Connect with us

News

Nairobi homes still a good investment

Published

on

International realtor Knight Frank says Nairobi residential properties remain an attractive buy for rich families and global investors amid a 5.4 percent price drop in the last nine months.

In its third-quarter report that reviewed high-end house prices in 45 cities, Knight Frank noted house prices were still 30 percent higher than last quarter 2010.

“The values have been declining at varied rates year-on-year successively since Q3 2016.

However, values are still more than 30 percent higher compared to Q4 2010, validating prime residential properties as a good investment for capital gains,” it said.

Head of Agency Anthony Havelock said the falling prices were caused by the prevailing cash crunch largely blamed on low business activity coupled with a lack of credit.

“We have not reached the bottom of the cycle yet and we expect to see further reductions in the near-term until the macroeconomic and local situations improve. One of the major issues right now is illiquidity in the market,” he said.

Nairobi and Mombasa remain East Africa’s most attractive destinations for global high net worth individuals pursuing investment and leisure while Africa’s wealthy fly in seeking a better education for their children as well as private healthcare.

The Knight Frank report observed the prevailing hard economic times saw banks auction distressed residential properties at discounted prices.

Mr Havelock said this adversely affected the prices of properties in prime locations with oversupply fuelling further reduction of house prices as developers made efforts to avoid the auctioneer’s hammer.

“Deals are happening but are few and far between and at discounted rates. It will take time for the economy to rebound considering it is also not immune to external shocks,” he said.

Realtors have also blamed the interest rate cap law, which stifled access to credit for the past three years as lenders shied away from ‘risky’ borrowers.

In its third-quarter Housing Price Index, Kenya Bankers Association named the first nine months of 2019 as the worst year for the real estate sector in the past five years.

by nation.co.ke

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Meet the US based Kenyan girl whose speech at grandpa’s burial went viral

Published

on

A Kenyan woman residing in the US identified as Lilian Gaynor left social media in stitches due to her accent during her grandfather’s burial.

She was narrating how she was taught to bid her loved one’s farewell.

What caught the attention of many is the heavy accent, Lilian spoke with.

Lilian who is a fitness enthusiast and a mother of two had visited to bid farewell to her grandfather.

Speaking during the burial a composed Lilian, told the crowd of how confused she was when her uncle told her she had to add a little spice and drama when she entered her ancestral home.

According to her uncle, Japeth, she had to wail once she arrived at her kin’s home.

Apparently, walking without a string of tears rolling down her face was not a perfect look for a true Luo who had lost a relative.

“I wanted to pay my last respects to my grandfather and my uncle Japheth told me whenever I reach the homestead I cannot just get out of the car and walk to the house. He said I have to cry on the way to the homestead,”

She then went on to show the crowd how she was taught to mourn by her uncle.

Well, we got a few photos of her and her husband and we must admit she is looking fly for a mother of two.

Lilian Gaynor enjoys an intimate moment with her husband.
Lilian Gaynor enjoys an intimate moment with her husband
Lilian Gaynor
Lilian Gaynor and her husband
Lilian Gaynor.
Lilian Gaynor.

Check out the burial video below

Continue Reading

Entertainment

Njugush’s wife Celestine on keeping your circle of friends’ small

Published

on

By JUDITH GICOBI

Celestine Ndinda, aka Wakavinye, wife to Comedian Njugush, has a few words of advice to her fans. She urges them that having a small circle of friends is a wise thing to do, especially if you live in Nairobi.

 Wakavinye has supported her husband since their early days, even before all the fame. Njugush feels lucky to have her as a wife. 

The two have sustained same longtime friends and Celestine shares the little secret for that.

She says;

“I have learnt that in life, you need to learn at most five close friends.

 By doing this, be sure that the first three will help you when you are in need.”

She further adds having too many friends also drains you financially

“Imagine all those friends have birthdays and they need you to show up, yaani every time you are planning of how to spend unlike when you have a small circle.”

 

And there is also societal pressure to have many friends;

“Ata kama umesota, it is hard to communicate that to a big number of people because some will gossip about you and most of them show up when you have a party, but when you are in a problem, you will not have them around,” she said.

She also insists on being yourself, don’t compete

“When you compete with your friends, you will get exhausted. So go with your pace.”

Some of the couple’s long-time close friends include; Abel Mutua and his wife Judy Nyawira, Philip and his wife Cate Actress.

Continue Reading

News

DP goes missing on social media

Published

on

By JUDITH GICOBI

Deputy President William Ruto has been missing on social media lately. The silence is too loud, given the pressure being piled on the ruling party – Jubilee.

His last activity on social media was on Sunday, January 12 where he had attended an interdenominational church service at St Paul’s Makongi Secondary School in Soy Constituency, Uasin Gishu County, with other leaders.

“The righteous person may have many troubles, but the Lord delivers from them all. – Psalm 34:19 During an interdenominational church service at St Paul’s Makongi Secondary School in Soy Constituency, Uasin Gishu County,” his posts on Twitter and Facebook reads.

The DP also attended a church service in Narok County on the same and posted about it.

“But seek ye first the Kingdom of God, and his righteousness, and all these things shall be added unto you. – Mathew 6:33, During the official opening of African Gospel Church (A.G.C) Olerai Bethel Sanctuary, Narok West in Narok County,” the other post read.

Still, on 12th January, he congratulated athletes Rhonex Kipruto and Sheila Chepkirui for breaking the men’s and women’s 10 Km world record in Valencia.

The silence is profound when President Kenyatta moved to reclaim his say in the government.

Mr. Kenyatta on Tuesday sacked Mwangi Kiunjuri, Dr. Ruto’s point man in the Mt Kenya region, from the cabinet.

 

Continue Reading


Are you looking for a Church to fellowship in Atlanta Metro Area?

poapay3

Like us on Facebook, stay informed

NEWS TRENDING RIGHT NOW

2019 Calendar

December 2019
M T W T F S S
« Nov   Jan »
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
satellite-communication1.jpg

Trending

error: Content is protected !!