The
Dar Property
September - October 2012
A Monthly Property Guide Issue No 014 www.darproperty.co.tz
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WHAT YOU SHOULD KNOW ABOUT REAL ESTATE VALUATION
The Darproperty magazine
DAR ES SALAAM AFRICA’S NEXT MEGACITY?
March - April 2012 The DarProperty 3
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Distribution Boniface Metta Online Content Manager Mbwana Mbura Sales George Claus Business Development & Products Abdallah Mugasa Office Admnistrator & Accounts Violet Dickson Office Assistant. Brigita Laurance Regulatory & Legal Advisors Nexus Associates - Attorneys at Law Mikocheni B - Bima road, P.O. Box 105499 Dar es Salaam +255 22 2780 517 +255 784 238 962, +255 688 751 868 info@darproperty.net Distribution Should you have problems in obtaining copies of DarProperty Magazine, please contact +255 713 888 036, The Darproperty is published by Darproperty Tanzania Company. All rights reserved. c The contents and opinions expressed herein are not necessarily the representation of publisher’s view. All material published is deemed to originate from the author and will not accept any liability whatsoever in respect that have been sourced from contributors. Users are required to make their own judgement on the details contained in each advertisment. While every caution is taken in compiling the contents of this magazine, the publisher will not accept any liability for the effects arising thereof. No part of this publication will be reproduced with out written consent from Darproperty Tanzania Company.
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WHAT YOU SHOULD KNOW ABOUT REAL ESTATE VALUATION
E
stimating the value of real property is important to a variety of endeavors, including real estate financing, listing real estate for sale, investment analysis, property insurance and the taxation of real estate. For most people, determining the asking or purchase price of a property is the most useful application of real estate valuation. This article will provide an introduction to the basic concepts and methods of real estate valuation, particularly as it pertains to real estate sales. Basic Valuation Concepts Value A main consideration in appraising is to determine a property’s value: the present worth of future benefits arising from the ownership of real property. Unlike many consumer goods that are quickly used, the benefits of real property are generally realized over a long period of time. Therefore, an estimate of a property’s value must take into consideration economic and social trends, as well as governmental controls or regulations and environmental conditions that may influence the four elements of value: • Demand - the desire or need for ownership supported by the financial means to satisfy the desire; • Utility - the ability to satisfy future owners’ desires and needs; • Scarcity - the finite supply of competing properties and • Transferability - the ease with which ownership rights are transferred. Value Vs. Cost and Price Value is not necessarily equal to cost or price. Cost refers to actual expenditures; for 8 Sept- Oct 2012 The DarProperty
example, materials and labor. Price, on the other hand, is the amount that someone pays for something. While cost and price can affect value, they do not determine value. The sales price of a house might be $150,000, but the value could be significantly higher or lower. For instance, if a new owner finds a serious flaw in the house, such as a faulty foundation, the value of the house could be lower than the price.
analyzed to arrive at a value. Three basic approaches are used during this process to determine a property’s value.
Market Value An appraisal is an opinion or estimate regarding the value of a particular property as of a specific date. Appraisal reports are used by businesses, government agencies, individuals, investors and mortgage lenders when making important decisions regarding real estate transactions. The goal of an appraisal is to determine a property’s market value: the most probable price that the property will bring in a competitive and open market. Market price, the price at which a property actually sells, may not always represent the market value. For example, if a seller is under duress because of the threat of foreclosure, or if the property was sold in a private sale without being exposed to the open market, the property may sell below its market value.
Method 1 - Sales Comparison Approach The sales comparison approach is commonly used in valuing single-family homes and land. Sometimes called the market data approach, it is an estimate of value derived by comparing a property with recently sold properties with similar characteristics. These similar properties are referred to as comparables, and in order to provide a valid comparison, each must: • Be as similar to the subject property as possible; • Have been sold within the last year in an open and competitive market and • Have been sold under typical market conditions. Comparables Comparables should be as similar as possible to the subject property, and at least three or four should be used in the appraisal process. The most important factors to consider when selecting comparables are the size and the location of the subject and the comparable properties. The location is extremely important because it can have a tremendous effect on a property’s market value.
