SMART TIPS FROM REAL ESTATE EXPERTS


 

 

Lamudi Uganda shares with you tips from real estate experts that have been in the game long enough to know what works

 

Real estate is not something that you can invest in without checking all the necessary documents, financial planning and equipping yourself with the basic information.

There are many things that you need to think about and consider before making the definite decision to invest in real estate. There are many investment ideas when it comes to real estate, however you need to have a clear plan of what you want, in order to make the right decisions.

Shakib Nsubuga, Country Manager of Lamudi in Uganda, said:

“The real estate sector is not something that one should invest in without the proper knowledge and research. In order to get a strong return on your real estate investment, it is always advisable to ensure that you are caught up on what is going on in the market.”

 

This week Lamudi shares with you some helpful tips from the real estate experts.

  • Have a long-term investment plan

A poorly planned investment is not going to support you for the long term. Failing to plan for your real estate future can be detrimental to your capital and, ultimately have a negative impact on your business. When creating your investment plan, think about the end game – it is important to set an income target that you want your property to deliver for you.

  • Have a financial plan

When making a real estate investment, it is important to understand your cash flow position both now and in the later future. Your current financial position could change as time moves on so it is, important to know what you can handle in the long run. Real estate is a long term investment there is no quick money in this sector so you should be able to withstand in the long run.

 

  • Know the real estate sector

It is important as an investor to know how to make the right investment at the right price. In order to carry out your research look at various real estate investments and get a sense of the market and its values. When you are ready then make your first investment however it is important to make your first investment cautionary as you are bound to make mistakes the first time round.

 

  • There is no short cut

Like most investments real estate requires hard work, due diligence and patience. You need to be willing to put in the time and effort in order to get returns on your investments otherwise mistakes might slip through the cracks and this will have a big negative impact on your investments and returns.

 

WHERE ARE THE FINANCIAL CENTERS OF THE FUTURE?


 

Global real estate portal explores the growing financial hotspots in the emerging markets

Every market, regardless of the country, faces obstacles, dependent on financial stability, infrastructure development, taxation and economic strength. Western cities, such as New York and London, dominate as international financial centers. However, emerging hotspots in the developing world are catching the attention of investors.

Global real estate platform Lamudi, active in 34 emerging markets in Asia, Africa, the Middle East and Latin America, explores the up-and-coming financial centers of tomorrow.

Dubai is an emerging financial hub in the Middle East. Home to international powerhouses such as Goldman Sachs and JP Morgan Chase, the city is an increasingly influential player in global finance. Dubai is putting itself on the map due to its enticing tax laws, stable banking system, and favorable business environment.

Neighboring Doha is also steadily growing its reputation as a financial hub. As oil prices fluctuate, both UAE and Qatari leaders are focusing on diversifying local economies in a move away from dependence on the oil and gas sector. As a result, the financial sector is moving into the spotlight, to attract international investment into the Middle East.

As the Philippines’ most important central business district, Makati is becoming an increasingly important financial hotspot. It is home to headquarters of the country’s largest banks, and the main trading floor of the Philippine Stock Exchange. Furthermore, the city boasts the highest concentration of local and multinational companies, and major banks in the Makati Central Business District (CBD).

In 2014, Mexico City, Mexico’s most important financial center, had 62 greenfield investment projects underway, valued at $2,243 million.  Like with many other fast-growing cities, rapid urbanization has occurred, as Mexico’s focus has shifted from agriculture to industry. The capital city now boasts an international stock exchange, and attracts a growing number of foreign property investors, who benefit from Mexico’s proximity to the United States.

Chittagong, a major commercial, industrial and financial hub in the south of Bangladesh, is developing into an international financial center. The Chittagong Stock Exchange has more than 700 listed companies, while the city itself is home to a number of Bangladesh’s largest corporations. Its strategic location in close proximity to Myanmar and India, makes Chittagong an interesting consideration for international financial service providers. Furthermore, a proposal to build road connectivity from Chittagong to Kunming, Southwest China, via Cox’s Bazar and Myanmar, will create an economic corridor to strengthen infrastructure in the region.

Kian Moini, co-founder and managing director of Lamudi, commented: “

The emerging markets are home to a number of growing hotspots for financial centers. Whilst there are challenges that must be taken into account, including immature markets and political challenges, when strategizing a move into an emerging market, vast opportunities are being created – as long as strongly researched decisions are made and realistic strategies are in place.”

Young, dynamic populations are entering the workforce, with an increasing number of talented, ambitious workers driving innovation. As emerging market hotspots undergo infrastructural and technological developments, they are becoming increasingly attractive to international financial corporations, looking for new opportunities.

