Darproperty nov 2014 issue

The Darproperty - Nov 2014 | 1

The

Issue No 33 | ISSN 1821-7753East Africa’s Ultimate Property GuideNovember 2014

www.darproperty.net FREE

COPYwww.darproperty.netCOPOPO Y

SAPPHIRE

NOW RENTINGHEIGH

T

see page 23 for details

T: +254 (20) 2724848M: +254 (739) 203032M: +254 (722) 203032

[email protected]

Featuring Properties from Tanzania & Kenya


4 | The Darproperty - Nov 20144 The DarProperty September 2013The DarProperty March - April 20122

Dar Es SalaamSlipwayJ. D. PharmaciesAirport Terminal 2All Shopping MallsVillage SupermarketNHC - Head QuarterScholastica Book ShopsAll Novel Idea Book ShopsPremium Super MarketsBundu Shop - Southern Sun Oysterbay Shopping CenterNakiete Pharmacy - MwengeHome Shopping Center Renowned Hotels & OfficesTanzania Investment Center (TIC) All Major Real Estate Agents

Arusha 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 HotelSmart Choice SupermarketsShoprite Supermarket

PublisherDarproperty Tanzania

Editor In ChiefLarson Chumi

[email protected]

Business Development & ProductsAbdallah Mugasa

Designs & LayoutsAlan Peter

Dennis [email protected]

Marketing & SalesMichael Francis

[email protected]

DistributionBoniface Metta

Online Content ManagerMbwana Mbura

Key Accounts ManagerBrenda Ndashuka

Finance & Administration ManagerErick Kessy

Accounts ExecutivesGrey Mateni

Faraji Senkoro

Office Assistant.Brigita Laurance

Regulatory & Legal AdvisorsABC Attorneys

Mikocheni B - Bima road,P.O. Box 105499 Dar es Salaam

+255 22 2780 517+255 784 238 962,+255 713 751 868

[email protected]

DistributionShould you have problems in obtaining copies of DarProperty

Magazine, please contact+255 713 888 036+255 717 270 791

For Comments, Complains & [email protected]

Country Director - KenyaXavier Nanchengwa

ZanzibarChavda HotelDhow PalaceBeyt al Chai HotelZanzibar Coffee HouseMtoni Marine HotelZanzibar CaféStone Town CaféDiplomatic SupermarketTembo House HotelMaru Maru HotelZanzibar Serena Hotel

NairobiSarova Stanley HotelNairobi Serena HotelSarit CentreThika Road MallOil LibyaJava Lounge CafesVillage MarketJunction MallKempinski HotelHilton HotelMega MallReal estate agent OfficesRenowned Restaurants

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

AVAILABLE FROM:

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.

Disclaimer

COMINGSOON


COMINGSOON

6 | The Darproperty - Nov 2014

For rent | $1,000 / month

For rent | $2000 / month For rent | Price on request

For rent | $600

4 Bedroom House - Tengeru

3 Bedroom Fully Furnished House -Njiro Gorofa Mbili

3 bedroom House - Tengeru / ArushaFully Furnished

2 Bedroom House, Kwa Mrefu

For sale | $185000 / month For sale | $101,000 - 450,000

3 Bedroom House - Near Njiro Complex 2 - 5 Bedroom Apartment - Njiro PPF 3 bedroom House

3 Bedroom Fully Furnished House - Njiro 3 Bedroom House - Njiro

For more properties visit:www.arushahomes.com

Shati House, behind Exim Bank - Clock TowerPlot No. 58, Block E

Sokoine road, Arusha+255 754 337 899+255 786 337 899

[email protected]

For rent | 800 / month

For rent | $650 / month

For sale | Price on request


QUALITY & LONG LASTING ELECTRIC FENCE

QUALITY & LONG LASTING QUALITY & LONG LASTING QUALITY & LONG LASTING QUALITY & LONG LASTING QUALITY & LONG LASTING ELECTRIC FENCE


QUALITY & LONG LASTING QUALITY & LONG LASTING ELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCE








QUALITY & LONG LASTING ELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCEELECTRIC FENCE

QUALITY & LONG LASTING QUALITY & LONG LASTING QUALITY & LONG LASTING

Up to 5 yrs warrant

GSM Intergrated

CCTVAutomatic Gates

Behind Shamo Park House+255 658 300 969

[email protected]

silver standard

gold standard


”Tanzanias leading land & property agent”

