkt price so he he is considering selling it the lower price than he would have wanted to. He told me that the era of land speculation in Kenya is over.
Buy other investments or develop your existing land and stop parking your retirement money in dead capital
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Its okay to have a plot in kitengela or ruiru with a little income of even 3% annually since its long term and low risk.The other alternative would be buying farmland and planting maybe avocado or banana and earn some normal life income.That thing of speculative buying is very difficult and may lead to unreasonable expectations.
The only bad real estate investment is buying a 50x100 plot in samburu,tana river or ole nguruoni.you cant farm or build an apartment and you cant find a buyer.
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my friend is selling 15 acres of land in isinya ; direct transfer. asking price ksh 4 million per acre. a good deal if you asked me. inbox if interested.
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my friend is selling 15 acres of land in isinya ; direct transfer. asking price ksh 4 million per acre. a good deal if you asked me. inbox if interested.
How far from Isinya town? How far from Nairobi to Namanga road. It would be helpful if you have exact Google earth coordinates. Thanks
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Why would anyone buy land in isinya.thst kind of money can buy you a house in USA or you can invest in bonds
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Buying land in Nairobi or elsewhere as a speculative investment is a waste of time and money. Land generally appreciates about 5 percent per year. This appreciation is way below inflation plus currency depreciation. The other biggest hinderance is the ability to sell land. If you need immediate cash flow depending on the size and value of land it could take a considerable amount of time to sell the land.
The only reason why land was expensive in Kenya in the past was due to lack of infrastructure such roads, water, electricity, sewer etc. Now that the govt has opened up most of the land around the cities the land values need to drop to match this new reality. A lot of kiambu, lower muranga, machakos, kajiado, and other counties are now able to move out of Nairobi and settle in their home counties as the roads have made it easier to commute. The whf will accelerate in the coming year, if the prices of starlink go down you will see a lot of workers from far flung counties telecommute from these remote locations further pushing down the prices of land in urban areas.
I was talking to a bank executive who had invested in land in mavoko in the 1980s with plans to sell this land to send his son to uni in USA. He was telling me that the market price of this land is so high that he hasn't had any buyers willing to pay the current mkt price so he he is considering selling it the lower price than he would have wanted to. He told me that the era of land speculation in Kenya is over.
Buy other investments or develop your existing land and stop parking your retirement money in dead capital
Largely true however the problem is those who buy land for speculation or reselling like you have pointed outut if you buying for keeping no problems no pressure myself i bought so much land and I thank God for that I just want to pass it to my kids nephews etc no pressure. Kikuyus have no attachments to land Merus do. Kikuyus buy and sell Merus rarely sell but buy.
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I will get the finer details like distance from isinya town etc. Njuri, guys are buying land hapo Isinya especially Saccos. Kitengela is nearly sold out so the big thing now is Isinya. Its fairly priced compared to, say, Kiambu.
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I will get the finer details like distance from isinya town etc. Njuri, guys are buying land hapo Isinya especially Saccos. Kitengela is nearly sold out so the big thing now is Isinya. Its fairly priced compared to, say, Kiambu.
From kitengela all way to kajiado lots of land companies selling land i bet all that land has been divided into 50 by 100s, i myself found those areas to be good as they are cosmopolitan and pose lovely sceneries,the government should just up the infrastructure and social amenities and create liveable cities
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Why would anyone buy land in isinya.thst kind of money can buy you a house in USA or you can invest in bonds
Not everyone wants to enjoy their retirement in a Nursing home.
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Not everyone wants to enjoy their retirement in a Nursing home.
:D :D :D
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Why would anyone buy land in isinya.thst kind of money can buy you a house in USA or you can invest in bonds
Not everyone wants to enjoy their retirement in a Nursing home.
How will land help you if you become disabled. I would rather have 24 hours care than be in Kenya where old people die in the a soiled environments because they cant afford care
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Why would anyone buy land in isinya.thst kind of money can buy you a house in USA or you can invest in bonds
Not everyone wants to enjoy their retirement in a Nursing home.
How will land help you if you become disabled. I would rather have 24 hours care than be in Kenya where old people die in the a soiled environments because they cant afford care
Plato, each time you post on this topic you just expose yourself as a lost African soul. See I never agree with @Patel on anything but on this one he has hit it out of the park.
Lemme answer you point by point
1. How will land help you if you become disabled? Land in Zamunda is an asset. It s an investment, a security in old age. It can be resold, meaning it can take care of your health tourism when seeking treatment anywhere. Cash will buy you all the care you need in the home. A nanny in Kenya is affordable when compared to majuu. Land is also the greatest gift you can bequeath your offspring. If you have land to give out, it means your children will ever be present by your side because they will not want to miss out on the wealth you prepared for them without their input.
