Valuation is able to increase your house price
Transactions in the residential sales market are rare with many owners preferring to build their own property. In contrast to Nairobi, a large proportion of individual houses are held for investment purposes, with most interest coming from private individuals. House prices have fallen in line with rental levels.
Property valuation is designed to handle house valuations of property for knowing property’s value. but demand is now increasing again in response to the sharp fall in prices and potential for a US dollar income during a period.
A three to four bedroom house in Kololo can be purchased for US$200,000 compared to peak values of up to US$350,000 in 1996.
After over 20 years of socialism, during which the economy fell into a state of decline triggered by severe drought and the 1973 increase in world oil prices, Tanzania is undergoing a remarkable transformation. which helped to stimulate growth by dismantling the system of economic controls and encouraging more private sector participation in the economy.
The continuing economic reform process through the 1990s has included the liberalisation of the agricultural sector, deregulation of exchange rates, fiscal and monetary restraint and a huge privatisation programme, emphasising the need for greater reliance on market forces and private sector participation in the development process. The economic progress has resulted in ongoing assistance from the IMF and the international donor community.
GDP growth in the early 1990s was still low as a result of rampant inflation, a stagnant industrial sector and a fall in tourism numbers. Growth has increased through the decade but was affected by adverse weather conditions and a drop in world commodity prices in 1997 and 1998. Growth is forecast to increase to 4.2% in 1999, rising to 4.5% over the next two years.