The
November 2014
Featuring Properties from Tanzania & Kenya
www.darproperty.net
East Africa’s Ultimate Property Guide
FREE COPY
Issue No 33 | ISSN 1821-7753
SA
T: +254 (20) 2724848 M: +254 (739) 203032 M: +254 (722) 203032 info@axisre.co.ke www.axis.co.ke
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Publisher
AVAILABLE FROM:
Darproperty Tanzania Editor In Chief
Larson Chumi
editor@darproperty.net
Zanzibar
Dar Es Salaam
Slipway J. D. Pharmacies Airport Terminal 2 All Shopping Malls Village Supermarket NHC - Head Quarter Scholastica Book Shops All Novel Idea Book Shops Premium Super Markets Bundu Shop - Southern Sun Oysterbay Shopping Center Nakiete Pharmacy - Mwenge Home Shopping Center Renowned Hotels & Offices Tanzania Investment Center (TIC) All Major Real Estate Agents
Chavda Hotel Dhow Palace Beyt al Chai Hotel Zanzibar Coffee House Mtoni Marine Hotel Zanzibar Café Stone Town Café Diplomatic Supermarket Tembo House Hotel Maru Maru Hotel Zanzibar Serena Hotel
Arusha
Nairobi
Mt Meru Hotel Ngurdoto Hotel Kibo Palace Hotel Impala Hotel Naura Spring Hotel Themi Suites Njiro Complex TFA Complex New Arusha Hotel Naazi Hotel Barista Cafe All Major Banks Woolworth Stores JJ black Stores Snow Crest Hotel Smart Choice Supermarkets Shoprite Supermarket
Business Development & Products
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Alan Peter Dennis Maunga
dennis@darproperty.net
Marketing & Sales
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michael@darproperty.net
Distribution
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Accounts Executives Grey Mateni Faraji Senkoro Office Assistant.
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Mikocheni B - Bima road, P.O. Box 105499 Dar es Salaam +255 22 2780 517 +255 784 238 962, +255 713 751 868 info@darproperty.net Distribution Should you have problems in obtaining copies of DarProperty Magazine, please contact
+255 713 888 036 +255 717 270 791
For Comments, Complains & Compliments pr@darproperty.net Country Director - Kenya Xavier Nanchengwa
Disclaimer The Darproperty is published by Darproperty Tanzania Company. All rights reserved. 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.
This magazine is registered by the government of United Republic of Tanzania under the newspaper Act no. 3 of 1976 and the Postmaster General. Registration No. 00005562
The DarProperty March 42 The DarProperty September 2013
- April 2012
4 | The Darproperty - Nov 2014
COMING SOON
The Darproperty - Nov 2014 | 5
Shati House, behind Exim Bank - Clock Tower Plot No. 58, Block E Sokoine road, Arusha +255 754 337 899 +255 786 337 899 info@arushahomes.com
For rent | $1,000 / month
4 Bedroom House - Tengeru
For rent | 800 / month
3 Bedroom Fully Furnished House - Njiro
For rent | $2000 / month
3 Bedroom Fully Furnished House Njiro Gorofa Mbili
For sale | $185000 / month
3 Bedroom House - Near Njiro Complex
For rent | Price on request
3 bedroom House - Tengeru / Arusha Fully Furnished
For sale | $101,000 - 450,000
2 - 5 Bedroom Apartment - Njiro PPF
For rent | $600
3 Bedroom House - Njiro
For sale | Price on request
2 Bedroom House, Kwa Mrefu
For rent | $650 / month
3 bedroom House
For more properties visit: www.arushahomes.com
6 | The Darproperty - Nov 2014
silver standard
QUALITY & LONG LASTING ELECTRIC FENCE
gold standard
Up to 5 yrs warrant GSM Intergrated
CCTV Automatic Gates Behind Shamo Park House +255 658 300 969 cg-consultco@outlook.com The Darproperty - Nov 2014 | 7
”Tanz ani a´ sl eadi ngl and& pr oper t ya gent ” www. t z agent s . com DaresSa l a a m
Pr oper t yi mg
Pr oper t yi mg
Pr oper t yi mg
Pr oper t yi mg
FOR SALE Mbezi Beach – beach front USD 1,495,000
FOR RENT Upanga – ocean front From USD 1,600 / month
FOR RENT Oyster Bay – 3 b/r USD 3,200 / month
FOR RENT Bahari Beach – 3 b/r USD 500 / month
Ar us ha
Pr oper t yi mg
FOR RENT Njiro – 2 houses – 6 b/r USD 600 / month
Pr oper t yi mg
Pr oper t yi mg
Pr oper t yi mg
FOR SALE Njiro – 3 b/r USD 70,000
FOR SALE Sakina – 2 b/r USD 95,000 negotiable
FOR RENT Njiro – great views – 3 b/r USD 800 / month