Appraisal Methods An accurate appraisal depends on the methodical collection of data. Specific data, covering details regarding the particular property, and general data, pertaining to the nation, region, city and neighborhood wherein the property is located, are collected and
Adjustments Since no two properties are exactly alike, adjustments to the comparables’ sales prices will be made to account for dissimilar features and other factors that would affect value, including: • Age and condition of buildings;
Real Estate
• Date of sale, if economic changes occur between the date of sale of a comparable and the date of the appraisal; • Location, since similar properties might differ in price from neighborhood to neighborhood; • Physical features, including lot size, landscaping, type and quality of construction, number and type of rooms, square feet of living space and whether or not a property has hardwood floors, a garage, kitchen upgrades, a fireplace, a pool, central air, etc. and • Terms and conditions of sale, such as if a property’s seller was under duress or if a property was sold between relatives (at a discounted price). The market value estimate of the subject property will fall within the range formed by the adjusted sales prices of the comparables. Since some of the adjustments made to the sales prices of the comparables will be more subjective than others, weighted consideration is typically given to those comparables that had the least amount of adjustment. Method 2 - Cost Approach The cost approach can be used to estimate the value of properties that have been improved by one or more buildings. This method involves separate estimates of value for the building(s) and the land, taking into consideration depreciation. The estimates are added together to calculate the value for the entire improved property. The cost approach makes the assumption that a reasonable buyer would not pay more for an existing improved property than it would cost to buy a comparable lot and construct a building that is comparable in terms of desirability and usefulness. This approach is useful when the property being appraised is a type of property that is not frequently sold and is not an income-producing property. Examples include schools, churches, hospitals and government buildings. Building Costs Building costs can be estimated in several ways, including the square-foot method where the cost per square foot of a recently built comparable is multiplied by the number of square feet in the subject building; the unit-in-place method where costs are estimated based on the construction cost per unit of measure of the individual building components, including labor and materials and the quantity-survey method which estimates the quantities of raw materials that will be needed to replace the subject
building, along with the current price of the materials and associated installation costs. Depreciation For appraisal purposes, depreciation refers to any condition that negatively affects the value of an improvement to real property, and takes into consideration: • Physical deterioration, including curable deterioration, such as painting and roof replacement and incurable deterioration, such as structural problems; • Functional obsolescence, which refers to physical or design features that are no longer considered desirable by property owners, such as low ceilings, outdated fixtures or homes with four bedrooms but only one bath and • Economic obsolescence, caused by factors that are external to the property, such as being located close to a noisy airport or polluting factory. The cost approach for real estate valuation involves five basic steps: • Estimate the value of the land as if it were vacant and available to be put to its highest and best use, using the sales comparison approach since land cannot be depreciated. • Estimate the current cost of constructing the building(s) and site improvements. • Estimate the amount of depreciation of the improvements resulting from deterioration, functional obsolescence or economic obsolescence. • Deduct the depreciation from the estimated construction costs. • Add the estimated value of the land to the depreciated cost of the building(s) and site improvements to determine the total property value. Method 3 - Income Capitalization Approach The income approach is the third method of real estate valuation, and is based on the relationship between the rate of return an investor requires and the net income that a property produces. It is used to estimate the value of income-producing properties such as apartment complexes, office buildings and shopping centers. Appraisals using the income capitalization approach can be fairly straightforward when the subject property can be expected to have a future income, and when its expenses are predictable and steady. Direct Capitalization Appraisers will perform the following steps when using the direct capitalization approach: • Estimate the annual potential gross income;
• Take into consideration vacancy and rent collection losses to determine the effective gross income; • Deduct annual operating expenses to calculate the annual net operating income; • Estimate the price that a typical investor would pay for the income produced by the particular type and class of property. This is accomplished by estimating the rate of return, or capitalization rate and • Apply the capitalization rate to the property’s annual net operating income to form an estimate of the property’s value. Gross Income Multipliers The gross income multiplier (GIM) method can be used to appraise other properties that are typically not purchased as income properties but that could be rented, such as one- and two-family homes. The GRM method relates the sales price of a property to its expected rental income. For residential properties, the gross monthly income is typically used; for commercial and industrial properties, the gross annual income would be used. The gross income multiplier method can be calculated as follows: Sales Price / Rental Income = Gross Income Multiplier Recent sales and rental data from at least three similar properties can be used to establish an accurate GIM. The GIM can then be applied to the estimated fair market rental of the subject property to determine its market value, which can be calculated as follows: Rental Income X GIM = Estimated Market Value Conclusion Accurate real estate valuation is important to mortgage lenders, investors, insurers and buyers and sellers of real property. While appraisals are generally performed by skilled professionals, anyone involved in a real transaction can benefit from gaining a basic understanding of the different methods of real estate valuation. By Jean Folger Jean Folger is co-author of the award winning book Make Money Trading: How to Build a Winning Trading Business
9 Sept- Oct 2012
The DarProperty
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DAR ES SALAAM: AFRICA’S NEXT MEGACITY?
