Carafaat Posted March 11, 2012 http://somalilandproperties.com/?p=414 38.000 dollar for a little piece of land. this is beyond any logic. Did you know you can buy a piece of land in Kampala(Capital of Uganda, 25 million people) for couple of thousand of dollar. Soon this bubble will burst and many folks will loose their "investment". Quote Share this post Link to post Share on other sites
The Hermet Posted March 11, 2012 Carafaat;802024 wrote: http://somalilandproperties.com/?p=414 38.000 dollar for a little piece of land. this is beyond any logic. Did you know you can buy a piece of land in Kampala(Capital of Uganda, 25 million people) for couple of thousand of dollar. Soon this bubble will burst and many folks will loose their "investment". That tells you how much Landers love their land...the same thing is said across Somaliland, bubble i doubt it a few years back land in my part of hargaisa was selling for $10,000 a plot today its probably double that... hargaisa has always been the most expensive city even in the old Somalia...:cool: i dont see a bubble this has been the status qou for decades now. :cool: Quote Share this post Link to post Share on other sites
Carafaat Posted March 11, 2012 Now ask yourself is there double shortage of land in a matter of couple of years? No. So economic wise its illogic. you should read some on Real Estate bubbels. We are having one here in the Nederlands, after 20 years of price increases, the bubble seems to be bursting and now the prices are decreasing with same speed. Quote Share this post Link to post Share on other sites
The Hermet Posted March 11, 2012 Carafaat;802035 wrote: Now ask yourself is there double shortage of land in a matter of couple of years? No. So economic wise its illogic. you should read some on Real Estate bubbels. We are having one here in the Nederlands, after 20 years of price increases, the bubble seems to be bursting and now the prices are decreasing with same speed. Carafaat even when you look at through logic..the more central hargaisa you are the more expensive, the more out of the town you are the cheaper...hense why cities like hargaisa, burco, borama etc... they are growing at crazy speeds..one construction company head in hargaisa told me on average they finish 34 houses in hargaisa alone daily....people will naturally go further and further away from the city to get bettter prices and this has led to cities growing fast. In Borama the center is expensive. ridiculous expensive... when you go outside its more reasonable...this is one of the fruits of peace i guess, i doubt it will be a bubble surely it would have burst by now after a decade. Quote Share this post Link to post Share on other sites
The Hermet Posted March 11, 2012 Carafaat;802035 wrote: Now ask yourself is there double shortage of land in a matter of couple of years? No. So economic wise its illogic. you should read some on Real Estate bubbels. We are having one here in the Nederlands, after 20 years of price increases, the bubble seems to be bursting and now the prices are decreasing with same speed. The crises in holland is also due to the european economic crises now, high unemployment, stagnent wages etc...plus most of the land in the nederlands has been used up etheir for farming or urban centers most of our land has not been used up...most of it is untouched...so we can keep at it for a least another few generations. Quote Share this post Link to post Share on other sites
Carafaat Posted March 11, 2012 sxb, hargeisa land prices are dozens of time higher then Addis, Kampala, Asmara and even Nairobi. The bubble has been artificially pumped up by an overeas influx of foreign currency that has diverted investment flows from "more productive purposes. But will happen soon as there is a financial sector and banks where folks can store their savings or invest in proects/funds, dont think they will put as much in land anymore. And this in turn will create the bubble to burst. So sell your land and save your money sxb, waa talo. Quote Share this post Link to post Share on other sites
Che -Guevara Posted March 11, 2012 How much of the diasporo that buy land in Hargeysa actually live there? Quote Share this post Link to post Share on other sites
Carafaat Posted March 11, 2012 not many. they see the investment in the land as a way of saving ttheir money. But as soon as there is a proper financial system, they will store it in accounts or invest in productive sectors. Quote Share this post Link to post Share on other sites
The Hermet Posted March 11, 2012 Che -Guevara;802056 wrote: How much of the diasporo that buy land in Hargeysa actually live there? No figures actually exist but what is known is the number has been growing year on year gradually. THe diaspora have been particularly moving back in record numbers during the past 2-3 years. most of them are families and retirees. The land that diaspora buy up is large, but knowing somali's this is given to the overall close family i.e. you buy land and the land is further divided etc... this is a big achievement considering the city of hargaisa was uninhabitable back in 1991 because the entire city of hargaisa was mined so no people could return and the people have de-mined the entire country and made it boom... This is 1991 This is 2010 Quote Share this post Link to post Share on other sites
Jacaylbaro Posted March 11, 2012 It is how much value the land have sxb .... My friend sold one Bakhaar in the downtown for $170,000 .... that was about 5 years ago. It is probably double by now Quote Share this post Link to post Share on other sites
The Hermet Posted March 11, 2012 Carafaat;802055 wrote: sxb, hargeisa land prices are dozens of time higher then Addis, Kampala, Asmara and even Nairobi. The bubble has been artificially pumped up by an overeas influx of foreign currency that has diverted investment flows from "more productive purposes. But will happen soon as there is a financial sector and banks where folks can store their savings or invest in proects/funds, dont think they will put as much in land anymore. And this in turn will create the bubble to burst. So sell your land and save your money sxb, waa talo. walahi caraafato i made a profit saxib..im in profit now..,plus although pumped up with foreign money, i agree, but even addis is, nairobi is backed by foriegn money, the diaspora pump in million daily in remmitences etc so we are dealing with different paradigm entirely..and as we know money circulates i.e. the people building the house, the aritech the suppliers they all make money hense why the somaliland shilling is stable and strong even though it is unrecognised and the people make a small living of Quote Share this post Link to post Share on other sites
Che -Guevara Posted March 11, 2012 Jacaylbaro;802063 wrote: It is how much value the land have sxb .... My friend sold one Bakhaar in the downtown for $170,000 .... that was about 5 years ago. It is probably double by now Seriously? Hermit....If there are settling in Hargeysa and have disposable income, that's great. The good thing is houses are not being bought on credit which will have a serious consequence if the prices fall. Quote Share this post Link to post Share on other sites
Jacaylbaro Posted March 11, 2012 I'm serious sxb ,,,, he was back from the US and never went back again. Quote Share this post Link to post Share on other sites
Carafaat Posted March 11, 2012 All sings of a bubble sxb. there is no shortage of land. One buys a big plot, splits in smaller portions, some durbaan, xayesiis and propaganda folks buy those small pieces of double or tribble the price and it changes hand fast. the first of buyer of land is not the same as who builds something on it, it changes hand dozens of time before build. All the sings of a speculative bubble. Quote Share this post Link to post Share on other sites
Che -Guevara Posted March 11, 2012 Jb..It seems highly inflated considering the average income of the citizens. What about other towns? Quote Share this post Link to post Share on other sites
