Expatriates drive take-up of residential properties

Demand for good quality accommodation in prime areas is driven by expatriates, primarily from oil & gas/energy companies, banks and financial institutions sector, diplomatic missions, and aid agencies. In addition, Diasporas have been driving demand up to some extent in Kenya. This has led to a stagnation of development projects, particularly in the mid-market segment. High-end residential property sales remain largely unaffected. Recognizing the need for housing in the low- and mid-market segments, national governments have been making efforts to provide affordable low-cost housing by allowing higher densities within cities and opening up new nodes in the outskirts.

Although, high construction and finance costs are a barrier: The high mark-up on costs is usually the difference between purchase price and transportation costs. Moreover, the lack of easy access to finance, and the high mortgage lending rates has resulted in a stagnating market for home ownership. Furthermore, the poor quality of construction in commercial as well as residential space has resulted in lesser take-up of such properties, leading to dead supply stock in the market.

Take up this opportunity and invest with us at Ndatani Enterprises Co Ltd.

BREAKING NEWS-AFTERSHOCKS, WIDESPREAD DAMAGE HIT JAPAN AFTER 6.5 MAGNITUDE QUAKE KILLS 9,INJURES 800

MASHIKI, Japan (KABC) —
Aftershocks rattled communities in southern Japan as businesses and residents got a fuller look Friday at the widespread damage from an unusually strong overnight earthquake that killed nine people and injured about 800.
Rescue workers were combing through the wreckage in hard-hit areas to make sure there were no more trapped people, said Shotaro Sakamoto, a Kumamoto prefecture official. Concern about aftershocks was keeping many people from starting the huge task of cleaning up, police said.
Prime Minister Shinzo Abe told reporters the government wants to prevent any secondary disasters from aftershocks.
The magnitude 6.5 quake struck at 9:26 p.m. Thursday at a depth of 11 kilometers (7 miles) near Kumamoto city on the island of Kyushu, the southernmost of Japan’s four main islands.
About 44,000 people evacuated their homes and stayed in shelters overnight. Many left the next day, but Sakamoto said he wasn’t sure if many would come back to stay another night, depending on the conditions of their homes and if power is restored.
In the hardest-hit town of Mashiki, about 15 kilometers (9 miles) from the center of Kumamoto city, entire buildings collapsed, roofs slid off, and windows and walls crumbled, scattering glass and debris.
Huge boulder-like rocks tumbled from the walls of historic Kumamoto castle, which was closed to the public Friday.
Five women and four men were killed, the Fire and Disaster Management Agency said. One man in his 20s died; the rest of the victims ranged from their 50s to one woman in her 90s. Eight of the nine victims were from Mashiki.
There were varying reports on the number of injured. The government’s chief spokesman, Yoshihide Suga, said at least 860 people had been injured, 53 seriously. Kumamoto prefecture tallied 784 injured.
Suga said 1,600 soldiers had joined the relief and rescue efforts. TV reports showed troops delivering blankets and adult diapers to those who took shelter.
The area is 1,300 kilometers (800 miles) southwest of Tokyo.
Rescue efforts, repeatedly disrupted by more than 100 aftershocks, continued through the night. Japanese television showed a baby wrapped in a blanket being carried out of the rubble of a home.
Electricity and water service was cut off in some area, and some residents were hauling water from local offices to their homes to flush toilets.
TV broadcasters were urging residents to check on elderly people living alone who might not have been able to escape their homes unaided.
Suga said there were no abnormalities at nearby nuclear facilities. The epicenter was 120 kilometers (74 miles) northeast of Kyushu Electric Power Co.’s Sendai nuclear plant, the only one operating in the country.
Most of Japan’s nuclear reactors remain offline following the meltdowns at the Tokyo Electric Power Co.’s Fukushima plant in 2011 after a magnitude 9.0 earthquake triggered a huge tsunami.
According to the Japan Meteorological Agency, Mashiki sits near two faults on Kyushu. The area is also near Mount Aso, a huge, active volcano. JMA officials said the quake was unusually strong for Kyushu
Courtesy. Eyewitness News

HOW TO PAY YOUR MORTGAGE PAINLESSLY IN REAL ESTATE INVESTMENTS.