 

Where can you afford to buy luxury property?


 

…………Global real estate platform ranks most affordable locations for luxury real estate…………….

 

Ethiopia has been named the most affordable location to buy luxury real estate in the emerging markets, according to a new ranking released today by global real estate platform Lamudi. Purchasing luxury real estate in Ethiopia costs an average of 396.58 EUR per square meter, according to Lamudi’s data.

At the other end of the scale, luxury property for sale in Angola is priced at 3965.52 EUR per square meter on average, Lamudi data shows. In August, Mercer’s annual Cost of Living survey ranked Angola’s capital city – Luanda – as the most expensive city in the world for expatriate workers for the third year running, beating the likes of London, New York and Singapore.

The luxury real estate top 20 is based on average prices per square meter from the sales price of listings on the Lamudi website, which covers more than 30 countries in the emerging markets. The ranking considers affordability as well as the available supply of luxury real estate in each country, in order to determine the leading locations to invest in more affordable luxury real estate.

Luxury property in Africa dominates the ranking, with Ivory Coast in second place, where the price per square meter for luxury property is 427.65 EUR, on average. Tanzania claims the third spot in the ranking (486.03 EUR per square meter), followed by Mexico, which has an abundance of luxury property on offer, costing on average 675.65 EUR per square meter. Rounding off the top five is Colombia, with high-end real estate priced at 756.97 EUR per square meter.

In Asia, Indonesia boasts the most affordable luxury real estate, with an abundance of luxurious properties available on the market. Furthermore, Knight Frank’s global Wealth Report 2015 ranks Bali as the third hottest luxury property market in the world, with Jakarta following in 13th position. Lamudi’s ranking reveals that the Philippines is the second most affordable location for luxury real estate in Asia, with an average price of 1078.82 EUR per square meter.

Kian Moini, co-founder and managing director of Lamudi, commented: “When it comes to luxury property, emerging property markets in Luanda, Dubai and Doha are giving global cities like New York and London a run for their money.

In emerging markets across Asia, Africa, the Middle East and Latin America, there is now an abundance of affordable luxury real estate on offer, opening up the high-end property market to the lower-income bracket.”

Affordable locations to invest in luxury real estate in the emerging markets

 

Country Median sales price per square meter (EUR) Median sales price per square meter (USD)
Ethiopia 396.58 447.87
Ivory Coast 427.65 482.96
Tanzania 486.03 548.89
Mexico 675.65 763.03
Colombia 756.97 854.87
Kenya 850.54 960.54
Nigeria 856.29 967.03
Indonesia 870.73 983.34
Tunisia 885.52 1000.04
Ghana 1035.75 1169.70
Philippines 1078.82 1218.34
Morocco 1144.25 1292.24
Mauritius 1484.49 1676.48
Peru 1513.32 1709.04
Uganda 1597.22 1803.79
Algeria 1766.35 1994.79
Sri Lanka 1782.51 2013.04
Qatar 3528.95 3985.35
UAE 3639.12 4109.77
Angola 3965.52 4478.38

 

TOP FIVE NEIGHBORHOODS FOR SCHOOLS IN KAMPALA


 

………………….Lamudi Uganda shares with you top five neighborhoods in Kampala for schools…………………..

 

Neighborhoods with good schools attract a big number of home buyers, because of families moving closer to where their children are going to school.

With several public and private schools recently breaking off for their second term holidays and some international and private schools prepare to welcome students to a new academic year, there has been less traffic and activity in these neighborhoods.

Shakib Nsubuga, Country Manager of Lamudi in Uganda, said:

“People find it convenient to settle in neighborhoods that have good schools, amenities and are safe. That is why when it comes to looking for property these areas are at the top of the list. For most families, they want to offer the best education for their children so moving to a new neighborhood is not a problem if they can afford it.”

This week Lamudi shares with you some of the top five neighborhoods in Kampala for schools.

 

  • Kololo

Kololo is one of the most expensive locations in Kampala by far with land going for as much as $1,500,000 for an acre. Houses for sale going for as much as $260,000 and rentals range from  $1500 per month. The fact that there are several schools in this area such as Kabojja Junior, Daffodils, Kitante Primary School and also close to Delhi International School, this makes Kololo very popular. This neighborhood is also home to embassies, shopping centers, malls and offices which makes it convenient for parents.