Dar es Salaam

Tanga / Pangani / Zanzibar

Contacts

Arusha

Property img

FOR SALEMbezi Beach – beach front

USD 1,495,000

Property img

Dar es Salaam Arusha Tanga / Pangani

Annabel Burdes

Representative Tanga / PanganiTel. +255 784 632 529

[email protected]

Anders Wehtje Raphael Nondi

FounderTel. +255 785 984 467

[email protected]

Manager Dar es SalaamTel. +255 717 032 633

[email protected]

FOR RENTNjiro – 2 houses – 6 b/r

USD 600 / month

FOR SALESange – 6 acres

USD 125,000

Property img

Property img Property img Property img

FOR RENTUpanga – ocean front

From USD 1,600 / month

FOR RENTOyster Bay – 3 b/rUSD 3,200 / month

FOR RENTBahari Beach – 3 b/r

USD 500 / month


FOR RENTNjiro – great views – 3 b/r

USD 800 / month

FOR SALENjiro – 3 b/rUSD 70,000


FOR SALEPangani – Ushongo

USD 175,000

FOR SALESadaani - lodge

USD 495,000

FOR SALE or RENTPangani – lodge

Price to be discussed

www.tzagents.com

FOR SALESakina – 2 b/r

USD 95,000 negotiable


Property of the month!Mbezi Beach - USD 625,000

This property is found in Mbezi Beach. The compound measures 4,430 sqm with 2 houses on the grounds. The main house consists of a two-storey building with 4

bedrooms, a spacious dining- / livingroom, kitchen with store, laundry room, studio and 2 additional bathrooms. The house also has a balcony and verandah that provides sea view and a pleasant breeze. Outdoor facilities include spacious swimmingpool with 2 pumps and separate pump house. The smaller house contains 3 bedrooms (1 master), livingroom, diningroom, kitchen and one additional WC with shower. Reliable water supply from 2 different wells with 35,000 litres storage. Power by Tanesco with 27 kVA back-up generator. Staff quarters with 1 bedroom, livingroom, kitchen, shower and WC. The whole property has a high standard finishing and was designed and built by

Europeans. Mature garden with trees and flowers. The property is well fenced. Clean title deed. This is high quality from whatever aspect you look at it!

PHOTO PHOTO

PHOTOPHOTO


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.

+255 (0) 689 578 785 [email protected]

For rental enquiries please contact

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.

+255 (0) 689 578 785 [email protected]

For rental enquiries please contact

Coming Soon in Dar


NAIROBI+254 728 99 25 31 +254 720 35 34 37

TANZANIA+255 784 23 89 62+255 688 75 18 68

BOOK YOUR SPACE NOW:

inNAIROBI


CONTACT US:+255 22 2181918. +255 22 2181941, +255 784 440272, [email protected]

Plot No. 84/36G Rashid Kawawa Road Opp. Biafra Play Ground Kinondoni

FEATURES: OfficesFully furnishedSwimming 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

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.

real estate ltdsamsa

“Where customer needs are fulfilled”

NAIROBI+254 728 99 25 31 +254 720 35 34 37

TANZANIA+255 784 23 89 62+255 688 75 18 68

BOOK YOUR SPACE NOW:

inNAIROBI




CONTACT: [email protected] [email protected] ��

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

*Ocean Wave Apartments

LOCATION: Old Bagamoyo Road, Plot 389/1, 389/2 (opposite JKT)Plot 77B/2 (near Msasani Beach Club)


Testing building materials and structures including quality control in the laboratory and siteinvestigations

AND MANY MORE....

LOCATION TO OUR OFFICE


Testing building materials and structures including quality control in the laboratory and siteinvestigations

AND MANY MORE....

LOCATION TO OUR OFFICE


Hotels | Supermarket | Offices | Stores | Warehouse |Building | Apartment | Homes |

+255 762 48 48 78 | 784 50 95 31

Cleaning Services, Landscaping,High-rise Window Cleaning, Fumigation,General Building Maintenance, Fire Safety & Protection Equipment,

Sanitary & Hygine Consumables.