Ta nga/Pa ngani/Zanz i ba r
Pr oper t yi mg
Pr oper t yi mg
Pr oper t yi mg
Pr oper t yi mg
FOR SALE Sange – 6 acres USD 125,000
FOR SALE Pangani – Ushongo USD 175,000
FOR SALE Sadaani - lodge USD 495,000
FOR SALE or RENT Pangani – lodge Price to be discussed
Cont a c t s Da re sSa l a a m
Raphael Nondi
Manager Dar es Salaam Tel. +255 717 032 633 raphael.nondi@tzagents.com
8 | The Darproperty - Nov 2014
Ar us ha
Anders Wehtje
Founder Tel. +255 785 984 467 anders.wehtje@tzagents.com
Tanga/Pangani
Annabel Burdes
Representative Tanga / Pangani Tel. +255 784 632 529 annabel.burdes@tzagents.com
Pr oper t yoft hemont h! Mbez iBeach-USD625, 000
PHOTO
PHOTO
PHOTO
PHOTO
Thi spr oper t yi sf oundi nMbe z iBe a c h. Thec ompoundme a s ur e s4, 430s qm wi t h2 hous e sont hegr ounds . Thema i nhous ec ons i s t sofat wos t or e ybui l di ngwi t h4 be dr ooms , as pa c i ousdi ni ng-/l i v i ngr oom, ki t c he nwi t hs t or e , l a undr yr oom, s t udi oand 2a ddi t i ona lba t hr ooms . Thehous ea l s oha saba l c onya ndv e r a nda ht ha tpr ov i de ss e a v i e wa ndapl e a s a ntbr e e z e . Out doorf a c i l i t i e si nc l udes pa c i ouss wi mmi ngpoolwi t h2 pumpsa nds e pa r a t epumphous e . Thes ma l l e rhous ec ont a i ns3be dr ooms( 1mas t er ) , l i v i ngr oom, di ni ngr oom, ki t c he na ndonea ddi t i ona l WCwi t hs howe r . Re l i a bl ewa t er s uppl yf r om 2di f f e r e ntwe l l swi t h35, 000l i t r e ss t or a ge . Powe rbyTa ne s c owi t h27kVA ba c kupge ne r a t or . St a f fqua r t e r swi t h1be dr oom, l i v i ngr oom, ki t c he n, s howe randWC. Thewhol epr ope r t yha sahi ghs t a nda r df i ni s hi nga ndwa sde s i gne da ndbui l tby Eur ope a ns . Ma t ur ega r de nwi t ht r e e sa ndf l owe r s . Thepr ope r t yi swe l lf e nc e d. Cl ea n t i t l ede e d. Thi si shi ghqual i t yf r om wha t e v e ra s pe c ty oul ooka ti t ! The Darproperty - Nov 2014 | 9
10 | The Darproperty - Nov 2014
Coming Soon in Dar
Renaissance Plaza is an upcoming commercial building located in the prime area of Masaki, conveniently situated on Haile Selaise Road, Masaki. Renaissance Plaza is the ideal location for your new office. It is in close proximity to colosseum Gym, Supermarkets and Restaurants.
The modern executive offices and spacious shops have completed ceilings and floors, as well as Central Air-conditioning system. We offer Space for Rent for Offices, Shops, Restaurants and Supermarkets.
For rental enquiries please contact +255 (0) 689 578 785
md@nevadaproperties.co.tz
The Darproperty - Nov 2014 | 11
in
NAIROBI
BOOK YOUR SPACE NOW: NAIROBI +254 728 99 25 31 +254 720 35 34 37
12 | The Darproperty - Nov 2014
TANZANIA +255 784 23 89 62 +255 688 75 18 68
samsa real estate ltd “Where customer needs are fulfilled”
Make yourself at Home, Samsa Real Estates offers a personally inspected selection of privately owned, furnished accomodations for rent which includes everything quality, heritage stlyed homes to luxury downtown apartments.
FEATURES: Offices Fully furnished Swimming pool Modern kitchen appliances Fully equipped gym Air conditioning Standby generator Elevator 24hrs Ample parking DSTv connection High-end security & CCTV cameras 24 hour Management service
CONTACT US: +255 22 2181918. +255 22 2181941, +255 784 440272, sas007tz@yahoo.com Plot No. 84/36G Rashid Kawawa Road Opp. Biafra Play Ground Kinondoni The Darproperty - Nov 2014 | 13
14 | The Darproperty - Nov 2014
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FEATURES: ! Ocean views ! Private beach* ! Swimming pool ! Modern kitchen appliances ! Fully equipped gym ! Air conditioning ! Standby generator ! Elevator 24hrs ! Ample parking ! DSTv connection ! High-end security & CCTV cameras ! 24 hour Management service LOCATION: Old Bagamoyo Road, Plot 389/1, 389/2 (opposite JKT) Plot 77B/2 (near Msasani Beach Club)
�����������������������
CONTACT: reefaptms@gmail.com oceanwaveaptms@gmail.com *
Ocean Wave Apartments
The Darproperty - Nov 2014 | 17
Testing building materials and structures including quality control in the laboratory and site investigations AND MANY MORE....