2. The people you are insulting eti they cannot afford care are precisely the people you are wrongly advising not to invest for their sunset years. If you bought acres and acres of land how will you be unable to afford care? How or why should they die in a "soiled environment" when they have 15, 20 acres that they invested for speculation? Did Kirima die a poor man when he owned all those acres of land in Nairobi? There is a question we always ask in our community when we see an old person suffering and unable to take care of themselves: Kwani hiyu hakuzaa watoto?
My mom will be 82 this January. Happy birthday mum in advance! In her humble mansion she lives or is kept company by just one house girl who cleans and cooks for her. Mum is in good health for her age. We thank God. Some of her kids and those relatives she helped bring up, either pop by ever so often or are slowly retiring to her neighborhood. As is a ritual, at Christmas and new year everybody was home including those of us living abroad.
3. Lastly someone needs to remind you of this quote: East, West, home is best.
Ni hayo tu. You are 62. Your work is done in the US. Think about spending your sunset years at home.
Sorry. Didn't mean to write an insha but thought I should cover all the angles.
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That House girl wont be able to take care of your mum once her decline starts. If she develops pressure ulcers, other complications she would need a battery of care givers. A good competent cna in Kenya costs 1,500 a day. You need two cnas to lift someone. A good hospital bed is 200K, a good wound doctor will be 10k a visit and a good 4 day hospital will set you back 300k FOR 3 DAYS. Homecare in Kenya when done right is expensive. My dad budget a month in his last 3 years of life was about 250k a month. Very few people can afford that in Kenya. You will die from the first serious infection you get in zamunda. Land is the most illiquid asset in Kenya. My advise to you is to invest in liquid assets like bonds and stocks. Real estate can provide cash flow to take care of you. Why would you leave America where your MEDICAL Care is free. You have been paying 4 percent of your income into Medicare insurance why not stay around so that this insurance can take care of you. Majority of Kenya s in USA will die before the age of 70. so be ready to only live in zamunda for 8 years only before you die then your land will taken over by your relatives leaving your kids poor. I won't relocate to a third world country
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There are always several large farms in Kiambu and Murang'a being subdivided at any particular point in time. Saccos like Unaitas do offer financing.
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Plato na watu wa upande ile wa Zamunda, this is what awaits you should you be thinking of going home .....
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This article has caused many to reflect on their own lives. The author is a retired Writer who describes her emotions as she prepares to move into a Nursing Home.
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I'm going to a Nursing Home. I have to. When you are no longer able to take care of yourself, your Children are busy at work and have to take care of their own Children and no one has the time to take care of you, this seems to be the only way out.
The Nursing Home is in good condition, with clean single rooms equipped with simple and practical electrical appliances. All kinds of entertainment facilities are available on site, the food is fairly delicious, the service is also very good. The environment is manicured and very beautiful, although the price is not cheap.
My Pension is barely able to support this. But I have my own house. If I sell it, then money is not a problem. I can spend it on retirement and the rest will be left as an inheritance for my son.
He understands very well and said to me: "your money and your property should be enjoyed by YOU, don't worry about us."
Now I have to consider preparing to go to a Nursing Home. I look around my house filled with suitcases, boxes, bags, cabinets, and drawers containing all kinds of necessities, frivolities, and excesses. There are whimsical purchases, art collections, all sorts of clothing, expensive beddings, exclusive silver cutlery and gold accentuated Dining Sets.
I like to collect. I have collected a lot of stamps and many small collections of pendants of emerald, Walnut amber, and two small yellow croakers.
I am especially fond of books. The bookshelves on my walls are full of books that were hardly read.
There are also dozens of bottles of good foreign Juices. There are full sets of household appliances; various cooking utensils, pots and pans, a treasure trove of spices, various seasonings and loads of food staples like Rice, Pasta, frozen fish and meat etc. In fact the kitchen and pantry are full to the brim! As if I had a Dormitory of Children to feed!
Then there are the family memorabilia. Dozens of video cassettes, obsolete tape reels, and over a 100 photo albums of great aunts, great uncles, great grandparents, parents, uncles, aunts, cousins, nephews, nieces, and friends scattered around the world. Many of them have long departed this earth and many more are in their twilight years, waiting for God to call them.
I look at this huge collection of things and I'm deeply worried and sad in equal measure. The Nursing Home has only one room with a cabinet, a table, a bed, a sofa, a refrigerator, a washing machine, a TV, an induction cooker and a microwave oven -- all the things I will really need.
There is no place to store the wealth and whimsies that I have accumulated throughout my life.