 

  • Bugolobi

This is another neighborhood in Kampala that is easily accessible and has a number of schools from day cares such as Kissy-fur, Montessori and St. Kizito Primary School. Bugolobi also has hospitals, offices and malls which makes it ideal for families. Houses for sale in this area go for around $200,000 and rental properties for as low as $290.

  • Bukoto

This is a suburb that is popular for its residential properties like Bukoto flats. This is also the home to one of Kampala’s prestigious international schools, Kampala International School Uganda. There are several primary schools and also a few minutes away from Delhi International School. Amenities such as hospitals, churches and a police station, Bukoto attracts a large number of people due to its convenience. A property for rent in this neighborhood goes for as low as $200 and property for sale for $250,000.

 

  • Luzira

Apart from several lake views, Luzira is another neighborhood known for its schools, one of the schools that is located in this neighborhood is Gems International. Luzira is a busy suburb with several markets that sell fresh produce, offices, hotels and hospitals. This neighborhood provides both convenience and serenity for its people. Properties for rent in this area range from $200 and properties for sale for as low as $180,000.

 

  • Nakasero

Nakasero is known for its accessibility and security. It is also a neighborhood that has a number of institutes and schools like Nakasero Primary School. This neighborhood also boasts of number of embassies, offices, hospitals and the presidential state house making it a safe and convenient neighborhood. Properties in this neighborhood are more expensive for example, a property for rent may go as low as $300 while a house for sale $300,000.

WHY USE LAMUDI TO MARKET YOUR PROPERTY


Lamudi Uganda shares with you a customer testimonial on the  benefits of using our website.

As Lamudi’s two year anniversary is fast approaching, Uganda’s number one online website celebrates the agents, brokers, developers who have trusted Lamudi to market their properties and shares with you a testimony from a client.

Shakib Nsubuga, Country Manager of Lamudi in Uganda, said:

“We opened the Lamudi Uganda office in October 2013, and it has been a success due to the dedicated team and especially the real estate practitioners that have trusted us to market their properties professionally and the clients that have used our portal on several occasions to find their dream homes.”

Joseph Ahabwe was one of the pioneer customers of Lamudi back in 2013. He walked into the office with a property he wanted to put up for sale and that was the beginning of a great business relationship.

Lamudi: What would you consider to be your greatest achievement in business?

Joseph: Definitely the sales are a reward for any entrepreneur. For every agent, this is what we all look forward to because, many people trust us with their properties to sell or let on their behalf and once you make a sale, this boosts your business to get referrals.

Lamudi: How did you find out about Lamudi?

Joseph: The first time I heard about Lamudi was from a friend and I remember being  thrilled by the idea that you can market your properties by uploading various properties online and reach a large number of people in and outside Uganda. I quickly embraced the idea and sure enough, my attempt was well rewarded.

Lamudi: What is your experience with Lamudi?

Joseph: My experience has been good but one outstanding experience I had with Lamudi was with the property I had in Seguku-Katale. The five bedroom villa was up for sale at 350,000 dollars. I had attempted to sell this house but I had not received any positive feedback. For this reason, the house owners decided to lower the property price. That is when I decided to upload this property on Lamudi and I was able to find a buyer in less than a month.

Lamudi: What is the future of the real estate industry in Uganda?

Joseph: The future is definitely bright because, the market is young and steadily growing into a firm sector but the biggest challenge with the sector is lack of professionalism and dishonesty among key players in the market. However, the sky’s the limit for the real estate sector in Uganda.

Attributed to: Mr. Ahabwe Joseph

Mr. Joseph is the founder and CEO of Summit Heights Limited, the umbrella company of Summit Properties, a real estate brokerage company and Summit tours, a tours and travel company.

PREDICTIONS FOR THE REAL ESTATE SECTOR IN THE ELECTION YEAR


png;base645b309096fdc3828fLamudi Uganda shares with you some of the predictions that have been made for the real estate sector in the coming election year.

 2016, the election year, is fast approaching and Ugandans are looking for ways in which they will benefit financially,and what sectors they will invest in to get huge returns once the year is done.

However, when it comes to the real estate sector it should be noted that real estate investments need more than a year if to get returns.

Shakib Nsubuga, Country Manager of Lamudi in Uganda, said: Ugandans should know that investing in the real estate sector requires thorough planning and that returns are calculated long term. However with the election year coming, there will be a bit of money in circulation, which may benefit people who have already invested in the sector.”

This week Lamudi shares with what to expect in real estate this coming election year.

  • Increase in infrastructure and properties

In the 2015/16 budget infrastructure was allocated over three trillion Uganda shillings, which according to Knight Frank, means that there will likely be more residential suburbs opening up in the greater Kampala Metropolitan Area. Due to the good infrastructure – we are going to see more people investing in projects outside the capital city and this is bound to lead to a significant growth in the real estate sector in the country.