18 | The Darproperty - Nov 2014
LOCATION TO OUR OFFICE
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Hotels | Supermarket | Offices | Stores | Warehouse | Building | Apartment | Homes | Cleaning Services, Landscaping,High-rise Window Cleaning, Fumigation, General Building Maintenance, Fire Safety & Protection Equipment, Sanitary & Hygine Consumables.
+255 762 48 48 78 | 784 50 95 31
20 | The Darproperty - Nov 2014
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SAPPHIRE
NOW RENTING
HEIGHTS
Sapphire Heights is a newly developed residential building located in prime area of Masaki, conveniently situated on Haile Selassie.The property offers fully furnished luxurious and spacious 3 bedroom apartments, with amenities including:Parking, GYM, Swimming pool, Standby Generator, and24 hour security.The propertyislocated within close proximity to colosseum Gym, Sea Cliff Hotel, Supermarkets and Restaurants.
For rental enquiries please contact: Cell: +255 (0) 689 578 785 Email: md@nevadaproperties.co.tz
OTHER PROPERTIES FOR RENT IN MASAKI
SEA PRINCESS APARTMENTS
22 | The Darproperty - Nov 2014
DAYS INN APARTMENTS
24 | The Darproperty - Nov 2014
REAL ESTATE The ABCs of REAL ESTATE MARKET STABLE MORTGAGE a mortgage loan instrument that combines fixed and adjustable rates in the same loan. The rate applied to the loan is a blend of fixed rate and a rate varies according to an INDEX . The loan is a creation of General Eclectic Capital Mortgage service Inc and FNMA. EXAMPLE: There are two versions of the stable mortgage: one with a 50/50 mix and one with a 75/25 mix of fixed and adjustable rates. If the loan is original at an interest rate of 6% and the index justifies changing the adjustable portion of the ratio to 7%, the 50/50 option would carry a rate of 61/2%, while the 75/25 option would adjust to 61/4%. FIRST TIME HOMEBUYERS people who are in the market to buy a home for the first time. They are either setting up a household for the first time (possibly after leaving college or their parent’ home) or currently rent their residences. Someone who owned a home in the past but has spent the last several years renting can also be considered a first –timer. EXAMPLE: some countries offer programs to provide low mortgage interest rates to qualified first-time homebuyers. Besides being a first timer, the homebuyer must meet a limited income level to qualify for the program. ABSORPTION RATE an estimate of the expected annual sales or new occupancy of a particular type of land use. EXAMPLE: A total of 1,000 new homes are available for sale on the market. Each month for the past three months 100 homes have been sold and an equal number of new homes built and added to the supply. The monthly absorption rate is 10% (100 sales/1,000 inventory)
DAR ES SALAAM:22 2112515/6 • KARIAKOO:22 2184867 ARUSHA:27 2547317/8 • ZANZIBAR:24 2234660/1 • MWANZA:28 2541971/2
www.dayliff.com
BUYOUT Arrangement by the owner of a building to acquire the remaining lease term of a tenant in a different building. This frees the tenant from the old lease obligations and permits him/her to negotiate a lease in the new building. EXAMPLE: Citizen ‘Inc., a tenant wants to move to a new building that is currently under construction. However, Citizens, has four years left on its lease and is responsible for those payments. The new building’s owner proposes a buyout whereby it would become responsible for the remaining term of the old Citizen lease as part of the incentive it give to Citizens’ to move to its new building when construction is compete. TEASER RATE a contract interest rate charged on an adjustable rate mortgage for the initial adjustment interval that is significantly lower than the fully indexed rate at the time. It is an incentive to encourage borrowers to accept adjustable – rate mortgage loans. In general, the interest rate reverts to the fully indexed rate first adjustment date, EXAMPLE: An adjustable rate mortgage is indexed to the average contract rate for mortgage loans made by all lenders. Although the current average rate is 7%, the loan is offered at a teaser rate 0f 5%. The Darproperty - Nov 2014 | 25
Rent-To-Own Homes. How The Process Works
I
n a typical home purchase, the sale takes place shortly after the offer has been accepted, and the transaction is completed at closing. Since most buyers don’t have the money to pay cash, a mortgage is usually used to finance the purchase: The buyer puts down a certain percentage of the purchase price (the down payment), then pays the lender in regular installments over a period of time until the balance is paid off in full. To qualify for a mortgage, however, potential buyers need to have a good credit history and cash for a down payment. Without these, purchasing a home in the traditional way may not be an option. There is an alternative: a rent-to-own agreement. When buyers sign this kind of contract, they agree to rent the home for a set amount of time before exercising an option to purchase the property when or before the lease expires. Here’s how rent to own works, and when it may be a good choice for someone looking to buy a home. Elements of a Rent-to-Own Contract 26 | The Darproperty - Nov 2014
In a rent-to-own agreement, potential buyers gets to move into a house right away, with several years to work on saving for a down payment. While many nations have their own regulations, and no two rent-to-own contracts are alike, someone in a rent-to-own agreement typically rents the property for a set amount of time (usually one to three years), after which he or she can purchase the house from the seller. It’s not as simple as paying rent for three years and then buying the house: Certain terms and conditions must be met, in accordance with the contract. Option money. In a rent-to-own agreement, the potential buyer pays the seller a onetime, usually non-refundable fee called option money, or option consideration. This gives him or her the option to purchase the house in the future. It is important to note that some contracts (lease-option contracts) give the potential buyer the right but not the obligation to purchase the when the lease expires; if he or she decides not to purchase the property at the end of the lease, the option simply expires. If the wording is “lease