OTHER PROPERTIES FOR RENT IN MASAKI

SEA PRINCESS APARTMENTS DAYS INN APARTMENTS

SAPPHIRE HEIGHTSNOWRENTING

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: [email protected]

24 | The Darproperty - Nov 201424 | The Darproperty - Nov 2014


www.dayliff.com

22 2112515/6 • 22 2184867

27 2547317/8 • 24 2234660/1 • 28 2541971/2

DAR ES SALAAM: KARIAKOO:

ARUSHA: ZANZIBAR: MWANZA:

REAL ESTATEThe ABCs of REAL ESTATE MARKETSTABLE MORTGAGE a mortgage loan instrument that combines fi xed and adjustable rates in the same loan. The rate applied to the loan is a blend of fi xed 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 fi xed and adjustable rates. If the loan is original at an interest rate of 6% and the index justifi es 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 fi rst time. They are either setting up a household for the fi rst 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 fi rst –timer. EXAMPLE: some countries offer programs to provide low mortgage interest rates to qualifi ed fi rst-time homebuyers. Besides being a fi rst 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)

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 signifi cantly 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 fi rst 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%.


In 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 fi nance 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

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 one-time, 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.

Rent-To-Own Homes.How The Process Works


Many buyers prefer to “lock in” the purchase price if possible, especially in markets where home prices may be increasing.Rent. During the term of the lease, the potential buyer pays the seller a specifi ed amount of rent, usually each month. The lease term is negotiable, but frequently ranges between one and three years. In many contracts, a percentage of each monthly rent payment is applied to the purchase price. For example, assume the contract states that the buyer will pay $1,200 each month for rent, and that 25% of that will be credited to the purchase. If the lease term is three years, the buyer will earn a $10,800 rent credit to apply toward the purchase ($1,200 x 0.25 = $300; $300 x 36 months = $10,800). Often, the rent charged by the seller will be slightly higher than the “going rate” for the area to accommodate the rent credit the buyer receives.Maintenance. Depending on the terms of the contract, the potential buyer may be responsible for maintaining the property and paying for any repairs, municipal and other

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 specifi ed in the contract. Maintaining the property – mowing the lawn, raking the leaves and cleaning out the gutters – is very different from replacing a damaged roof.Purchasing the property. If the potential buyer decides not to purchase the property (or is unable to secure fi nancing) at the end of the lease term, the option expires. The buyer forfeits any money paid until that point, including the option money and any rent credit earned. If the buyer cannot purchase the property but has a legal obligation to (as stated in the contract), legal proceedings may be initiated.If the buyer wants to purchase the property, he or she typically applies for fi nancing (i.e., a mortgage) and pays the seller in full. According to the terms of the contract, a certain percentage of the option money and rent paid may be deducted from the purchase price. The transaction is completed at the closing, and the buyer becomes a homeowner.Ideal Candidates for Rent to OwnA rent-to-own agreement can be an excellent option for people who want – but are not fi nancially ready – to become homeowners. A

rent-to-own agreement gives them the chance to get their fi nances 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 confi dent 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 fi nancing 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 LineA rent-to-own agreement allows potential buyers to move into a house (maybe even their dream home) while getting their fi nances 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

Real Estate Investment


+255 756 012 987 | [email protected]

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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

We hope this helps.

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?

and the registration of the transfer by the registrar of titles was similarly void. Hence a person cannot be entitled to their own fraud.

Q: I have a Real Estate Management company that was registered in 2010 and I want to make changes to the memorandum and articles of the company. How do I go about it? Is there some sort of a procedure to follow? Thank you PM

Hello PM, well The Companies Act, CAP 212 [RE 2002] provides for modes in which and the extent to which memorandum and articles of association may be altered. However the alteration of the provision of memorandum must be with respect to the objects of the company by passing special resolution. The procedures for alteration of memorandum of the Association of the company are provided for under Section 8 of The Companies Act, CAP 212 [RE 2002] cited above, that: (1) Alteration

Well we are very sorry about your situation sir and the stress you have been going through. Well the Land Act cap 113 [RE 2002] under

occupancy need to be signed and sealed by the commissioner. It goes further to say that the

is issued have to sign at the bottom of the

can be used as proof, the documents purporting to transfer ownership of a right of occupancy must be registered otherwise those document are invalid and ineffectual. Also from the facts 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 can enter judgment in their favor to which will not happen. In the case of Othman Kawila Matata .v.Grace Titus Matata TLR [1981] 23 the defendant caused the deceased person who was proved by the medical consultant to be of not the right mind and could not make rational judgment to execute deed of transfer in her favor. The transfer was approved by the registrar of title. In court, the judge was of the view that deed of transfer was acquired by fraud for the reason of state of mind of the deceased person the transfer was void, the

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,

to the registrar of the companies for registration. See section 8(2) and 8(9)(a) of the Companies Act, Cap 212.