I
n the dark basement of the cavernous Kariakoo market, dozens of traders gather at tiny makeshift stalls, arranging fruit and vegetables into neat piles. This part of the market has the least sought-after plots, and all of the stallholders have one thing in common: none of them was born in Dar es Salaam. Rolens Elias arrived seven years ago from
12 Sept- Oct 2012
The DarProperty
a village near Morogoro, about 150km to the west. He had been a farmer but wanted to try his luck as a trader. He now makes about 3,000 shillings ($2; £1.50) each day selling tomatoes in the farthest corner of the basement. “It has been hard to set up a life here,” he says. “I came here by myself and had to wait
until I had enough money to bring my wife and family. We all live in one room, but it’s a better life than in the village.” As he arranges his tomatoes, a group of his friends gather around and chip in with their own stories. They are all from Morogoro, and Every day new arrivals flood in, many of them setting up home in hastily erected
all came to Dar es Salaam in the hope of a better life. They all contrast the rural poverty they were born into with the lure of Dar es Salaam and its big-city opportunities. Their stories are repeated many thousands of times across the city. Every day new arrivals flood in, many of them setting up home in hastily erected shacks, many others sleeping on the streets. Those who cannot set up as greengrocers hawk goods, anything from baseball caps and mobile-phone chargers to bottled water and sweeping brushes. shacks, many others sleeping on the streets. Those who cannot set up as greengrocers hawk goods,
anything from baseball caps and mobilephone chargers to bottled water and sweeping brushes. The dramatic influx has pushed the city’s population up from roughly two million two decades ago to four million today. If the government does nothing, the population will hit eight million in 20 years, according to Nimrod Mushi, a lecturer at the city’s Ardhi university. He is one of the experts commissioned by the government to produce a “master plan” to overhaul the city’s infrastructure. Singapore is his role model, and he favours big projects to clear slums and build bridges, roads and out-of-town settlements. “When we went to Singapore, we could see their satellite towns, their ring-roads, their skyscrapers and their decentralised services, and it’s working very nicely there,” he says. He points out that Dar es Salaam has gone 20 years without any guidance on planning, and now “badly needs a master plan”. Superficially at least, his dream seems within reach. Tanzania’s economy is booming, and cranes litter the skyline, putting the final touches to high-rise blocks. The country’s super-rich, many of whom make their cash in the far-away mines of the north, are pouring money into the city. But Dar es Salaam is a long way from Singapore. The Asia city-state’s economy was worth $260bn last year compared with $23bn for the whole of Tanzania, which remains one of the poorest countries in the world. The UN estimates that 70% of Dar es Salaam’s population live in informal settlements; there are no slums in Singapore. Slum clearance would be vital to any regeneration project. It would involve rehousing possibly hundreds of thousands of people, and the extra headache of clarifying the legal status of the land that has often passed down through generations of families without any legal paperwork. The Tanzanian authorities do not have a great record with such projects. Some 600 families had their homes destroyed by floods late last year. The government promised to rehouse them, but most are still living in temporary shelters or have been left to fend for themselves. Such stories point to a deeper problem with Dar es Salaam’s development. The divisions in Tanzania’s lop-sided economy, with a tiny super-rich elite and a vast poor majority, are reflected in its main city. The poorer residents crowd into dilapidated downtown areas or sprawling slums, many without running water or basic
services. Their rich counterparts can choose between $1m beachside mansions in the city’s posh northern districts. Among many of the city’s poorer residents, there is profound resentment at the authorities. “Every day I pay 700 shillings to the government for my stall,” says avocado seller Mzeze Chouheke Gady. “If I make 5,000 shillings, I pay 700. If I make nothing, I still pay 700. What do I get in return?” His gripes include a lack of medical care, transport or basic sanitation. Many other people share his grumbles. Nimrod Mushi warns that a planning overhaul is the only way to solve these problems. But he concedes that its success or failure depends on financing. “When the document comes out later this year, we will include all the budgets needed,” he says. “Then it’s up to the government, or a donor government, to allocate resources. Otherwise it’ll be just another book on the shelf.” Rakesh Rajani, who runs a development project in the city, is also worried about the way the authorities are handling the city’s growth. He says the influx provides an opportunity to harness the talents of the people and create a great city, but worries that the authorities too often oppress the poor with petty rules and rough treatment. He says Tanzania could face a similar conflagration to Kenya in 2007, when thousands of people were killed in postelection violence. His analysis runs against the popularly held view of Dar es Salaam as a beacon of diversity, where people of different religions and ethnicities live together peacefully. But Rajani is more plugged in than most to the collective mind of the city. His project, called Twaweza, runs regular phone-based polls on major issues aiming to reflect the views of Dar es Salaam’s residents. “We live on that knife-edge,” he says. “Sadly I think that at times the people in charge are squandering this opportunity, and possibly mismanaging things to the extent that it could turn very nasty.” By Joe Boyle h t t p : / / w w w. b b c . c o . u k / n e w s / magazine-18655647