At this moment, I suddenly feel that my so-called wealth is superfluous and it doesn't belong to me. I just take a look at it, play with it, use it. It actually belongs to no one. The "wealth" I claimed as my own was only passing by. Now, it is no longer mine and these items will pass on to someone else or to somewhere else until they wear out or are destroyed.
Even the house I laboured, sweated, and saved to build will not remember me. The next owners will have no idea who I am and what it meant to me. I will be no more than a shadow in the garden as they eat from the apple tree I planted and enjoy the luminous flowers I planted in "my garden" of serenity.
Oh! What a fool I have been! I should have focused on enjoying my time here rather than constantly tinkering and labouring!
Whose Palace is the Forbidden City? The Emperor thought it belonged to him, but today it belongs to the people and society.
I really want to donate the things in my house, but I can’t get it done. To deal with it has now become a problem. Very few youngsters will value what I have collected. It's old junk to them. I can imagine what it will be like when my Children and grandchildren face these painstakingly accumulated treasures. The clothes and bedding will be thrown away; dozens of precious photos will be destroyed; books will be sold as scrap. The mahogany furniture is not practical and will be sold at a low price or given away.
So, I only picked a few favourite items. I only kept a set of pots and pans for kitchen supplies; a few books that are worth reading; a handful of teapots for tea. I took along my ID Card, Senior Citizen Certificate, Health Insurance Card, household register, and of course a bank card. Enough!
I bid farewell to my neighbours, I knelt down at the door and bowed three times and gave this home back to the world.
Yes! In life, you can only sleep in one bed, live in one room. Any more of it is merely for watching and playing!
Having lived a lifetime, people finally understand: we don’t really need much. Don’t be shackled by superfluous things to be happy!
It's ridiculous to compete for prominence and fortune. Life is no more than one bed, one set of clothing, and one meal at a time. You may have ten million of these items but you can only use one at a time.
For people over 50 years old, shouldn't we think carefully about how to spend the remainder of our journey on earth? Shouldn't we be teaching our Children about values that really matter? Let go of fantasies, baggage and accumulation of things that can't be eaten, worn or used everyday.
Be Healthy and be Happy💞
..............COPIED.......
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Why would anyone buy land in isinya.thst kind of money can buy you a house in USA or you can invest in bonds
Not everyone wants to enjoy their retirement in a Nursing home.
How will land help you if you become disabled. I would rather have 24 hours care than be in Kenya where old people die in the a soiled environments because they cant afford care
Plato, each time you post on this topic you just expose yourself as a lost African soul. See I never agree with @Patel on anything but on this one he has hit it out of the park.
Lemme answer you point by point
1. How will land help you if you become disabled? Land in Zamunda is an asset. It s an investment, a security in old age. It can be resold, meaning it can take care of your health tourism when seeking treatment anywhere. Cash will buy you all the care you need in the home. A nanny in Kenya is affordable when compared to majuu. Land is also the greatest gift you can bequeath your offspring. If you have land to give out, it means your children will ever be present by your side because they will not want to miss out on the wealth you prepared for them without their input.
2. The people you are insulting eti they cannot afford care are precisely the people you are wrongly advising not to invest for their sunset years. If you bought acres and acres of land how will you be unable to afford care? How or why should they die in a "soiled environment" when they have 15, 20 acres that they invested for speculation? Did Kirima die a poor man when he owned all those acres of land in Nairobi? There is a question we always ask in our community when we see an old person suffering and unable to take care of themselves: Kwani hiyu hakuzaa watoto?
My mom will be 82 this January. Happy birthday mum in advance! In her humble mansion she lives or is kept company by just one house girl who cleans and cooks for her. Mum is in good health for her age. We thank God. Some of her kids and those relatives she helped bring up, either pop by ever so often or are slowly retiring to her neighborhood. As is a ritual, at Christmas and new year everybody was home including those of us living abroad.
3. Lastly someone needs to remind you of this quote: East, West, home is best.
Ni hayo tu. You are 62. Your work is done in the US. Think about spending your sunset years at home.
Sorry. Didn't mean to write an insha but thought I should cover all the angles.
Well put if Plato doesn't get this then no other explanation can, Especially for men owning land is almost an primordial instinct, its not for sale always but also for permanent keep a man only wish would to be buried in his own soil. A man can loose everything in his life but as long as he has that place where he calls his own soil he will be satisfied.
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For someone living in primitive Kenya land is everything but for enlightened investors land is dead capital.
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A story to ponder on the subject
https://mwakilishi.com/article/diaspora-news/2024-01-21/mystery-surrounds-death-of-kenyan-innovator-in-the-us-as-family?cid=h
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The deceased seems to have had the wrong "friends" out there. Those are conmen. The family should engage a good lawyer in the US. It will cost an arm and a leg, but in the end they will get justice and also the rest of the deceased's estate.
A story to ponder on the subject