What It's Like Buying An Apartment In Nairobi Kenya

[@jameskamotho7513]

19:28 You shouldn't worry of a property bubble here. Our population is still growing and is set to reach 70-80 million by 2050, all factors held constant of course, although even if our growth declines, there is a huge backlog of rural and young people. On property tax (we call it land rate here), (your guy didn't seem to know) we have three types land tenure. Lease (pays annual rate to counties) mostly found in cities. Freehold (doesn't pay county land rates) and communal land. The government has never been able to introduce taxes on land since people fight it so much but may be in future, they might succeed in it.

[@RyanFagan_RealEstate]

@@jameskamotho7513 that’s a great point cause when I look around all I see is development. Like who is gonna live in all these new buildings?

[@jameskamotho7513]

@@RyanFagan_RealEstate The only challenge is lack of income. I for one, cannot afford them, but there are people who will. They were talking of a bubble a decade ago but that kinda didn't stick and those fears are largely gone. Also, there are those who buy and rent out. Don't you worry. Also, Nairobi is what they call a primate city (you don't have such in US) which is a city that dominates its country's economy(27% of GDP according to the latest survey) and politics. Most African cities are like that. I see it growing to 15-20m people by 2050, with 8-10m within the county, all factors being equal of course. I would worry for you if you had bought in a small rural town.

I have being following you Ryan and i do like the way you ask and putting your question simply so that one can get to understand. Iam a Kenyan please take it from me the young man is great knowledge on what he is doing trust me you made the rigth move

[@RyanFagan_RealEstate]

Thank you, I try my best to be helpful!

[@mikimiki3355]

23:38 actually, there is yearly land rates that you pay at City Hall if you own land in Nairobi. So let's say, you buy a house on a piece of land, you need to pay tax for the land. Same if you buy an empty lot, you will still pay the same tax.

[@julietnthenya1138]

Congratulations 👏

[@RyanFagan_RealEstate]

Appreciate it!

[@mandah2445]

I also just done the hand over for a 1 bedroom space in Lavington! Such a nice neighborhood and for the price, not so bad. Although I know the finishings aren’t best but US citizen based abroad in Asia so I’m used to these kinds of apartments.

[@RyanFagan_RealEstate]

@@mandah2445 yes being from the US some places aren’t up to standard I’m always looking at what would be considered “average” in this market and where you can find higher quality

[@mwanafalsafa3613]

Can you guys kindly mention the property companies you are dealing with?

[@maureenwm]

We pay land rates annually for house and apartment owners.

[@RyanFagan_RealEstate]

Ahhh that makes sense

[@USSEIN_WAJEER]

Love this. With about same or even less price, you could own a beachfront apartment in Mombasa with a very demanding Airbnb return. Except Mombasa is a little too hot lol. Not sure if you ever been but it’s tropical 🏝️ weather

[@RyanFagan_RealEstate]

@@USSEIN_WAJEER yes Mombasa is very hot, I just like there are so many things to do in Nairobi, I don’t know as much about Mombasa

[@nicoledinga9948]

Nrb with Airbnb is better...the coast is only seasonal.

[@USSEIN_WAJEER]

@@nicoledinga9948 Ma’am I’m speaking from experience! Nairobi doesn’t have “beachfront” keynotes, you make more money on a season in Mombasa than what you make in a year in Nairobi. I own properties in both cities

[@Ladybae-q9k]

Great video bro. Good job

[@RyanFagan_RealEstate]

Thank you!!!

[@rukam3]

Chinese developers fail in doing finishes. After 2 years, it starts to peel.

[@willisdedan]

Give cleanify that work to remove the stains we do post construction cleaning ..

[@Bigflos]

As a German i was horrified by the Craftsmanship of some things of a NEWLY Built Apartment building. The finish on e completed Place SMH but i guess Price beats everything. im going to do a tour of my place as well soon , same problems 🙂

[@RyanFagan_RealEstate]

@@Bigflos yea some of the places I have seen the concrete is already chipping away and the finish work in some places isn’t so good. I think you have to work with developers that emphasize quality which can take more time and research for sure. I’m used to US construction which most things are made with wood vs concrete so I’m not so familiar with these building practices.

[@Bigflos]

@@RyanFagan_RealEstate yeah, im fsmiliar with some houses in the us, not much apartments. china investments building crews or African in some places not sure if the Quality defers from each other much though

[@freedomm]

You generally get what you pay for. If it's super cheap, there's definitely a catch.

[@AfricanUSA-th9ov]

​@RyanFagan_RealEstate same things is going to happen where your 1 Bedroom is located. Generally maintenance is a big problem in Africa. In 3 to 5 years, the exterior is going to look bad because of the kind of painting that they are using

[@liliannjau5585]

Please involve an advocate who deals in land when buying a house and take care

[@RyanFagan_RealEstate]

@@liliannjau5585 I feel like some of them were trying to overcharge me

[@liliannjau5585]

@@RyanFagan_RealEstate unfortunately it's possible take care

[@debrawilliams2781]

The BAR POST on the TERRACE was LOOSE as he LEANED on it, CHECK IT OUT i!!!😊😢😢

[@freedomm]

That type is supposed to be lose 😂 It's a Chinese development so they bring their earthquatke-proof regulations even though we don't have earthquakes here 😂

[@AfricanUSA-th9ov]

Bathroom grouting is not properly done. Not neat.