13 Sept- Oct 2012
The DarProperty
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To be listed contact Darproperty Tanzania Co. P.O.Box 105499 Dar es Salaam - Mikocheni B, Bima road. +255 784 238 962, 713 751 868, 022 2780 517 2 The DarProperty March - April 2012 info@darproperty.net
Mikocheni “B” Nyumbu St, P.O. Box 106262 Dar Es Salaam, Tanzania +255 717 004 225 / +255 686 561 762 propertyjunction.tz@gmail.com www.propertyjunction.co.tz
PJR:117
PJR:101 Location: Exclusive Kawe Beach Three bedroom beach front penthouse Three bathrooms ,public washroom well manicured garden, swimming pool, Beautiful well maintained garden Asking price $2500 per month
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PJR:108 Location: Mikocheni premise boosting three self contained rooms Suitable for office or residential use with parking area Servant quarter ,modern kitchen, spacious bathrooms, two balcony and water reservior Asking Price $3000 per month Call Antony 0717 004 225 for viewing
Four bedroom house located in Mbezi Beach PJR:109 Balcony good viewpoints and good neighbourhood The house stands on large compound for your dogs Modern kitchen two master bedroom all ensuite Asking Price $2500 per month Call: Antony-0717 004 225
Corparate adress at the most serene area of Dar PJR:206 Nice location, near main road ,Banks and gvt offices Suitable for corparate office or business use With backup generator and quick response security Price negotiable subject to usage Call: Anton:-0717 004 225 for viewing
Exclusive Oysterbay Mansion Mbezi Beach one master bedroom PJR:111 PJR:203 Four bedrooms all self contained Three bedroom house in Spacious kitchen, Nice serene sorrounded by crème de la creme sliding window, large ground with balcony And sitting on the serene and secured land of Mbezi Beach Suitable for office or residential use Asking Price$3500 per month Asking Price $1000 per month. Neg Call Antony 0717 004 225 for viewing Call :Antony- 0717 004 225
PJR:114 Location: Mikocheni B Four bedroom house, kitchen one master bedroom Well manicured garden and close to the main road Suitable for office or residential use Asking price $ 1300 per month Call Antony: 0717 004 225
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Details NOT Warranted.
PJR:202 Location: Mbezi Beach PJR:119 Three bedroom house located in the upmarket area Beach 200m from the main road and served by two roads heading to city centre sitting on spacious well manicured garden 15000 litre Water reservior and good neighbourhoods Asking price $ 1500 per month neg Call; Antony 0717 004 225
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Disclaimer • The Darproperty Magazine is only a property guide where real estate owners or their agents and or their real estate brokers place their property’s sale or rent information with or without pictures. • The Darproperty Magazine does not take any part in selling, buying, or renting transactions. • All transactions are governed by your local laws. All offers and promotions on this magazine are subject to change without notice. • The Darproperty Magazine provides you, our readers, a venue for obtaining the information contained in this publication and has no control over the legality of any real estate for sale or rent or other offers made by advertisers, the ability of any of the advertisers to complete the sales in accordance with the offers, or the quality of the real estate offered by the advertisers real estate information for sale and or rent is directly published by the advertisers on this publication and hence The Darproperty Magazine takes no responsibility of any of their information and prices and any mistakes in printing or typing. The Darproperty Magazine has no control over whether Advertisers will honor the offers shown on this publication and does not guarantee the accuracy or completeness of the information contained on this publication. • The advertised real estates and properties on this publication may or may not be available for sale and or rent. In the event you have a dispute with an Advertiser in any way relating to this publication or the use of information from this magazine, you agree to waive and release The Darproperty Magazine from any and all claims, demands, actions, damages (actual and consequential), losses, costs or expenses of every kind and nature, known and unknown, disclosed and undisclosed relating to that dispute.
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24 The DarProperty Sept - Oct 2012
FOR RENT
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TR1285 MASAKI
TR1301-REGENT ESTATE
LOVELY 4 BEDROOMED, 4 WASHROOMS, ALL ROOMS ARE ENSUITE,GENERATOR, LOVELY GARDEN. USD 3300
FOR RENT
FOR RENT
TR1288 OYSTERBAY FURNISHED
FOR RENT
TR1262 MASAKI
LUXURIOUS OCEAN FRONT 3 BEDROOMED APARTMENT,OCEAN VIEW ALL CORNERS,GENERATOR,POOL,GYM,PRIME LOCATION. USD 4500
Details NOT Warranted.