purchase,” without the word option, the buyer could be legally obligated to purchase the property at the end of the lease. Clarifying the wording is one of many reasons buyers should have the contract vetted by a real estate attorney before agreeing to it. The size of the option is negotiable. There’s no standard rate; it typically ranges between 2.5% and 7% of the purchase price. In some (but not all) contracts, all or some of the option money may be applied to the purchase price at closing. That’s a valuable clause: Consider that if a home has a purchase price of $200,000 and a 7% option consideration, the buyer would need to pay $14,000 up front. Purchase price. The contact will specify when and how the purchase price of the home will be determined. In some cases, the buyer and seller agree on a purchase price when the contract is signed – often at or higher than the current market value. In other situations, the buyer and seller agree to determine the price when the lease expires, based on market value at that future point in time.
Real Estate Investment
fees, property taxes and insurance. Because the seller is ultimately responsible for municipal and other fees, taxes and insurance (it’s still his or her house, after all), the seller may choose to cover these costs. Even in that case, the buyer still needs a renter’s insurance policy to cover losses to personal property and provide liability coverage if someone is injured while in the home or if the buyer accidentally injures someone. Be sure that maintenance and repair requirements are specified in the contract. Maintaining the property – mowing the lawn, raking the leaves and cleaning out the Many buyers prefer to “lock in” the purchase gutters – is very different from replacing a price if possible, especially in markets where damaged roof. Purchasing the property. If the potential home prices may be increasing. buyer decides not to purchase the property Rent. During the term of the lease, the (or is unable to secure financing) at the potential buyer pays the seller a specified amount of rent, usually each month. The lease end of the lease term, the option expires. The buyer forfeits any money paid until term is negotiable, but frequently ranges that point, including the option money and between one and three years. In many contracts, a percentage of each monthly rent any rent credit earned. If the buyer cannot payment is applied to the purchase price. For purchase the property but has a legal example, assume the contract states that the obligation to (as stated in the contract), legal proceedings may be initiated. buyer will pay $1,200 each month for rent, and that 25% of that will be credited to the If the buyer wants to purchase the property, he or she typically applies for financing purchase. If the lease term is three years, the buyer will earn a $10,800 rent credit to (i.e., a mortgage) and pays the seller in full. According to the terms of the contract, apply toward the purchase ($1,200 x 0.25 a certain percentage of the option money = $300; $300 x 36 months = $10,800). and rent paid may be deducted from the Often, the rent charged by the seller will purchase price. The transaction is completed be slightly higher than the “going rate” for the area to accommodate the rent credit the at the closing, and the buyer becomes a homeowner. buyer receives. Ideal Candidates for Rent to Own Maintenance. Depending on the terms of A rent-to-own agreement can be an excellent the contract, the potential buyer may be responsible for maintaining the property and option for people who want – but are not financially ready – to become homeowners. A paying for any repairs, municipal and other
rent-to-own agreement gives them the chance to get their finances in order (by improving on their saving money for a down payment, for example) while “locking in” the house they’d like to own. If the option money or a percentage of the rent goes toward the purchase price, they also get to start building some equity. To make rent to own work, potential buyers need to be confident that they’ll be ready to make the purchase when the lease term expires. Otherwise, they will have paid the option money – which could be substantial – and a premium on rent for 12 to 36 months, with nothing to show at the end. If there’s a good chance would-be buyers still won’t be able to qualify for a mortgage or secure other financing by the time the lease expires, they should instead continue renting (with a “normal” lease), building credit and saving for a down payment. Then, when they’re ready, they can choose from any home on the market in their price range. The Bottom Line A rent-to-own agreement allows potential buyers to move into a house (maybe even their dream home) while getting their finances in order to purchase the home several years in the future. It’s not without risks, since they could end up losing money if they don’t (or cannot) buy the property when the lease expires. It’s vital for buyers to read and understand every word of the contract and know exactly what they’re getting into. Written by Jean Folger
The Darproperty - Nov 2014 | 27
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The Darproperty - Nov 2014 | 29
Ask the Expert Real Estate Laws
Q: Hello. I am a diplomat residing in Tanzania and have recently been faced with a situation that requires your help. Can you please tell me, do diplomats have to pay Stamp duty on transactions involving real estate made whilst on diplomatic missions? JQ A: Hello JQ, well sadly we don’t have much information to give you a more comprehensive answer to your question perhaps once you have read this and inquire more, you will provide us with more to go on. However to answer you basing on the information at hand, the law is that, diplomatic Missions are exempted from paying such duties, this the Diplomatic and Consular Immunities and Privileges Act, CAP 356 [RE:2002] which incorporates Articles of the Vienna Convention on Diplomatic Relations under Article 23(1) that reads as follows: “The sending state and the head of the mission shall be exempted from all national, regional or municipal dues and taxes in respect of the premises of the mission, whether owned or leased, other than such as represent payment for the second schedule to the Immunities and privileges Order which are made under Section 19 of CAP 356 [RE:2002], paragraph (iv) provides immunity for Stamp duties and land registration fees in respect of transactions relating to his
Well we are very sorry about your situation sir and the stress you have been going through. and the registration of the transfer by Well the Land Act cap 113 [RE 2002] under the registrar of titles was similarly void. Hence a person cannot be entitled to occupancy need to be signed and sealed by their own fraud. the commissioner. It goes further to say that the
We hope this helps.