[@IhtiClasses]

it looks nice until you start living there. the developers have a similar project in syokimau, mombasa road. i lived in one of their houses and let me tell you, the electricity bill because of those tiny heaters will be huge, the doors are not real doors, they are hollow, on exposure to water they start peeling off, the skirting also starts peeling off. if they stay in management you're in for a ride because they water bills will be high. they were charging 250 per cbm. otherwise congratulations. just advising anyone else who might think of buying a property with these developers. due your due dilligence

[@RyanFagan_RealEstate]

Thx you! Will lookout!

[@RyanFagan_RealEstate]

@@IhtiClasses is that one called Aries?

[@ifrazkhan7143]

The finish is the biggest problem with alot of the kenyan artisans. I think is the lack of proper tools to do a clean job. Also alot of trainees on the work site.

[@RyanFagan_RealEstate]

I notice it a lot with tile work where if there is a cutout or and edge it’s usually not very clean cut so could be a lack of the right tool. Most of the developers are Chinese companies so I have no idea what their process looks like or how they equip their workforce but it’s something I’m interested in learning more about how construction works here as I do a lot in the US

[@EsthersBlessings]

I don’t Like the view facing the neighbors🫣

[@MohamedAbdalla-c8u]

So buying in Kenya is way much better than in USA 😅😅😅

[@margaretnjenga7127]

Absolutely 💯

[@AfricanUSA-th9ov]

That Is If Foreigners can own outright

[@ObengBash]

They do have property tax in SFRs in Kenya called Land rates and or Levied by county governments on properties within urban areas, based on the property's value as assessed by the government.and Land Rent: Charged by the Ministry of Lands and Physical Planning for leasehold land allocated by the government. One other Thing, I doubt you can make 130,000.00 per month in Rent for a one Bedroom house.

[@RyanFagan_RealEstate]

The long term rental rate is 65,000 ksh I suppose the 120k would be Airbnb rate if you had very high occupancy but that’s what I’m not sure what the vacancy rate would look like on Airbnb

[@RyanFagan_RealEstate]

@@ObengBash thank you on the clarification on the taxes 😊

[@freedomm]

Land rates are extremely low, though. Like in Nairobi, land owners pay 0.115% p.a. which is basically negligible.

[@yohana7290]

Chinese craftsmanship is highly questionable. The size, number of units, and overall layout feel congested. However, the cost is significantly lower than that of other builders, so I suppose there’s only so much one can complain about. Congratulations on making the investment.

[@RyanFagan_RealEstate]

@@yohana7290 the Chinese aren’t doing the work from my observation it’s local Kenyans doing the building the Chinese i only see if the sales office.

[@yohana7290]

@ no I get that. I’m just speaking of the Chinese from a developers perspective. But I glad to see you and your business partner made the investment. Again congratulations. Wishing you much success!!

[@jameswilson1522]

Wow

[@freedomm]

Very informative video, even for us Kenyans. Paying a lifetime tax on a property you live in is WILD 😂😂😂. Like paying rent for the rest of your life smh Defeats the purpose of buying.

[@RyanFagan_RealEstate]

Exactly! It’s normal to us in the US so when I really thought about it, in other places you don’t have to pay it sounds so much better!

[@adventureserieswithwangechi]

🎉🎉❤❤👏👏

[@RonaldKatina73]

wow now that's a real hustle for us Americans. No long term taxes on ownership.

[@RyanFagan_RealEstate]

@@RonaldKatina73 something to consider!

[@jamesokoth6655]

Karibu kaka hit me up I'm in Western Kenya

[@RyanFagan_RealEstate]

Hey man what’s up!

[@davludi2612]

Don't try 😅😅​@@RyanFagan_RealEstate

[@justfoundout]

Did he meant garbage disposal or actually dishwasher?😂

[@RyanFagan_RealEstate]

@@justfoundout lol he was asking if there is space in the kitchen to add it 😂

[@freedomm]

In Kenya we generally don't have garbage disposals.

[@juniorkellytv6811]

Depends Where You Live,Most Gated Communities Have Them​@@freedomm

[@Al-cb4hf]

Bad move, bro You should have chosen West africa or the South of Africa or North Africa.

[@RyanFagan_RealEstate]

Why???

[@louisawambui4475]

You know you have no reason to say that.

[@Al-cb4hf]

@louisawambui4475 I have millions to say that and I didn't force him in anything.I know you hate free speech. I'm sure I was born in kenya before you.

[@Al-cb4hf]

@RyanFagan_RealEstate too much corruption, too many taxes without any services.Also very expensive. Anyway to my fellow African Americans and African Europeans coming to Africa for a vacation is different than coming to stay in Africa.

[@RyanFagan_RealEstate]

@ more corrupt than West Africa? No way