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 taken to the Registrar of the companies for registration. The procedures for altering 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:[email protected]/[email protected] mail it to :ABC ATTORNEYS.IT PLAZA, 8th FLOOR, OHIO STREETP.O.BOX 105722, DAR-ES-SALAAMTANZANIA (EA)Tel: +255222110236/0713055195/0786624901For more information, you can also read other articles online atwww.abcattorneys.co.tz

Ask the Expert Real Estate Laws


chokoleinvestmentl i m i t e d

T h e U l t i m at e O u t d o o r S o l u t i o n s

Mikocheni, Garden Road, Dar es Salaam, Tanzania.+255 786 924373, +255 658 924 373

Worry Free - Money BackGUAR ANTEE

P R O F E S S I O N A L

Designers & Installers of:

Car Shades, Gazebo

Electrical Gates

& Umbrellas


Mikocheni, Garden Road, Dar es Salaam, Tanzania.Mikocheni, Garden Road, Dar es Salaam, Tanzania.


P R O F E S S I O N A L P R O F E S S I O N A L

Designers & Installers of: Designers & Installers of:

Car Shades, Gazebo Car Shades, Gazebo Car Shades, Gazebo

Electrical Gates Electrical Gates Electrical Gates Electrical Gates

& Umbrellas & Umbrellas & Umbrellas & Umbrellas & Umbrellas & Umbrellas & Umbrellas


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Mikocheni, Garden Road, Dar es Salaam, Tanzania.+255 786 924373, +255 658 924 373

Worry Free - Money BackGUAR ANTEE

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Designers & Installers of:

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Electrical Gates

& Umbrellas

CLASSIFIEDSkigamboni

4 rooms, 4 bathrooms, 2500sqm40 Metres from the main tarmac road,

+255 713 467 660

RENT tshs 900,000/=3,500/= Residential per meter square

4,000/= Commercial / Residential0755 989 335 / 0755 044 766 /

0767565562

3,500/= Residential per meter square4,000/= Commercial / Residential

0755 989 335 / 0755 044 766 / 0767565562

5,500/= Residential per meter square6,000/= Commercial / Residential

0755 989 335 / 0755 044 766 / 0767565562

Plot for sale at Bunju - few metersoff Bagamoyo road

0754 780 6500789 331 255

1 one acre, Ideal for petrol station0715/0784 281851

mlimani c

ity

100metres from (UDSM) Road,masterbedroom, 2 rooms self contained,

servant quarter with its toilet and bathroom,+255-713-690 220

rent $15003 bedroom detached house

Minutes from Nakumatt Shopping Mall0783 063005

ubungo

3 Acres - Ubungo Msewe0718 568 482/ 0758 325 491

SALE 700m

mbagala

Over 14 plots available atMbagala Charambe

0653 422 222 / 0773 267 268

joint venture

kibaha visiga

Visiga - Kibaha Has Title Deed No.7828012,200/= SQM

0756 359529/0754 3665310754 013550/ 0767 010854

Visiga - Kibaha Has Title Deed No.783108,907= SQM

0756 359529/0754 3665310754 013550/ 0767 010854

Plots for sale at Kigamboni,mwasonga-kichangani, 25km from ferry.

(price are negotiable.0717 992 455/ 0787 992 455/ 0767 992 455

SALE

victoria

2 - 3 Bedroom house, 2 Bathrooms,fully furnished, DSTV

0715 053 803

RENT $1600

kibaha visiga

SALE

kigamboni

SALE 12,000/=Tsh/m2

ubungo kibangu

3 Bedroom, 2 Bathroomsbehind Mzee wa Upako Church

0657 376496

SALE 150,000

gezaulo

le

636SQMGezaulole Temeke Municipality,

0715913814 / 0784913814

SALE 15m

3.05 Acre,Title deed no.78280

0767 010 854 / 0684 010 854

11/4 Acre 1 km from Morogoro rd.