  • Rise in inflation

In the last elections, we witnessed a rise in inflation and with the current currency depreciation there is bound to be uncertainty when it comes to general investments, especially in the real estate sector. However, according to Knight Frank’s property market outlook research there is a predicted increase in service delivery efficiency and this will have a positive effect on the real estate as properties will have increase in value due to accessibility.

  • Delayed investor development

Due to elections next year, we might see a decrease in investor developments in the country due to the elections. Most foreign investors have trouble committing to developments during elections in case it does not go well – leading to instability. With the upcoming elections, Uganda might see investors put a hold on developments until the elections are done.

Despite the predictions for the election year, it should be noted that the real estate is a strong sector and with shelter being a necessity this sector can withstand any negative impacts and still provide returns in the long run.

HOW TO BUILD YOUR DREAM HOUSE ON A BUDGET


By Rebecca Kamugungunu 7th August, 2015

png;base645b309096fdc3828fThe cost of building a house can be very expensive especially when one is building their dream home. People believe that constructing a beautiful home costs a lot of money however, some of the most beautiful houses in the country were constructed on a tight budget. But given the price of houses and apartments in Uganda today, people are looking for more affordable ways to build their dream homes.

Shakib Nsubuga, Country Manager Lamudi in Uganda, said: “Many Ugandans today are interested in owning their own homes and because of this they are finding more affordable ways of making this dream come true. They are looking for alternative building materials and house designs that are affordable yet durable.”

This week Lamudi shares with you some of the ways that you can build your dream home on a tight budget.

  • Cost of materials

The materials that you choose to use to build your dream home greatly affect entire cost.  Structures like flooring, bathroom fixtures and heating and cooling systems cost differently in many shops and areas around the city.  If you’re on a tight budget, it is important to do your research before embarking on this project however, slightly more expensive quality grade materials last longer which helps you save in the long run.

  • Use certified contractors

Sought out certified general contractors and a group of experienced workers. They will be an asset during the home-building process by making sure that your materials and money is put to good use, which helps you save in the long run. Certified contractors also have a bargaining advantage since they know many suppliers and therefore, this makes it easy for you to find legit building materials at a cheaper price from a trusted seller.

  • Monitor the construction process

It is important to monitor all your construction allowances during the process in order to ensure that you are getting what you are paying for. This includes all allowances including light fixtures and other construction amenities like door handles, taps and screws.

  • Proper and advanced planning

It is important to carry out proper and advanced plan before embarking on this project. Building a house can be overwhelming especially if done without proper financial planning. You should know how much you are willing to spend and on what you are willing to spend it on in order to make sure that you do not spend recklessly on things that you do not need.

ASK THESE QUESTIONS TO AVOID A PROBLEM HOUSEMATE


How to interview right and prevent issues in the future

Passive aggressive notes left on the fridge. Constant mess in the common areas. Music blaring at all hours of the morning. Sharing your home with others can be stressful enough, but even more so when you end up with the housemate from hell.

When looking for a new roommate, asking the right questions can go a long way to keeping the peace at home. Interviewing the applicants face-to-face allows you to review their body language and get a better sense of what they would be like to live with.

To help renters find their ideal future flatmate, global property portal Lamudi provides a list of five key questions to ask candidates who are interviewing for a room.

  • Where have you lived for the past five years?

Your aim here is to get as much information as possible about the applicant’s rental history. You want to find out whether they are a stable tenant and have a tendency to stay in one place for the long term. Be wary of people who have lived in several locations within a short period.

  • Why are you moving out of your current place?

Asking questions along these lines will help you gauge whether the applicant is a responsible tenant or not. Do they have to move on because the owners have decided to sell? Totally reasonable. But do they admit to leaving because of a conflict with a current roommate? Then alarm bells should be sounding straight away.

  • What is your current schedule like?

Living with someone whose schedule matches your own is a matter of personal preference. Perhaps you want your new housemate to become a good friend as well, which means having your schedules in sync could be ideal. At the same time, a night-owl could be disruptive to a morning person’s routine, so finding out these details will help you make a final decision.

  • What do you think is the best way to divide up the cleaning at home?

The cleaning roster is a common source of contention between housemates. Ask a practical question about household chores to gauge how they would approach this.

  • Do you currently have a partner?

This is another common cause of problems within share houses. What you really want to know here is how often their partner will be visiting – and whether you are comfortable with having them around that often – so follow up with a question along those lines.