TR1328 ADA ESTATE 4 ROOMED VILLAS,ALL ROOMS ARE ENSUITE,SMALL OFFICE INSIDEENSUITE,POOL,GYM,GENERAT OR,24 HOURS SECURITY. USD 3500
FOR RENT
TR1324 MASAKI
OCEAN VIEW APARTMENT OF 3 ROOMS, FURNISHED, 2 MASTER BEDROOMS,GENERATOR,POOL,GYM, OCEAN VIEW. USD 3500
FOR RENT
TR 1261 MASAKI
EXECUTIVE AND BRAND NEW OCEAN FRONT 3 BEDROOMS APARTMENT, FURNISHED,POOL,GYM,GENERATOR. USD 4000
FOR RENT
FOR RENT
TR1260 MASAKI
TR1259 MSASANI BEACH
USD3500
USD 3000
BRAND NEW OCEAN FRONT 3 BEDROOMS 5 BEDROOMS VILLA,4 ROOMS ARE ENSUITE, POOL,GYM,24 HOURS SECURITY. HOUSE,FURNISHED,POOL,GENERATOR.
FOR RENT
TR1208 BAHARI BEACH
HOUSE OF 4 ROOMS,ALL ROOMS ARE ENSUITE,BEAUTFUL GARDEN, LARGE PARKING SHADE,24 HOURS SECURITY USD 4000
FOR RENT
TR1235 MSASANI
NICE 4 ROOMED HOUSE IN A SHARED COMPOUND,SERVANT QUARTER, SWIMMING POOL, ATTRACTIVE GARDEN,GENERATOR. USD 3000
FOR RENT
USD 3200
FOR RENT
TR1276 MIKOCHENI
LOVELY 5 ROOMED HOUSE, ALL ROOMS ARE ENSIUTE, ELECTRICAL FENCE,GARDEN, GENERATOR,SERVANT QUARTER. USD 4500
TR1189 MASAKI
HUGE PROPERTY ON HAILE SALAISE ROAD, 15 ROOMS,STAFF QUARTER, IDEAL FOR CORPORATE OFFICE,MOTEL, REUSTAURANT,CASINO.
USD 10000
FOR RENT
4 BEDROOMED HOUSE,SERVANT QUARTER,GARDEN,GARAGE, PAVED COMPOUND
USD 4000
FOR RENT
TR1211 OYSTERBAY
3 BEDROOMS APARTMENT, FULY FURNISHED,GYM,POOL,
USD 3500
FOR RENT
TR1148 OYSTERBAY
4 ROOMS VILLA, ALL ARE ENSUITE, FURNISHED,GYM,GENERATOR, SERVANT QUARTER,PARKING SHADE.
USD 4500
FOR RENT
TR305 POSH MIKOCHENI
5 BEDROOMS HOUSE,3 OFFICES,POOL, GUEST WING,SERVANT QUARTER, GENERATOR,LOVELY GARDEN.
USD4000
FOR RENT
TR1242 MASAKI 4 BEDROOMED HOUSE, 4 WASHROOMS,GENERATOR, SERVANT QUARTER.
TR1325 KIJITONYAMA
OFFICE SPACE HALF FLOOR 241SQM, PARKING SPACE,GENERATOR, PARKING SPACE.
USD 16 @ SQM
USD4000
FOR RENT
FOR RENT
TR1255 KAWE BEACH 5 BEDROOMS HOUSE,GARDEN,POOL, 2 LOVELY LIVING AREA, SERVANT QUARTER.
TR1202 ADA ESTATE 5 ROOMED HOUSE,FURNISHED, POOL,GENERATOR,STAFF QUARTER, IN A QUIET LOCATION. USD 6000
USD 4000
TR1315 MASAKI
FOR RENT
FOR RENT
TR1244 KAWE BEACH OCEAN FRONT VILLA,POOL, LOVELY GARDEN
TZ Real Estate Agents Ltd Property you can trust, your search ends with us 7th floor Amani Place, Ohio Street +255 756 960960, +255 714 444250 www.TZrealestate.co.tz
FOR RENT
TR1258 NEW BAGAMOYO ROAD OFFICE SPACE OF 250 SQM,LOCATED ON MAIN ROAD USD 5000
Details NOT Warranted.
FOR RENT
TR1247 MSASANI BEACH
BEDROOMED VILLAS,ALL ROOMS ARE ENSUITE,SMALL OFFICE ,POOL,GYM.