0718 568 482 / 0758 325491

goba- dsm

Four bedrooms, next to St . Joseph millennium secondary school

0767264900

RENT $2,200

LIST YOUR PROPERTY HERE FOR ONLYTSHS 30,000/= VAT EXCL.simply call 0767 200 202

[email protected]

kibaha kongowe

SALE 100m

kisarawe

rent $800

arusha sakina

ubungo kibangu

kigamboni

sale sale sale

kibaha - visiga

kongowe

sale 50m

kibaha visiga

sale 122m

Kunduchi Beach Villas

+255 762 545 866 +255 684 425 142

KUNDUCHI VILLAS

NEWLY BUILT. MOVE IN READY! PREMIUM LOCATION VILLAS

FOR SALE!

price on request

bunju

34 | The Darproperty - Nov 201434 The DarProperty August 2014





NAME OFLOCATION RENTAL PRICE (USD) SALE PRICE (USD) P/R COMMENTMuthaiga 3435 1132260 27 Much better to rent than buyKaren 2501 638202 21 Much better to rent than buyWestlands 2848 599054 17 Typically better to rent than buyParklands 1386 534831 32 Much better to rent than buyKileleshwa 2434 404494 13 Much better to buy than rentUpperhill 2331 365169 13 Much better to buy than rentKasarani 810 192921 19 Typically better to rent than buyLangata 2223 372006 13 Much better to buy than rentGigiri 3083 835955 22 Much better to rent than buy

PRICE TO RENT RATIO AS ADVERTISED FOR A 4 (FOUR) BEDROOM PROPERTYIN SELECTED AREAS IN NAIROBI (2014)

NAME OFLOCATION RENTAL PRICE (USD) SALE PRICE (USD) P/R COMMENTMasaki 5806 162095 2 Much better to buy than rentOysterbay 5043 205190 3 Much better to buy than rentAda Estate 4500 107100 2 Much better to buy than rentMsasani 3200 99790 3 Much better to buy than rentUpanga 2434 147900 4 Much better to buy than rentMikocheni 1942 71400 3 Much better to buy than rentKawe 2470 49300 2 Much better to buy than rentMbezi Beach 1806 19380 1 Much better to buy than rentKijitonyama 577 40800 6 Much better to buy than rent

PRICE TO RENT RATIO AS ADVERTISED FOR A 4 (FOUR) BEDROOM PROPERTY IN SELECTED AREAS IN DSM (2014)

BENCHMARKOn average, in most major western countries cities, the P/R ratio fluctuates between 15 and 25. NoteWhen 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 compa-rable 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

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 1 to 15 = much better to buy than rent

• Price-to-rent ratio of 16 to 20 = typically better the rent than buy

• 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.

Data gathered by: Yusuph Mhando.

IN KENYA: Better to rent than buy.IN TANZANIA: Better to buy than rent.

COMPARING THE REAL ESTATE MARKET


NAME OFLOCATION RENTAL PRICE (USD) SALE PRICE (USD) P/R COMMENTMuthaiga 3435 1132260 27 Much better to rent than buyKaren 2501 638202 21 Much better to rent than buyWestlands 2848 599054 17 Typically better to rent than buyParklands 1386 534831 32 Much better to rent than buyKileleshwa 2434 404494 13 Much better to buy than rentUpperhill 2331 365169 13 Much better to buy than rentKasarani 810 192921 19 Typically better to rent than buyLangata 2223 372006 13 Much better to buy than rentGigiri 3083 835955 22 Much better to rent than buy

PRICE TO RENT RATIO AS ADVERTISED FOR A 4 (FOUR) BEDROOM PROPERTYIN SELECTED AREAS IN NAIROBI (2014)

NAME OFLOCATION RENTAL PRICE (USD) SALE PRICE (USD) P/R COMMENTMasaki 5806 162095 2 Much better to buy than rentOysterbay 5043 205190 3 Much better to buy than rentAda Estate 4500 107100 2 Much better to buy than rentMsasani 3200 99790 3 Much better to buy than rentUpanga 2434 147900 4 Much better to buy than rentMikocheni 1942 71400 3 Much better to buy than rentKawe 2470 49300 2 Much better to buy than rentMbezi Beach 1806 19380 1 Much better to buy than rentKijitonyama 577 40800 6 Much better to buy than rent

PRICE TO RENT RATIO AS ADVERTISED FOR A 4 (FOUR) BEDROOM PROPERTY IN SELECTED AREAS IN DSM (2014)

BENCHMARKOn average, in most major western countries cities, the P/R ratio fluctuates between 15 and 25. NoteWhen 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 compa-rable 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

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 1 to 15 = much better to buy than rent

• Price-to-rent ratio of 16 to 20 = typically better the rent than buy

• 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.