TOP TIPS FOR A FAMILY-FRIENDLY HOME


 

Whether you are starting or growing your family, your home must adapt to new arrivals. Regardless of whether you live in a bungalow, shared housing, apartment, gated community, every home needs to make changes to become child-proof.

Global property portal Lamudi asks the question, how can you make your home family-friendly? and the following tips make it worth once followed:

  • Make safety a priority

Whilst the interior design of your home is important, safety should be the focal point when preparing for a new arrival to your household. This includes: installing childproof gates at the top and bottom of staircases; making sure swimming pools are surrounded by a secure fence; and keeping anything out of reach that may be deemed harmful.

  • Hide switches

Today, it is possible to buy shockproof switches and sockets for all electrical outlets. Curious kids are often drawn to plugholes, so invest in advanced designs with automatic shutters, which make it impossible for your children to access the sockets.

  • Don’t scrimp on storage

Children tend to need a lot of things – from toys to clothes, strollers to cribs. Smart storage solutions will not only help make space for all of their essentials, but provide an out-of-reach area for those precious pieces of pottery. Make sure you have enough room, by installing additional shelves, baskets and hangers, and making the most of under bed storage space.

  • Protect your walls

It is inevitable that walls will gather food stains and crayon marks over time. Get ahead of the game by introducing blackboard paint into your interior design plan. This way, drawings can be left on the walls, and you can even use the space to leave notes and lists.

  • Avoid sharp edges

If you have always dreamt of having a circular bed, now would be the time to make the investment. Sharp corners are common enemies for small children, who often bump their heads when exploring the house. If circular furniture is not your style, buy special edge protectors and corner guards to avoid incidents.

  • Consider color

Whilst white may once have been your color of choice, you cannot escape the fact that it is not practical for your family home. Preparing your home for a new addition often means moving away from more neutral shades. Darker colored carpets will hide those muddy footprints as your children get older and more adventurous, whilst bolder colors are said to stimulate brain growth and development in newborns.

  • Up cycle

When your children are old enough, your favorite coffee table will be turned upside down and used as a boat, and the sofa will become a trampoline. To avoid the risk of ruining fancy furniture, modify old pieces that can handle the wear and tear.

  • Make the most of your space

It is important to create individual spaces that your kids can call their own, including dens, arts and craft areas, and playrooms. Make sure you also have a place for the whole family to spend time together. Whether this is a bigger dining table, or a comfortable, relaxing space in your living room, as your family grows, your home space needs to adapt.

THE MOST AFFORDABLE PLACES TO BUY LAND IN UGANDA


Land is currently one of the most marketable commodities in the real estate sector in the Ugandan economy. This means that, whether you want to start small by buying an acre, or bigger by buying many acres of land for business development, it is possible to do this by dividing the land up into portions to facilitate these demands.

Shakib Nsubuga, Country Manager of Lamudi Uganda, said: “Land is one the most marketable commodities in the sector at the moment. Investors especially developers need land for property developments and with the growth of the real estate sector in the country this demand has skyrocketed.”

This week Lamudi shares with you some of the most affordable places to buy land in Uganda.

This is one of the areas in the country that is most affordable to buy land in Uganda. Lugazi is situated in Buikwe District on the Kampala-Jinja Highway, approximately 45 kilometers from Kampala. Lugazi is also located approximately 23 kilometers from Mukono. The Kampala-Jinja highway movement to and from Lugazi to the city center has improved making it convenient for people looking to invest in this area. One can find land in this area in the price range of 6,000,000 Ugx – 8,000,000Ugx for an acre.

Gayaza (Ziroobwe)

The price of land is between 5,000,000Ugx – 10,000,000Ugx for 50 by 100 plots of land, this makes it one of the most affordable places to buy land. Zirobwe is found in Luwero district and is approximately 75 kilometers from Kampala which makes it a convenient yet affordable.

Mukono district is one of the fastest growing urban areas in Uganda and this makes it one of the most popular places to buy land or own property. Mukono is approximately 27 kilometers east of the central business district of Kampala. Land in Mukono can be bought starting at an affordable price of 6,000,000Ugx for a 50 by 100 plot of land depending on your bargaining power.

Maya is located approximately 15 kilometers near Kyengera southwest of Kampala. With the renovations of the Kampala-Masaka highway it is now convenient and easy to travel to and from the City center. Maya is one of the affordable places in Uganda to buy land with land prices ranging from 6,000,000 Ugx to 10,000,000 Ugx for 50 by 100 plots of land.