Property Market in DAR...

 

Here is a bottom line. Government regulations have no direct influence on real estate pricing. The way assessors value one's house in America (at least in the state of new york from the link you posted) is primarly by sales comparison.

The most common way to determine the market value of a residential property is to use the sales comparison approach. This is the primary method used by professional appraisers to determine the market value of residential properties.

Source:

How Estimates of Market Value are Determined for Residential Properties

Now sales comparison is simply looking at the real estate market of a particular area. It doesn't mean the government influence that particular real estate market in any shape or form. Do you at least understand this part?
 

Hey, perhaps the buyers of those expensive properties are experiencing economic boom. This is about the only thing I can agree with you. Again if there are people who can afford those expensive homes, then people will sell houses for high prices. If people with money didn't exist homes wouldn't be sold for such high prices.
 

The point is government regulations won't solve the high real estate prices problem in Tanzania just like it doesn't in America. The government can build roads and develop infrastructure to the outskirts of the city for people to develop. Make it easier for people to live outside the city limits and work within city limits. Increase the supply and prices will adjust themselves.
 
 

it seems u have no IDEA how the government play part in this!!!

kasome Indexing..,and related stuffs,review NY Land,property,Home ownership related Laws,may be California..,then come back to argue..,don't ask me for sources..,am sort of tired of that.

really tired of replying to u.
 

You can't expect me to do some research in order to prove your point. You have raised a point and offered US, Japan as examples but you have not proved that those countries support your ideas. The ideas you are advocating for Tanzania. If anything the page you posted supported my assertion that real estate pricing is based on the current market. If you had any other resources to support your point you would have posted them by now since I have asked for proofs many posts ago.
 

Tehee THINGS CHANGE SIGNIFICANTLY WITH TIME. kama hapa BONGO nitatoa offer ya banda langu la upanga kwa $1.5 na watu kibao wakawa tayari kununua utakuwa na maoni gani? watu wa marketing, uchumi tusaidieni hapo
 
Ndugu the Truth, let me be fair with you and just believe in me the $1.5m houses in Dar are now a common thing! There is an ongoing Bahari Beach Town Development by a private real estate investor, barely off the ground, but already 174 proposed units in one of the 4 adjoining plot have already been fully booked(pre-purchase) and none of these units is less than $220,000; the most expensive is $520,000, and the land lot size is only 320sq.m. In Obay and Masaki you are talking of land lot sizes of over 4,000sq.m and by the way, land values in these areas are anything above $50 per sqm.

True valuers or appraisers/assessors use sales comparison approach in valuing residential properties not just in your USA but also heere in Tz, and we have been astonished at the skyrocketing of property values over the last 3-4 years. A typical swahili house in Kijitonyama fetched hardly Tshs 40m in 2005, today with your Tshs. 100m, you will find it dificult to get a house to buy. I do not thinki this is due to Lukwaza or any EPA money...Tanzania is no longer a producing but a consuming nation, but where do we get the money...maybe laundering...may be too much minerals that are sold our in the illegal market and finally finding its way in real estate! Bongo is Bongo, you can never tell, even the poorest earning person can afford a cell phone, a beer every day and school fees for his kids and will also stay in his own house....mlio nje mlie tu, ni kweli nyumba za bei mbaya zipo mno, hata kama standard hazifikii za huko....ila am not very sure about this. None of the houses in cities like Stockholm, London and Paris can compete against any of the new proeprties being developed and sold in Dar, let us bet...nitawapa mifano kibao
 
 

PANGUPAKAVU tuangalie hoja iliyopo mbele yetu kama ilivyoletwa na mwanaJF mwenzetu GAME THEORY.

Suala hapa ilikuwa ni kuangalia kama bei alizosema ni kweli zipo na kama zipo zinasababishwa na nini.

