On Mon, Nov 29, 2010 at 1:27 PM, Evans Ikua <ikua.evans@gmail.com> wrote:

I think its a matter of demand and supply. Consider this, our population is increasing almost at the rate of 10 Million people every 10 years. All those people need to be housed. I also cant see why office rent in town is being increased at a time when we have so many new office blocks coming up all over.

its demand and supply high on some strange cocktail of drugs -- because the commercial lending rate is 13%, and the economic growth rate is 2.x % -- essentially there is no economic boom.
since the lending rate is so high more people are perhaps buying property cash down ?
and the best example as has been pointed out -- the prices are simply ludicrous when you compare the prices to places of clearly better value and infrastrcuture.