is issued have to sign at the bottom of the Q: I have a Real Estate Management company that was registered in 2010 and I want to make changes to the can be used as proof, the documents purporting memorandum and articles of the to transfer ownership of a right of occupancy company. How do I go about it? Is there must be registered otherwise those document some sort of a procedure to follow? are invalid and ineffectual. Also from the facts Thank you PM of the case it clearly shows that the supporters were doing this to deceive the buyers or in the long term to deceive the court so that the court Hello PM, well The Companies Act, can enter judgment in their favor to which will CAP 212 [RE 2002] provides for not happen. In the case of Othman Kawila modes in which and the extent to which Matata .v.Grace Titus Matata TLR [1981] 23 memorandum and articles of association the defendant caused the deceased person may be altered. However the alteration who was proved by the medical consultant to of the provision of memorandum must be of not the right mind and could not make be with respect to the objects of the rational judgment to execute deed of transfer company by passing special resolution. in her favor. The transfer was approved by the The procedures for alteration of registrar of title. In court, the judge was of the memorandum of the Association of the view that deed of transfer was acquired by company are provided for under Section fraud for the reason of state of mind of the 8 of The Companies Act, CAP 212 [RE deceased person the transfer was void, the 2002] cited above, that: (1) Alteration
Q: My name is Juma, a resident of Dodoma. I had a plot at a very lucrative area but about two years ago I sold it to a friend of mine. However a week ago someone else came to me claiming that I had sold it to them about 7 years ago. They have my name and a signature on the documents that were used for the transfer. They claim to have paid money through a person with a power of attorney to execute the sale. They say that i have fraudulently involved with that other person to defraud them in purchasing the said plot. I have never signed those documents and I don’t know those people. I know that they have forged everything and this amount to fraud, I think. If we go to court will they be entitled to their own fraud?
30 | The Darproperty - Nov 2014
Ask the Expert Real Estate Laws
to be done in general meeting.(2) Proper notice of general meeting for 21 days with agenda item included. Read Regulation 40 of Table A of the companies Act, cap 212 (3)Special resolution must be passed as per section 8 (1) of the Companies Act, Cap 212(4)The company must petition to the High day memorandum of association is altered. (5)If no application is made in respect of cancellation of the said alteration within 30 days after the date on which the resolution altering company’s memorandum was passed, then within 14 days from the end of the period for making such application,
However, with regards to the alteration of the articles Section 13 of The Companies Act Cap 212 [RE 2002] provides for the alteration of Articles of Association of the Company. The procedures are as follows; (1) Alteration be done in general meeting (2)Proper notice of general meeting for 21 days with agenda of altering company’s articles of association. As per Regulation 40 of Table A of the Companies Act.(3) Special resolution must be passed as per section 13(1) of the Companies Act Cap 212 (4)Submitting to the High court the altered articles and special resolution within 14 days for the High court to satisfy itself on whether proper procedure was
then together with altered Articles must be to the registrar of the companies for taken to the Registrar of the companies for registration. See section 8(2) and 8(9)(a) of registration. The procedures for altering the Companies Act, Cap 212. memorandum and articles of association of
the company are almost the same. You should however take note that, any alteration whatsoever shall be in the mode and to the extent for which express provision is made under The Companies Act. Please do send us your question to: abcattorneystz@gmail.com/info@ abcattorneys.co.tz or mail it to : ABC ATTORNEYS. IT PLAZA, 8th FLOOR, OHIO STREET P.O.BOX 105722, DAR-ES-SALAAM TANZANIA (EA) Tel: +255222110236/0713055195/ 0786624901 For more information, you can also read other articles online at www.abcattorneys.co.tz
The Darproperty - Nov 2014 | 31
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LIST YOUR PROPERTY HERE FOR ONLY TSHS 30,000/= VAT EXCL.