USD 3300
FOR RENT
TR1256 MIKOCHENI B 5 BEDROOMS HOUSE, ELECTRICAL FENCE, LOVELY GARDEN. USD 4000
Sept - Oct 2012
The DarProperty 25
Classifieds
Plot For Sale Nice and surveyed plot for sale at Mbweni jkt. 1500sqmts with clean tittle price 70million. just 10 minute to walk to beach. call 0682 193570. / 0713 853369. Its 2 acres in a 15 acre farm in Hale Tanga. There are about 300 teaks of 14 years old. The price is $65000 (100m Tsh) The price is negotiable. Also if the potential buyer want to buy the whole farm (15 acres) we can negotiate. The farm can be a good mortgage if a buyer want to get a loan from a bank. If you are interested, contact +255762560088 or jukwela4@yahoo.com Located in Mkuranga District Kiparang’anda village25 Acres ,Surveyed with OFFER 99 yearsJust 1 km from Dar- Lindi main road. Usage - multipurpose. Contact +255 288 562 Two surveyed beach plots with 2,505 sq meters and 3500 sq meters located near the beach at Luchelele Mwanza. The plots are ideal for hotels/ residences strategically located for development by Mwanza City plan shortly. Price Tshs 120mn for both, first come first served. Contact 0713509339 /0783 777995. a plot for sale. msamvu. 33yrs tenure. medium density oposite msamvu bus stop.140 million call 0713727630 The plot carries a permit for construction of 6 apartments in 2 blocks. Tshs. 800m. Call 0655 434 375/0713212728. One hectare located one kilometer from beach at Amani gomvu(kimbiji Dsm) . The plot are idea for hotel,residence, strategically located for development. Price Tsh 35m. contact 0713 10 37 32
House For Sale
House To Let
house for sale at kijitonyama. 8bedroom. ideal for guest or apartment construction. 0682 193570
3bedroom house to let in sinza, dining, kitchen, ac, fenced 3car park. price 700000per months. call 0682 193570
1 storey house for sale 4 bedrooms 2 self contain, house @ masaki peninsular with fenced and a big plot size 1400sqm Price: $1.2m Call 0784 710606.
1bedroom house to let at upanga. fenced, big garden, large car parks. 700usd per months. call 0682 193570.
Bungalo for let Tabata Aroma Houses at Kibamba in a 4199 Sq.m area behind the king David arch of education. Recently renovated area with title deed. Contains in depth. three bedrooms one houses of 5, 4 and 3 bedrooms ensuite, two public toilets and multi-purpose godown – combined with showers. parking like building. Price Tshs. 295m House is Fully Furnished, having 4 negotiable. Bedrooms, 1 Study Room, 2 Sitting Call 0655 434 375/0713212728. Rooms 1 Dining Room, 1 Kitchen, Property for sale. 8 storey corner 4 Bathrooms Backyard Lawn, 2 house at kariakoo located junction Parking spaces tolivingstone street & pemba st. It (1 covered and 1 uncovered) +255 767 881 864 has attached 6 shops, each floor has 2 apartment. 3 &2 bedroom Masaki - 9 rooms house suitable price usd.1.8m call,07173270522 for an office. $5,000. ensuite @ $ 450,000 each. Kigamboni - 3 bedrooms Premium plot 4 sale at mbezi compound house unfurnished for beach, Price usd 80,000/= call/sms 0712- $500pm. Call 0655 104 910 222905 Old building commercial proposed plot size 312 in kariakoo located along msimbazi road, has 5 shops attached & good necessary documents . for sale $ 1m call +255 784 710606.
