Ngong:
* 1-bedroom flats in Ngong Town, 20 kilometers from
City center, and in the best part of the town.
* Recommended for those interested in an income generating venture.
Size:
Sixty 1-bedroom flats .
Price: 1.45 million ksh
Down-payment: 15% ie 217,500 sh.
Interest: 14% or 15% fixed
Loan: maximum 85% ie 1,282,500 sh. For periods of upto25 years as for Kwa-Ndege project.
Note 1 loan of KSH 1.2m for 25 years require
Monthly payments of KSH 12,000 .
We expect to rent them for 10,000 sh per month. So the rent and loan are almost Matching, something unheard in Kenya.
If we do not get that KSH 10,000 per month and we get 9,000sh we will reduce price by 75,000sh or 150,000 sh if we get 8,000sh. So it is our challenge to do them to standards that will fetch that rent or we lose money.
Recommeded for those who want an income generating project, and Preference is given to those who want to buy 4 or more units to minimize the number of owners for easier administration.However, no one is denied .It’s a first come first served basis.
Status: To commence in August 2008, so for now we are not taking money but buyers should be preparing their paperwork and their finances. |