Arab from USA buys house in Garowe.

[𐒁𐒚𐒒𐒂𐒘𐒂𐒗 𐒎𐒚𐒗𐒗𐒒]

She’s welcome at the end of the day we are all Somalis regardless of regions

She's an old lady, but the rest of them need to be monitored. SNM has done untold damage to Puntland and Somalia with their terrorism.

 

[johnsepei5]

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Cheap real estate and dollarized economy
Is hitting any small time restricted investor’s league

 

[Varriris]

Cheap real estate and dollarized economy
Is hitting any small time restricted investor’s league

How much does one villa cost? I thought real estate was expensive in Somalia

 

[DR OSMAN]

How much does one villa cost? I thought real estate was expensive in Somalia

Somalia property prices are inflated not the true market value property, population pressure and diaspora are shooting up prices not gdp growth(people wallets).

Any house general rule is know the average wage and x by 4, that's it's true market value, the rest is people pressure on limited homes. Somali average income would be $500 at best a month x 12 months is 6000, therefore house prices real value is 6000 x 4, around 20,000.

The rest if u pay above that is due to population growth outstripping existing homes(dead money). I was raised by my abtis @Step a side so I know how to value shit not on (faan) but real dollar. Murusade have a saying Hiil waa Lee yahay lakin lacag si fudud kama baxdo(It's good business practise) I'm the same too. I would honestly not be who I am without my abtis, in all honesty I never even been to PL and only time I went to Somalia was in 99 in Mogadishu.

Murusade seem to be what Nugaal is to Bari and Mudug basically sensible, where as bari is all.loving and welcoming(as u see terrorists take advantage of that) and Mudug folks tend to be all.dismissive and hard core hatred. Nugaal slips in between both polar opposite worlds without being one side to much. Murusade seem to be like that as HG tend to be hard core all hate filled and abgaal tend to be all opening and soft but murusade are more(sensible) balance. That's why Khayre was the best PM hands down compared to other PMS. I'm talking about pre 91 people here also not this shit fest post 91.

 

[Yusuf M]

He'll probably join ISIS.

 

[Vanessa]

Idk but he's giving me Isis vibesz

 

[johnsepei5]

How much does one villa cost? I thought real estate was expensive in Somalia

$70k to 120k for 4 bedroom house

 

[World]

$70k to 120k for 4 bedroom house

Nobody in Somalia can afford a 4 bedroom house for that price. Maybe 0.01 % of the population. It shouldnt cost that much.

 

[johnsepei5]

Nobody in Somalia can afford a 4 bedroom house for that price. Maybe 0.01 % of the population. It shouldnt cost that much.

The houses are not just for locals they are for the millions of diaspora and international buyers like that Arab guy

 

[DR OSMAN]

The houses are not just for locals they are for the millions of diaspora and international buyers like that Arab guy

Targetting diaspora investors is a bad idea, a market is dependent on the volume of people vs their wallets not a small segment overseas they cannot be the engine for a country, maybe the fuel, but the engine has to be local due to volume and scale, they are the ones once rich will make the govt rich thru taxes not diaspora.

 

[Keo]

Foreigners should not be allowed to own land and houses in Somalia

 

[Yusuf M]

Foreigners should not be allowed to own land and houses in Somalia

Somalia for Somalis.

 

[Libaax-Joore]

$70k to 120k for 4 bedroom house

5 years from now will probably cost 400k

 

[Burqad]

Foreigners should not be allowed to own land and houses in Somalia

Only foreigners from hostile countries.

 

[Malsi]

Nobody in Somalia can afford a 4 bedroom house for that price. Maybe 0.01 % of the population. It shouldnt cost that much.

I agree. It's appleaing though to my community here in Seattle, Wa. I don't have to worry about buying the land first, and going through:

1. Court system iyo magac wareejin.
2. Dhulwareejis and ensuring no neighbour inuu igu soo durko when your qurbo joog.
3. Getting CE to artitechture your design and assign a building company to build it.
4. Furniture from Dubai?

Too much work for most of us diaspora being busy with Wife, Kids and work.

 

[World]

The houses are not just for locals they are for the millions of diaspora and international buyers like that Arab guy

You shouldnt be allowed to buy property back home unless you lived there for a few years.