@Aki I wish you a lovely day. Basically my 2cnts value of investments are that there are three type:- 1. Paper - shares, bonds and securities 2. Business 3. Real Estate. The least risky option is real estate; so people buy land cheap and use various options to sell it off at a later stage at times at 100% profit. Also the trick is to have just enough cash for the down payment and the duration of payment of the price. The guys you mentioned in Kitusuru may have raised enough for the down payment where they practically almost own the house. During this period they can for instance rent it or do anything else interesting. The result is that if prices rise during the principal payment period and the investor gets a buyer. They are at liberty to now sell the property, pay off their debt and make a hefty profit. Thank you Kind regards Athar On Mon, Nov 29, 2010 at 1:01 PM, aki <aki275@gmail.com> wrote:
Ok, to give you an idea on the situation. I recently went over to some place in Kitusuru that some person wanted consultancy on IT integration. The developments are not very old etc. Anyway, I got curious and asked the person what price did the units sell for? When I got the answer, I was completely taken back! Yes, A Million Dollars! WTF, I thought to myself.....who would pay such a price for a place that is more secured than a fort ( meaning people here are always worried about their security ), the roads leading to it are so dingy and pot-holed that you really would want a security escort late at night, there are no street lights for many miles, they have their own borehole ( because we have major water shortages since the 80s- I remember the chania project was supposed to alleviate the situation ) , there is no internet because the nearest fiber tap is about 10 kms away, the list is endless on what does not exist. I could not add the two together. Then on my recent trip to Cape Town, I went on some tour of some very best scenic bays in the world and where some hollywood stars own property. And property here was relatively as expensive as KE but you get some real good stuff worth of what you would invest. So if I had a Million USD to spend on a property, would it be Kitusuru or Cape town? I already have the answer.
Going back to the thread, I've been following the various articles on KE scene, still makes no sense of what is going on.
Me thots.
Rgds
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