Data gathered by: Yusuph Mhando.

IN KENYA: Better to rent than buy.IN TANZANIA: Better to buy than rent.

COMPARING THE REAL ESTATE MARKET



42 | The Darproperty - Nov 201442 The DarProperty August 2014

MY BEACHOld Bagamoyo Rd. opp Yuasa auto impexP.O BOX 105200. Dar es SalaamTel; +255 22 2701710

NIKUZE REAL ESTATE AGENCYMorogoro RoadP.O Box 10032 Dar Es SalaamTel: +255 789/754/715/ 363 800Email: [email protected]

PHOTO & CO.ESTATEKahama Road/Msasani peninsulaP.O BOX 105121 Dar es Salaam.0786 962 444Email; [email protected].

PROPERTY CONSULTANCY & SERVICES LTD2nd Floor Kevin House - Samora AvenueP.O BOX.7152 - Dar Es Salaam+255 22 2120402, +255 713 690 [email protected]

PRESTIGE PROPERTIESPhone: +255-713-764-447/ 0767471293Tel:+255-22-266-4373Email:[email protected]

Tanganyika Estate AgentsVillage Walk, close to Sea Cliff Hotel+255 717 032 [email protected]

TRELD COMPANY LTDP.O BOX 7656 Dar es SalaamLocation Msasani Peninsular off toure drive+255 732 222 888, +255 716 777 [email protected]

ARUSHA AWESOME HOMES AND PROPERTIES. Shanti House,Plot 58 Block E Sokoine RoadP. O. Box 249 Arusha, [email protected]+255 754 337 899 / +255 786 337 899

HOMES & PROPERTY AGENCIES LTDLand Surveyors & Property ManagersP. O.Box 10079 ArushaBoma Rd. Arusha0787 [email protected]

TANGANYIKA ESTATE AGENTSShoprite Complex,+255 785 984 467 [email protected]

ZIPO HOMESRivergardens Business Park, Rm 4P.O Box 20 Usa River, Arusha+255 787 474 580/+ 255 754 320 [email protected]

MWANZAESTATEMwanzaestate.com+255 714 245 [email protected]

Zanzibar - properties.comTel: +255 774 44 19 07Hotel Marine - Malindi Zanzibar

ABLA ESTATE DEVELOPERS & AGENCY CO.LTDMikocheni Opposite Shoppers PlazaP.O BOX 3810, Dar es SalaamTel +255 22 2772506E-mail: [email protected]

+255 755 181 222 www.bryanstonproperties.co.tz [email protected]

GIMCO ESTATE AGENCY LTDSamora Ave, NIC Investment Hse,P.O BOX 8382 Dar es salaam Tel +255 22 2120988Mob +255-784 900041

GOLDBERG COMPANY LTDReal Estate & Mining TradeP.O. Box 22159 Dar es SalaamOld Bagamoyo Rd, Mikocheni B,0715 270 517 / 0754 270 [email protected]. goldbergtz.com

HAMPTONS PROPERTIES TZHaidery plaza - 1st fl oorupanga/kisutu streetP.O.BOX 6547 [email protected],[email protected] 204083/ 0784 323133

NEW DAY PROPERTY AGENCY COMPANYMwinyijuma Road - Kinondoni,Room no.84, UVCC Complex+255 753 645 434, +255 717 035 552+255 767 575 758www.facebook.com/ raymond samson Laizer

KEY REAL ESTATE SOLUTIONSRegent Chwaku North UrsinoTel: +255 22 27016740715 053 803, 0786 053 803,0754 28 46 84mariam@keyrealestatesolutionstz.comwww.keyrealestatesolutionstz.com

Real Estate AgentsDirectory in Tanzania

DAR ES SALAAM ARUSHA

MWANZA

ZANZIBAR

ENHANCE YOUR VISIBILTY & CREDIBILITYGET LISTED HERE WITH YOUR LOGO

Tshs. 48,500/= Monthly / Tshs. 500,000/= Annually+255 784 23 89 62, 0688 75 18 68 | [email protected]

+255 756 960 960, +255 714 444 250, +255 752 444 606.