Naona mjumbe unaongelea sana masuala ya GDP, per capita income, multiplier effect na economics nyingi tu! Uki-apply uchumi wako wa darasani you will be confusing things here na utapotosha watu. Una-base sana kwenye vitabu bila kuangalia what is happening on the ground. Mimi na THE TRUTH tunaongelea zaidi practicability of what is happening much as the property market is concerned in Dar, but you seem to dwell on economic theory of it. UNLESS WE ALL SWIMM IN THE SAME BOAT, then tutaelewana.

Property market is notorious imperfect and it has got its unique features as compared to other type of investments. Ndio maana waweza kuwa unatafuta nyumba ya kupanga ukaenda let say kwa dalali mjini kule Kariakoo ama posta akakuleta nyumba ya mikocheni just behind the house you intend to vacate.

Wakati naongelea kulipa laki2 sinza sikumaanisha kwamba that is very expensive to pay. Did I say it anyway as you qouted me, au ndo mwendelezo wa kupotosha watu? hii ni nguvu ya hoja au hoja ya nguvu unatumia MR. PANGUPAKAVU? Nilikuwa najaribu kukuonyesha jinsi nguvu ya soko inavyo-determine bei but unaongelea government intervention as is if we are under centrally planned economies. Na hapo ndo unashindwa kuelewana na THE TRUTH na kuwa na hasira eti you are tired of replying him. Usitake kukimbia hoja mjumbe!!!!!!!!!

Unasema kununua nyumba London na kununua nyumba Dar are two different things! In what sense? Do you mean in terms of quality, price or terms of currency used? Yah London unawezalipa kwa GBP but still people can buy, na Tanzanians own propertis in London. Najua utarudi kwenye hoja zako za per capita income na GDP, but the issue ni kwamba can people own it or not. Masuala ya kipato cha mtu au pesa kapata wapi hiyo ni hoja nyingine kabisa na tushajadili sana hapa hayo masuala ya EPA na money laundering. Najitahidi sana nieleweke labda maelezo yangu.

Kuishi London au New York haina maana huwezi kufanya research on what is happening in the property market arena. Hivi kuishi Ulaya na Marekani ndio kujua kila kitu kuanzia govt policies, economic policies, political situations, stock market and moreover property market? Tuna wasomi wengi kwenye hii FORUM na very keen, serious and smart people, JF is not as a any blog you think you can just contribute what you just feel. People will always chewwhat you deliver here before swallowing for digestion.

Mimi dissertation yangu nimefanya nikiwa Reading University (MBA in Property Business), lakini nilibase kwenye property prices in Dar es Salaam, mbali ya kwamba nimekaa Dar na ninaijua vizuri, BUT still I did a research on that.

Kununua nyumba bei moja na londoni hapa Dar haina maana quality ziwe sawa. Kwa taarifa yako plots za maeneo niliyokutajia zinaendana sana na whether the land is developed or bare land. People always buy location not the development on it. Kwani tumeshuhudia watu wengi wananua na kudemolish. Hivi ukinunua ghorofa la msajiri pale Indira Ghandi au Nkrumah ama Jamhuri street utaangalia quality of houses au location and locality?
 


Data ulizonipa ni purchase price!!!!!! Ni kweli kule kuna watu wana pesa sana and I can assure you these homes are owner occupied not for investment purpose, endelea kugoogle utuletee rental prices not purchase prices. Hata Manji (Just an e.g) hapa Dar anawezajenga nyumba yake akaipiga finishings za nguvu like gold coating kwenye windows na door frames still ikawa juu kuliko hata hiyo ya London.

Sasa mwenzangu unatuletea nyumba za Celebrities hapa, obviously will have exorbitant market vulue.

JE IF INVESTED HOW LONG WILL IT TAKE TO RECOUP THE CAPITAL INVESTED IF THESE HOMES ARE RENTED???????