Nice house in a good location @ Mikocheni B 4 Rooms, parking, access road, lovely garden well fenced, spacious living area. USD 1500 Mob: 0756 960 960, 0714 444 250
Furnished apartment sea view near House for rent situated in aghakan hospital 3 bed room mikocheni B, @ 2500 pm. Mobile: 0759172599./ 0716 779953 low density, securely fenced plot of 1000sqmt. Ideal for residence or office available furnished or USD 3500 unfurnished, 4 bedrooms, 2 ensuite Mob:0756960960, 0714444250 rooms 1 study room, large living room, dining room, fully equiped Lovely apartment fully furnished, @Masaki, 3 rooms, pool, parking, kitchen, 3 bathrooms and toilets, good water supply and storage gym, ocean view, tanks large backyard lawn and Tarmac road, in a conducive gazebo can park more than 6 cars, environment with fresh air.USD front terrace. 2000 Tel: +255 718 907 554, Mob:0756960960, 0714444250 +255 784 855 824 4 sale, exclusive house suitable for +255 762 879 977 dispensary, hostel, lodge at mabibo, Price 200m call 0712-222905
Place your Classifieds HERE for FREE classifieds@darproperty.net
Apartment To Let 2bedroom apartment to let mikocheni b. dining,kitchen, large sitting, with an ac. fully furnished. call 0682 193570. / 0713 853369 Apartment in UPANGA to Let: 3 Bedrooms 2 Bathrooms Balcony 2 Garaged Parking 24hrs Security Newly Refurbished Unfurnished Situated on Aly Hassan Mwyini Rd, Upanga. Contact : 0756-888812 Apartment to let @Masaki, plot 530, above Ristorante Bella Napoli, beside Marry Brown. 95sqm, 2 self contained bedrooms, fully furnished with standby generator & security. Contact 0754 290 490 Furnished apartment sea view near aghakan hospital 3 bed room @ 2500 pm. Mobile: 0759172599. 0716 779953 Furnished apartment at mikocheni 3 bedroom, pool, gym @ 2500 pm. Mobile: 0759172599. 0716 779953 Furnished apartment at msasani 3 bedroom, @ 1500 pm Mobile: 0759172599. 0716 779953 Furnished apartment sea view near aghakan hospital 3 bed room @ 2500 pm. Mobile: 0759172599./ 0716 779953 USD 3500 Mob:0756960960, 0714444250 Lovely apartment fully furnished, @Masaki, 3 rooms, pool, parking, gym, ocean view, Tarmac road, in a conducive environment with fresh air. USD 2000 Mob:0756960960, 0714444250 Apartment, Opposite TMJ Hospital, One unit of 50 units in a gated secure compound, Compound facilities include: Full power backup, Swimming pool Gym, Water supply, Security External maintenance and Gardening, Call: +255 767 881 864
Real Estate
REAL ESTATE The ABCs of REAL ESTATE MARKET Exclusive agency: listing: bars the property owner from hiring more than one broker, but it still allows her to sell the property on her own without payment of a commission. If the property owner sells the property through her own efforts, the listing agreement comes to an end. There is then no liability on the owner`s part to pay a commission. Escrow Agent: An entity that has fiduciary responsibilities in the transfer of property from one party to another. Typically associated with selling or buying a home or other property, the escrow agent will secure the property and examine documents to make sure that the terms of the sale are met on each end, serving both the buyer and seller in the transaction. Plottage value: Is the incremental increase in value that results from the combination of two or more parcels of land to form one large parcel that has greater utility and hence a greater market value than the individual parcels. For example, assume existing zoning laws permit a four unit apartment building on a 10,000 square feet lot. If an adjoining lot of the same size can be purchased, zoning laws will permit a ten unit apartment building.
Photo & company estate agency 0786-962444 0715-280770 0754-280770
octavianifocas@yahoo.com
HOUSE FOR LEASE MSASANI PENINSULA 2bedroom bungalow house at msasani peninsula,fully furnished,stand alone,big stand by generator.vailable now price is $2500 KAWE BEACH 4bedroom bungalow house,right on the beach,fully airconditioned,stand by generator,plenty of water, price$3000 MBEZI BEACH 5bedroom house at mbezi beach ,double stories,new house, well maintained garden, all fully air conditioned, price is$2500 per month MBEZI BEACH AREA 5bedroom house,double stories,big compound, nice garden,big swimming pool and stand by generator,vailable now, price is $3500 per month. OYSTERBAY one bedroom apartment,fully furnished,available for long term or short term, price is $1000 Now we are at Morogoro store near former karibu hotel, OYSTERBAY