vis iga
sale
SALE 100m
1 one acre, Ideal for petrol station 0715/0784 281851
SALE!
aru sha sak ina vic tor ia
SALE
Visiga - Kibaha Has Title Deed No.78280 12,200/= SQM 0756 359529/0754 366531 0754 013550/ 0767 010854 kig am bon i
kib aha vis iga
FOR
Over 14 plots available at Mbagala Charambe 0653 422 222 / 0773 267 268
rent $800 3 bedroom detached house Minutes from Nakumatt Shopping Mall 0783 063005
RENT $1600
2 - 3 Bedroom house, 2 Bathrooms, fully furnished, DSTV 0715 053 803 ubu ngo kib ang u
ubu ngo
mb aga la
joint venture
SALE 700m
3 Acres - Ubungo Msewe 0718 568 482/ 0758 325 491
sale 5,500/= Residential per meter square 6,000/= Commercial / Residential 0755 989 335 / 0755 044 766 / 0767565562
rent $1500 100metres from (UDSM) Road,master bedroom, 2 rooms self contained, servant quarter with its toilet and bathroom, +255-713-690 220
kib aha vis iga
bun ju
price on request Plot for sale at Bunju - few meters o Bagamoyo road 0754 780 650 0789 331 255
sale 3,500/= Residential per meter square 4,000/= Commercial / Residential 0755 989 335 / 0755 044 766 / 0767565562 mli man i cit y
3,500/= Residential per meter square 4,000/= Commercial / Residential 0755 989 335 / 0755 044 766 / 0767565562 kis ara we
4 rooms, 4 bathrooms, 2500sqm 40 Metres from the main tarmac road, +255 713 467 660
kib aha -
kig am bon i
kig am bon i
RENT tshs 900,000/=
kib aha kon gow e
CLASSIFIEDS
simply call 0767 200 202 classiďŹ eds@darproperty.net
KUNDUCHI VILLAS SALE Visiga - Kibaha Has Title Deed No.78310 8,907= SQM 0756 359529/0754 366531 0754 013550/ 0767 010854
SALE 15m 636SQM Gezaulole Temeke Municipality, 0715913814 / 0784913814
SALE 12,000/=Tsh/m2 Plots for sale at Kigamboni, mwasonga-kichangani, 25km from ferry. (price are negotiable. 0717 992 455/ 0787 992 455/ 0767 992 455
kon gow e
gez aul ole
kib aha vis iga
+255 762 545 866 +255 684 425 142
sale 122m 3.05 Acre, Title deed no.78280 0767 010 854 / 0684 010 854
SALE 150,000 3 Bedroom, 2 Bathrooms behind Mzee wa Upako Church 0657 376496
gob a- d sm
NEWLY BUILT. MOVE IN READY! PREMIUM LOCATION VILLAS Kunduchi Beach Villas
sale 50m 11/4 Acre 1 km from Morogoro rd. 0718 568 482 / 0758 325491
RENT $2,200 Four bedrooms, next to St . Joseph millennium secondary school 0767264900
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34 DarProperty August 34 The | The Darproperty - Nov2014 2014
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COMPARING THE REAL ESTATE MARKET IN KENYA: Better to rent than buy. IN TANZANIA: Better to buy than rent.
38 | The Darproperty - Nov 2014
PRICE TO RENT RATIO AS ADVERTISED FOR A 4 (FOUR) BEDROOM PROPERTYIN SELECTED AREAS IN NAIROBI (2014)
NAME OF LOCATION Muthaiga Karen Westlands Parklands Kileleshwa Upperhill Kasarani Langata Gigiri
RENTAL PRICE (USD) SALE PRICE (USD) 3435 1132260 2501 638202 2848 599054 1386 534831 2434 404494 2331 365169 810 192921 2223 372006 3083 835955
P/R 27 21 17 32 13 13 19 13 22
COMMENT Much better to rent than buy Much better to rent than buy Typically better to rent than buy Much better to rent than buy Much better to buy than rent Much better to buy than rent Typically better to rent than buy Much better to buy than rent Much better to rent than buy
PRICE TO RENT RATIO AS ADVERTISED FOR A 4 (FOUR) BEDROOM PROPERTY IN SELECTED AREAS IN DSM (2014)
NAME OF LOCATION RENTAL PRICE (USD) SALE PRICE (USD) Masaki 5806 162095 Oysterbay 5043 205190 Ada Estate 4500 107100 Msasani 3200 99790 Upanga 2434 147900 Mikocheni 1942 71400 Kawe 2470 49300 Mbezi Beach 1806 19380 Kijitonyama 577 40800
BENCHMARK On average, in most major western countries cities, the P/R ratio fluctuates between 15 and 25. Note When making the decision to rent or buy a home, it’s not enough to look at home prices and mortgage rates. You also need to look at rental rates for comparable properties to understand if it makes more economic sense to buy or rent on a long-term basis. One useful tool is the rent ratio, the ratio of the purchase price of a house divided by the annual rent of a similar home. The rent ratio mimics a flipped version of a metric used in evaluating stocks, the dividend yield. In the case of residential real estate, however, it’s the inverse, the stock price (home price) divided by the
P/R 2 3 2 3 4 3 2 1 6
COMMENT Much better to buy than rent Much better to buy than rent Much better to buy than rent Much better to buy than rent Much better to buy than rent Much better to buy than rent Much better to buy than rent Much better to buy than rent Much better to buy than rent
dividend (rent). The concept in play is that every asset has a fundamental value that equals the present value of its future payoff. For stocks, that payoff is its dividend. For a home, that future payoff is a roof over your head. The proxy used for the value of that is the rent one pays for a similar asset in the same market. Experts vary in their opinions as to where the rent ratio tipping point is, but most would agree that it is around 15-20. The higher the ratio, the more you would need a spike in housing prices in the coming years to justify the price you are paying today. So at those levels, it makes sense to
• Price-to-rent ratio of 16 to 20 = typically better the rent than buy
• Price-to-rent ratio of 1 to 15 = much better to buy than rent
Data gathered by: Yusuph Mhando.