Wanaonunua nyumba Masaki na O'bay kwa 1.5Mil. USD are doing so for investment purpose, but kuna watu hapa Dar wamejenga their dream house, USIPIME MKUU, wewe sema nimelala njaa, usiseme tumelala njaa.

So just look on rental prices and please usichanganye hoja za ufisadi na hoja halisi ilyopo mbele yetu.

It seems like you have more than three topics at a go. Unawezakuja na hoja yako binafsi kuhusiana na kipato cha mtannzania ili tujadili hiyo per capita income yako.
 
PANGUPAKAVU tuangalie hoja iliyopo mbele yetu kama ilivyoletwa na mwanaJF mwenzetu GAME THEORY.

Suala hapa ilikuwa ni kuangalia kama bei alizosema ni kweli zipo na kama zipo zinasababishwa na nini.
nadhani tuishakubaliana kuwa bei zipo,na kila mtu anajua zinasababishwa na nini.
tusichokubaliana ni kuwa:ni sawa kwa hizo property kuwa na hizo bei hapo upanga sijui masaki sijui msasani?!
mimi binafsi nasema si sawa.

u took me for an economist am far away from that..,the only books i read are about technology and ancient history..,never economics,i always experience situations.that's about all.

sijawahi sema nguvu ya soko haichangii bei..ina play part yake,lakini hizo tunazoziona upanga now etc ni zaidi ya nguvu ya soko..,ni overheating ya real estate market.which is very young,and very imperfect kama ulivyoi-describe.


the truth keeps asking for proofs of things he can easily get online.
proof stock market is connected to property markets in china,japan,US??!!give me a break!!


Unasema kununua nyumba London na kununua nyumba Dar are two different things! In what sense?Do you mean in terms of quality, price or terms of currency used?
just know it's different ndugu,kama hutaki basi.it is different.


ofcourse watanzania wanaweza miliki nyumba sehemu yoyote duniani,sijakataa hilo.

tatizo langu bado ni bei ya property nyumbani.haiko realistic,wether kuna buyers au hakuna!

Hoja kama alivyo i present GameTheory ni kuwa,Bei zina walakini,sasa tujadili kwa nini zina walakini..,nadhani kama tukikubaliana zile bei ni sawa sidhani kama kuna cha kujadili tena.

rather itakuwa just another information!!
 
you are wrong,those prices were listing prices of houses currently on market around those cities.
if a house is listed that means the owner is not interested in living in them.

Sasa mwenzangu unatuletea nyumba za Celebrities hapa, obviously will have exorbitant market vulue.
most celebrities live in Bargain homes in comparison to the most expensive properties in the west.

JE IF INVESTED HOW LONG WILL IT TAKE TO RECOUP THE CAPITAL INVESTED IF THESE HOMES ARE RENTED???????

Wanaonunua nyumba Masaki na O'bay kwa 1.5Mil. USD are doing so for investment purpose, but kuna watu hapa Dar wamejenga their dream house, USIPIME MKUU, wewe sema nimelala njaa, usiseme tumelala njaa.
there is nothing wrong with building a dream house,and putting it on market is another story.
it can be a dream house to you and not so lovely to the market.

So just look on rental prices and please usichanganye hoja za ufisadi na hoja halisi ilyopo mbele yetu.
refer hoja ya GT,bei haziendani na ukweli halisi.sababu za hali hiyo inaweza kuwa ufisadi,corruption and many others.

It seems like you have more than three topics at a go. Unawezakuja na hoja yako binafsi kuhusiana na kipato cha mtannzania ili tujadili hiyo per capita income yako.
wewe wasema ndugu..,when one describes one thing he/she can touch different angles of the thing.
 
 

nashukuru sasa atleast tunaanza kuelewana
 
Tell TRA to value the houses and tax them acordingly. The city will have money for infrastructure and we will all be happy. If a house is 1.5 mil the property tax will be about 15 mil a year this itself will make the municipality richer and they could still more and spend a little bit for the development.
 

You have nailed it
 
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