Monthly Archives: January 2015

Property appraisal online calculator & Valuation

Kampala’s retail profile has started to transform with the entry of South African retailers into the market. Metro Cash and Carry and their ‘Lucky 7’ franchise opened up in Kampala in mid-1999, and in contrast to Nairobi, face little local competition. Fast-food operators Nandos and Steers have recently opened their first outlets, while the Shell Select shops have provided a franchised chain of small food shops throughout the city.

A number of further proposed shopping centres in the city have received planning consent, but none have proceeded to the construction stage to date.

Smart and licensed property lawyers will do an inspection of the real estate property and provide you maximum and original values of your residential or commercial properties more info visit at Valuations SA. This year’s rise in the stock market

As with the rest of East Africa, retail rents tend to be based on unit price as opposed to a price per sq m. Retail rents peaked in 1995 at around US$25 per sq m per month plus periodic payment of goodwill for standard retail units in the city centre. Current rents range from US$14-18 per sq m per month for a standard high street shop to US$80 per sq m per month for a small, untypical unit at the Sheraton Hotel.

The inward flow of expatriates, foreign diplomats and returned Ugandan and Asian exiles over the past few years, together with the added impetus that resulted from the Rwanda crisis of 1994/5, has boosted the demand for quality housing. The city’s residential market has grown rapidly in response, through the development of new housing as well as the renovation of older stock.

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Valuation and real estate market prices

Both of which are hills proximate to the city centre, yet provide a very pleasant environment with large gardens. The majority of prime houses in corporate and diplomatic hands are located in these areas. Bugolobi, Naguru, Mbuya and Tank Hill, lying further away from the city centre, cater for the upper/ middle market.

The apartments market in Kampala comprises city centre apartments on upper floors of commercial buildings, multi-unit complexes within large secured compounds and fully furnished serviced apartments. Prime apartments tend to appeal to shorter term expatriates seeking convenient accommodation, while the middle market, city centre range tends to be dominated by the Asian population.

In comparison to Nairobi, Kampala is a safe city, and the additional security offered by multi-unit complexes is therefore not as great a priority to most occupants. Serviced apartments have been the strongest performing sector in the residential market to date but are also the most sensitive to oversupply and economic circumstance, evident from the recent drop in demand and price for this sector.

Longer leases include reviews which can either be a pre-agreed fixed percentage increase, or to open market value. Rents for multi-units tend to be inclusive of service charges. The ever increasing supply of accommodation real estate valuation including the ongoing sale of Government housing stock, has been unmatched by demand, which has subsequently led to a decline in rental levels.

A three to four bedroom house can be rented for US$1,500-3,500 per month in Kololo and Nakasero, US$1,000- 2,500 per month in Bulgolobi, Naguru and Mbuya and US$500-1,500 per month in Tank Hill and Kansanga.

A two bedroom flat in Kololo would let for around US$1,300 per month. Rents for serviced apartments range from US$1,300 per month for a one bedroom apartment in Kololo to US$3,000 per month for a two bedroom apartment in the city centre.

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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.

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