• Price-to-rent ratio of 21 or more = much better to rent than buy Price to Rent ratio as Advertised for a 4 (four) Bedroom Propertyin selected Areas In NAIROBI (2014) consider renting. Conversely, if you have a ratio below 15, it may make sense to consider buying a home rather than renting at least from a purely financial perspective.
The Darproperty - Nov 2014 | 39
40 | The Darproperty - Nov 2014
The Darproperty - Nov 2014 | 41
Real Estate Agents Directory in Tanzania
DAR ES SALAAM
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
GIMCO ESTATE AGENCY LTD Samora Ave, NIC Investment Hse, P.O BOX 8382 Dar es salaam Tel +255 22 2120988 Mob +255-784 900041
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
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
PRESTIGE PROPERTIES Phone: +255-713-764-447/ 0767471293 Tel:+255-22-266-4373 Email:info@prestigeproperties.co.tz www.prestigeproperties.co.tz
HAMPTONS PROPERTIES TZ Haidery plaza - 1st oor upanga/kisutu street P.O.BOX 6547 DARESSALAAM hamptonspropertiestz@gmail.com, a_kito@yahoo.com 0654 204083/ 0784 323133
Tanganyika Estate Agents Village Walk, close to Sea Cliff Hotel +255 717 032 633 info@tzagents.com
NEW DAY PROPERTY AGENCY COMPANY Mwinyijuma Road - Kinondoni, Room no.84, UVCC Complex +255 753 645 434, +255 717 035 552 +255 767 575 758 www.facebook.com/ raymond samson Laizer
42 The DarProperty August 2014 42 | The Darproperty - Nov 2014
NIKUZE REAL ESTATE AGENCY Morogoro Road P.O Box 10032 Dar Es Salaam Tel: +255 789/754/715/ 363 800 Email: nikuze@nikuze.com www.nikuze.com PHOTO & CO.ESTATE Kahama Road/Msasani peninsula P.O BOX 105121 Dar es Salaam. 0786 962 444 Email; Octavianfocas@yahoo.com.
+255 755 181 222 www.bryanstonproperties.co.tz info@bryanstonproperties.co.tz
KEY REAL ESTATE SOLUTIONS Regent Chwaku North Ursino Tel: +255 22 2701674 0715 053 803, 0786 053 803, 0754 28 46 84 mariam@keyrealestatesolutionstz.com www.keyrealestatesolutionstz.com
MY BEACH Old Bagamoyo Rd. opp Yuasa auto impex P.O BOX 105200. Dar es Salaam Tel; +255 22 2701710
ARUSHA ARUSHA AWESOME HOMES AND PROPERTIES.