Real Estate Agents Directory ABLA ESTATE DEVELOPERS & AGENCY CO.LTD Mikocheni Opposite Shoppers Plaza P.O BOX 3810, Dar es Salaam Tel +255 22 2772506 E-mail: ablaestate@bol.co.tz AFRICA PROPERTY LIMITED Old Mwenge Rd, Agip House P.O BOX 32822, Dar es Salaam Tel +255 22 2771834 Mob; +255 784 781242 Email: sendim@consultant.com AMBASSADOR REAL ESTATE AGENCY Sinza Palestina - CCM bldgs P.O. Box 62067 Dar es Salaam Mob: +255 784 252741 BRIDGEWATER CO. & REAL ESTATE Location - Chole rd 516 Masaki 0719 622 998 0784 607 160 CITY PROPERTY LTD Nkrumah Street P.O BOX 831 Dar es salaam Tel +255 22 2116646 Mob +255 754 375967 Email: gold@cats-net.com COMFORT ZONE Plot 22/7 Kaunda Road P.O BOX 31010 Dar es Salaam +255 773 805 360 Email: comfortzonetz@gmail.com ESTIA Maktaba business square park P.O. Box 23347 Dar es Salaam +255 753 782837 info@estiatz.com GIMCO ESTATE AGENCY LTD Samora Ave, NIC Investment Hse, P.O BOX 8382 Dar es salaam Tel +255 22 2120988 Mob +255-784 900041
The Darproperty magazine
2 The DarProperty March - April 2012
GOLDBERG COMPANY LTD Real Estate & Mining Trade P.O. Box 22159 Dar es Salaam Old Bagamoyo Rd, Mikocheni B, 0715 270 517 0754 270 517 goldbergtz@gmail.com www. goldbergtz.com GOLDEN LAND SHELTER LTD Sokoine Road P.O BOX 12067, Arusha Tel +255 27 2507625 HAMPTONS PROPERTIES TZ Haidery plaza - 1st floor upanga/kisutu street P.O.BOX 6547 DARESSALAAM hamptonspropertiestz@gmail.com, a_kito@yahoo.com 0654 204083/ 0784 323133 H & R CONSULTANTS LTD PPF Towers, Garden/ohio street P.O BOX 70703, Dar es salaam. Tel +255 22 2130073 IMAGE PROPERTIES & ESTATE Pugu road, Quality Plaza 2nd Floor West Wing P.O BOX 70117, Dar es Salaam Tel 255 22 2862 092 Mob +255 777 420675 Email: info@ipe.co.tz KATIGA HOUSING EXPERTS P. O. Box 65490 Dar es Salaam Tanzania Tel:+255 2270 1915 Cell: +255 764 763 186/ +255 658 763 186 Email: info@katiga.co.tz/ katigahousing@gmail.com Website: www.katiga.co.tz KNIGHT FRANK International House 3rd Floor, Garden Avenue. P.O BOX 9333, Dar es Salaam. Tel +255 22 2113300
MERINYO HOUSES LIMITED (MHL) Oysterbay,Bongoyo/Hill RD Tel:0784-336633/0658-181193 Email:merinyohouses@gmail.com MY BEACH Old Bagamoyo Rd. opp Yuasa auto impex P.O BOX 105200. Dar es Salaam Tel; +255 22 2701710 PHOTO & CO.ESTATE Kahama Road/Msasani peninsula P.O BOX 105121 Dar es Salaam. 0786 962 444 Email; Octavianfocas@yahoo.com. PROPERTY CONSULTANCY & SERVICES LTD
2nd Floor Kevin House - Samora Avenue P.O BOX.7152 - Dar Es Salaam +255 22 2120402, +255 713 690 220 info@pcsltd.co.tz www.pcsltd.co.tz
PRESTIGE PROPERTIES Phone: +255-713-764-447/ 0767471293 Tel:+255-22-266-4373 Email:info@prestigeproperties.co.tz Website:http://www.prestigeproperties.co.tz SAK SERVICES Estate Agent - Dar es Salaam Mob: +255 787 591 995 schande@bol.co.tz SKYMARK REALITIES LTD Zanaki st. - Alimanga bldg Tel: +255 22 2 134422/33 TZ REAL ESTATE AGENTS LTD Head Office: 7th Floor Amani Place Ohio Street Dar es Salaam Tel: +255 756 960-960/ 0714 444 250 info@tzrealestate.co.tz www.tzrealestate.co.tz Treld Company Ltd P.O BOX 7656 Dar es Salaam Location Msasani Peninsular off toure drive +255 732 222 888, +255 716 777 999 treldestates@yahoo.com www.treld.co.tz
List your Company here send details to sales@darproperty.net
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Miss your copy NO MORE Read this Magazine online. Visit www. darproperty.co.tz
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$120,000 Onwards
“TWIN TOWER”
DEVELOPER MAJESTIC DEVELOPERS LTD
2-3 & 4 Bedrooms Modern Apartments Gymnasium Speed Lifts Swimming Pool Secured Car park Shopping Complex
PROPOSED RESIDENTIAL / COMMERCIAL BUILDING ON PLOT NO. 478/479, AT MINDU STREET, UPANGA DAR ES SALAAM, TANZANIA
CCTV Intercom Security Ambulance Fire panic Panic
Upanga Mindu street, close to Al-Muntazir and IST school +255 767 786077,+255 767 786088 | zahradevelopersltd@gmail.com
Investing in Real Estate requires a good investment knowledge but no one should over look the quality of the construction materials. Savvy investors GO for TBS approved materials. TBS offers standards and facility of material testing. For further Details
Tanzania Bureau of Standards - TBS Ubungo, Morogoro Road / Sam Nujoma Rd. P.O. Box 9524, Dar es Salaam, Tanzania. Tel.: +255 22 245 0298 | +255 22 245 0206 Fax: +255 22 245 0959 E-mail: info@tbstz.org