Chances are your home mortgage is the largest debt you’ll ever have.How would you

like to pay it it off and run your mortgage contract through the shredder a lot faster

than 30 years for which most homeowners sign up?

Here is a review of some key hints to work on;

1)Try making bi-weekly mortgage payments.

A year has 12months,homeowners make 12 monthly mortgage payments.Buy if you

consider half-sized payments every 2weeks(biweekly)you’ll sort out in 26 half

payments,an equivalent of 13 full payments.Pointfully its like making 13 full

payments every year instead of usual 12.Consult from the lender before youll engage

in mortgage and they’ll advise on how to do it.

2)Pour every bit of your little cash into mortgage.

Dedicate every windfall-raise,bonus or gifts.Obviously,the highest mortgage debt

takes priority .Dont even ask yourself what youll do with your extra bob when it falls

into your hands;add it to to your mortgage payment designating it as additional

principal.

CONCLUSION

Essentially,mortgage debts should or must not brake you from investing in land on

basis of debt headaches.If you plan your payments,for instance using one above hints

it’ll never ever retard you from your investment scenario where your full mentality

is occasioned.

CHAMA INVESTMENT IN KENYA

Chama groups started way back in time with our grandmothers always meeting on Sundays for a cup of tea but not having a constructive agenda on the table. However, the Chama groups in time transformed to business empires and bought properties as members became more knowledgeable on investment issues. Chama groups has so far attracting huge support from leading banks and Saccos, like Rafiki Microfinance bank which organized Chama awards in 2014 and Currently Unaitas Sacco which started as a Chama group and has now introduced a Top Chama Reality Show which runs on Citizen TV to award the best Chama group to tune of 5million Kenya shilling.

A Chama group being an informal cooperative society that is normally used to pool and invest savings by people. The Chama phenomenon which is also called micro-savings group helps in raising substantial amounts that members can invest in areas of interest especially in property. Usually the group members contributes a certain amount of money every month to go to savings for investment.

High Returns on Savings
Case study: A group of 10 members contributing 4,000 per month thus raising 40,000 per month can be able to own a piece of land with accredited land selling companies such as Ndatani Enterprises , for example 50/100 piece of plot in Isinya goes for 445,000ksh  with ready title deed. By the time the Chama group is on the fifth plot, i.e. in 5years the first plot will be worth double the purchase price hence handsome returns eventually each member will be a plot/home owner at favorable contributions per month. This is the easiest way to comfortably own a plot, visit www.ndatani.com.

Land prices pick up pace with over 10% annual increase on average

Analysts suggested the rush by buy-to-let landlords, second home buyers to and buy land to speculate beat the rise in stamp duty had pushed prices up.

Kenya land price growth has picked up to hit an annual rate of 10.1%, a one and a half year high, but could ease in coming months according to the country’s biggest mortgage lender.

The price of an average 1/8^th acre plot rose to Kshs. 500,000 in March, up 12.7% from the month before. Land prices in the three months to March were 2.9% higher than in the final quarter of 2015. The annual rate rose from 9.7% to 10.1%, the strongest since the three months to July 2014.

However, the next two months could see a lull, as Ndatani M.D. Mr. Alex Muema, explained: “Worsening sentiment regarding the prospects for the Kenya economy, falling banking industry and uncertainty ahead of the Kenyan general election in August, 2017 could result in some softening in the land market over the next couple of months.”

But in the long run, land prices are likely to push higher as demand continues to outstrip supply, experts say.

Alex noted: “Current market conditions remain very tight with an acute supply/demand imbalance continuing despite an improvement in the number of properties coming on to the market for sale in recent months. This, together with continuing low interest rates and a healthy labour market, indicate that land price growth is set to remain robust.”

Prices of flats have risen more sharply than prices for other property types since 2008, rising 57% compared with a 37% increase for all residential properties.

Concluding on the experts advice, this the time to invest in property.