Nairobi County to spend Sh40bn in housing project

Nairobi County plans to allocate Sh40 billion to build 14,000 residential units in the first phase of a scheme that will see its old houses pulled down. Most of the homesteads are in the Eastland’s area and, according to County Executive Committee member for Planning and Housing Tom Odongo, the scheme will see over 100,000 housing units built to house 650,000 people.

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Land grabbing is a disease, but it’s treatable if you detect it early

The recent #OccupyPlayground saga, where an unknown/unnamed/unidentified /mysterious land grabber drew the wrath of Lang’ata Road Primary School child-activists has drawn attention to the impunity of land grabbing cartels. The tragic episode that saw the young activists teargassed, was a clear indicator that the Government needs to seek persuasive ways, if they ever hope to reduce the incidents of police protecting land grabbers in Kenya and turning against children. Continue reading

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How the highs and lows of real estate in 2014 shaped sector

Stakeholders in the real estate industry agree on one thing; that the year 2014 has been quite fruitful for the industry. The market is yet to mature, the spring is yet to really dominate its steps, but its future looks strong. Great opportunities, it seems, await the forward-thinking investor who plants his or her seed in the sector.

The year’s success, however, is tied to the spill-over effects from 2013, the election year during which investors hoarded their monies for fear of the political risks associated with electioneering.
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When Your Dream Home Turns into a Nightmare

Since Jane Wangui and her husband purchased  their home in Lower Kabete, Nairobi, it has been a cat-and-mouse game with the seller. For seven years, they have pursed the developer to hand over the land titles, to no avail. They have hired lawyers to follow up on the case, but “they vanish along the way”.

“We don’t know why these lawyers disappear,” she says. Together with 11 buyers, they each bought a house for Sh15.5 million. But on its completion, the seller raised the price to Sh17.5 million. Continue reading

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Nairobi’s hustling contractors

It is early Monday morning on Nairobi’s Moi Avenue where we meet casually dressed men in their 20s, 30s and 40s around Tembo Co-operative House and Rahimtula Trust Building.

Some are standing in groups of three, five or eight, while others are sitting on an old bench bantering. Some of them are holding their tools of trade, including Continue reading

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The Growing & changing landscape of Nairobi’s Metropolis

Nearly all of the tallest buildings in Kenya are to be found in Nairobi. Except for maybe Bima towers in Mombasa no other building in Kenya can squeeze itself among the top 20 buildings in the country. Nairobi dominates in anything that has to do with real estate in Kenya; whether residential or commercial.   Nairobi is Kenya center of innovation, industrialization, education and culture. It also generates almost half of Kenya’s GDP and employs 25% of Kenyans and 43% of urban workers in the country.  The city is also hosts the United Nation’s regional headquarters and is also home to Coca Cola, General Motors and Google headquarters. Nairobi is home to three quarters of the millionaires in Kenya having 6, 200 high net worth individuals.

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What do you expect from your real estate agent?

Do you have high expectations of your real estate salesperson or are you just happy if they show up, fill in the paperwork and bring you an offer? Do you ask several questions or do you just answer some questions and hope the whole thing just goes away?

Sometimes I forget what it’s like not to know what is involved in the whole real estate process. Sure, for the first time homeowner it’s a whole new process, but it is also a confusing thing for many buyers and sellers. Most people who buy and sell a home haven’t done it in years so the things I consider routine are anything but normal. And forget about those strange circumstances that come up.  Continue reading

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Spending Wisely During Christmas Holiday

Christmas is the biggest celebrated holiday around the World. However, the greatest challenge people encounter or face is spending wisely during the festive season. The following are tips which will guide you in preparing for your Christmas Holiday.

Prepare a budget. While preparing for your budget, make sure that you set and calculate on how much you are willing to spend. This includes all the entertainment, decorations, gifts and travel if you are going to spend your holiday in another location. When you have set your budget it is advisable you stick to it but it is not a must, you can as well adjust and stay under the budget which is even better because in the following weeks you will be financially stable. Continue reading

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Look to the future when buying your Home

With today’s interest rates at near record lows, many people are recognizing that a mortgage payment on a house can actually be comparable to what they would spend on renting an apartment or home.  Perhaps you’re one of them and are ready to take a step up the property ladder.

For most people, buying a home is the most significant financial investment they’ll ever make, and there’s a lot of planning that goes into a successful transition.  With that in mind, here are a few tips to help you navigate the home buying process: Continue reading

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Benefits Of Owning Your Own Home

Immediate surroundings Control

You can change things and decorate to your tastes, and not be limited by the standards of a landlord. You do not have to seek someone else’s approval if you decide to remodel or alter the landscaping. Your home truly is your castle.

Freedom.

There is the freedom that you feel once you have achieved this major goal in life. Many first-time homebuyers find that once they have bought a house, many other aspects of their personal life seem to fall in place. The security and peace of mind that come with home ownership is a great accomplishment in many people’s lives, and once they have overcome the obstacles, they find that other goals they had set out to achieve become much easier to attain. Continue reading

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