Shanti House, Plot 58 Block E Sokoine Road P. O. Box 249 Arusha, Tanzania. info@arushahomes.com www.arushahomes.com +255 754 337 899 / +255 786 337 899 HOMES & PROPERTY AGENCIES LTD Land Surveyors & Property Managers P. O.Box 10079 Arusha Boma Rd. Arusha 0787 805566 hopraltd@gmail.com TANGANYIKA ESTATE AGENTS
Shoprite Complex, +255 785 984 467 info@tzagents.com ZIPO HOMES
Rivergardens Business Park, Rm 4 P.O Box 20 Usa River, Arusha +255 787 474 580/+ 255 754 320 513 info@zipohomes.com www.zipohomes.com
MWANZA MWANZAESTATE Mwanzaestate.com +255 714 245 779 kisolimorris@hotmail.com
ZANZIBAR +255 756 960 960, +255 714 444 250, +255 752 444 606. ARUSHA +255 653 005 530, MWANZA +255 653 005 535, INFO@TZREALESTATE.CO.TZ 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
Zanzibar - properties.com Tel: +255 774 44 19 07 Hotel Marine - Malindi Zanzibar
ENHANCE YOUR VISIBILTY & CREDIBILITY GET LISTED HERE WITH YOUR LOGO Tshs. 48,500/= Monthly / Tshs. 500,000/= Annually +255 784 23 89 62, 0688 75 18 68 | sales@darproperty.net
SURVEY OF PLOTS No............................BLOCK '..............' NAME KINONDONI DISTRICT-DAR ES SALAAM CITY. AD
RO
LE
0
.77 28
5.01
qm
4.45
4s
A=
42
50 5s qm
qm
.83
24
A=
qm
48 2s
9s
61
A=
qm
3s
A= m
sq
A= 6
29
5.6 6
qm
3s
A= 42
A= 42
1s qm
81
16 .64 20
7 T1 .76 3 TP 28
.19
T2
.16
4
26
2
19.7
.95
31
1
LD SO16.02 T6
A=491sqm
A=546sqm
.18
29
22
6
TP
3
20.1 6
TP1
2
GOBA
18
.94
41.04
20.10
T7 7.40
qm
27.46
0s
53
34.59
S
qm
.58
A=
D OL
9s
A=626sqm 21.2
22.5
1
20.8 P15
T
A=832sqm
18.5
T4
54
26
21
A=
A=625sqm
23
PC2
1
4
3
20.8 14
6
PC
T3 1.62 7.05
3
TP
24
T1
.2 31
4
.2 31
1
T
2
1
T12
P5
A=625sqm
6
18.7
.79
4
A=653sqm 18.6
T
5
19.2
0.83
.94 30
25
24
TP
20
23
TP
12
21.4
5 11.1 TP13 12 K6 TP
.73
A=594sqm
10
17
.24
K3
19
31
D
9
OA
5 25.1
A=608sqm
K4
T
14
P4
3 20.8
.95
3.8
'R
5
21
.11
'A
TP 10.9 11 3
9
8
22.9
18.5
6
D
L SO
18
A=498sqm K5
A=663sqm
3
20.8
2
TP
m sq 95 =3 22.12
A
LD SO22.82
P3
12
TA
7
18.5
13 TP35
TP2
.88 31
GE
1
PC
1 TP K1 7 7.6
12
qm 7s 46 A= 21.71 TP34
6 TP2
3 21.9
.13
7
PC
4.90
TE
3 T14 5.93
15
5 T9 PC 12.23 7.76 T10
TP22
4 24.4
18
1 0 2.4
K1
TP33
16
6 10.6 P27 T
K9
21.82
2 29.0
LD
SO
32.71
1
10
17
m
q 6s
19.07 TP32
18.87
K14
10
19.75
11
23.8
16.88
A=
9
K8
TP21 18.41
16.83
23.83
9
6 40
PC10
TP20
16.51
45.48
20.9
8
T20
23.56
5 TP29
TP19
22.94
12.5
s
13
8 A=
K13
9.41
5
1 PC
qm
12.87 T19 TP36
m sq
A=
3.44
6
8
6.6
20
6
T1
21.83
44 A= 1 K1 A12.58 2.56 20.97 TP30 K12 TP31
PC
m
q 9s
1
6 =2
A=353sqm
17.37
25,000/=per m
TP37 K15
6
16.8
8 7.3
7
25.06
8
5
A=340sqm 3 18.41 7 T1 T18 PC9 7.3
m
q 0s
2
22.3
47 TP
5
13.7
50
4
A=539sqm
19.2
3
TP18 K7 TP17 10.67 4 T8 8.68 PC 7.01 7.
TP38
A=
6
7
15.3
46
9.39
16.6
.55
25
A=410sqm 4 24.6
TP
.97
26
48
TP
A=419sqm
T
K16
A=492sqm
T1
3
1
26
P45
2
49
TP
7
20.1
6
36.9
LD SO .96
44
39
TP 7.7
TP
A=1050sqm
TP
20.2
1
LD SO29.26
A=593sqm
50
43
TP
40
TP
A=501sqm
A=482sqm
16.8
5.97
LD SO29.83
1
LDTP51 SO30.06
41
TP
17.1
.84
25
.97
29
7
T
10.4
24
2
Existing Goba Mpakani Secondary school
3
T2
LD
SO
A=467sqm
16.2
12
PC
.42
24
42
TP
2
M
11 PC 2 1 T2 5. 44 T2 10.3
A AD
T5
PC3
P7
T
8
TP
9
TP
10
TP
K2
The plots located at Goba Mpakani area which is situated on the western side of the city of Dar es salaam, 29 kilometers from the city centre, The project covered 30 plots with diffrerent volume mostly are high density and medium density. Also they are set along major road of Tegeta ‘A’ to Madale street, near Goba mpakani secondary school, 30 kilometers from the Dar es salaam port,
0715 76 00 87 | 0784 760 076 The Darproperty - Nov 2014 | 43
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44 | The Darproperty - Nov 2014
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