ARUSHA +255 653 005 530, MWANZA +255 653 005 535,

[email protected] TZREALESTATE.CO.TZ


ARUSHA

16.81

24.64 9.413.4422.32

13.75

25.55

26.97

19.28

25.06

20.13

29.83 20.20

29.26

7.77

9.39

16.6626.96

15.3716.81

29.97 17.11

16.27

30.0610.42

36.96

10.32

5.44

24.42

25.84

5.97

7.33

7.38 5.66

7.50

7.40

20.1

0

7.01

12.58 2.56 20.97

8.68 10.67 17.37 16.51 16.83 18.41 19.75 12.23 7.76

17.73

12.79

22.12

21.44

19.25

4.45

22.82

21.71

22.99

23.86

23.83

23.56

22.94

21.83

16.88 18.8719.07

21.82

24.44

25.1529.0232.71

21.93

10.66

16.94

45.4841.0

4

5.93

20.99

12.55

34.5

927.4

6

6.66

12.43

11.1518.76

20.83

20.83

20.13

18.51

22.54

21.21

19.72

16.02

30.94

31.95

21.95

28.7

7

3.89

18.61

29.18

26.19

18.16

5.01

26.58

7.0511.62

31.24

20.83

31.24

20.83

31.24

20.83

31.88

18.57

18.137.67

20.64

24.83

10.93

12.11

18.58

4.90

7.76

A=482sqm

A=467sqm

A=501sqm

A=1050sqm

A=419sqm

A=492sqm

A=410sqm

A=539sqm

A=340sqm

A=353sqm

A=449sqm

A=260

sqm

A=406

sqm

A=42

3sqm

A=42

3sqm

A=48

2sqm

A=62

9sqm

A=81

1sqm

A=61

9sqm A=

505s

qm

A=42

4sqm

A=395

sqm

A=467

sqm

A=1016sqm

A=813

sqm

A=53

0sqm

A=663sqm

A=498sqmA=594sqm

A=625sqm

A=625sqm

A=549sqm

A=491sqm

A=546sqm

A=626sqm

A=832sqm

A=653sqm

A=608sqm

18.41 12.87

A=593sqm

PC2

PC3

PC1PC7

PC8

PC4

PC5

PC6

PC10

PC9

PC11

PC12

T1

T2 T6

T5

T4T3

T12

T11

K9

T13T14

K10

PC15

T16

K11

T7

T8K7

T10T9

T20

T19

T18T17

K16

T21T22

T23

T24

K1

K2

K3

K4

K5

K6

K8

K12 K13 K14

K15

TP1TP2

TP3

TP4

TP5

TP6

TP16

TP15

TP14

TP13

TP12

TP9

TP8

TP7

TP10

TP11

TP18 TP19 TP20 TP21TP22

TP23

TP24

TP25

TP26

TP27

TP28

TP29

TP30 TP31

TP32TP33

TP34TP35

TP36

TP37

TP38

TP39

TP40

TP41TP42

TP51

TP43 TP50

TP49

TP44

TP45

TP48

TP47

TP46

TP17

SURVEY OF PLOTS No............................BLOCK '..............' NAME KINONDONI DISTRICT-DAR ES SALAAM CITY.

1

2

43

5 6

7 8 9 10 11 12 13

17 16 1514

2120

1918

24 23 22

25

Existing GobaMpakaniSecondary school

20

10

MADALE ROAD

TEGETA 'A' ROAD

SOLD

SOLD

SOLD

SOLD

SOLD

SOLDSOLD

SOLD

SOLD

SOLD

0715 76 00 87 | 0784 760 076

25,000/=per m2

GOBA

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 highdensity 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,


AFRICAN VILLAGE ESTATE............................17

ARUSHA AWESOME HOMES...................6

AXIS REAL ESTATE KENYA.............1,34,35

BOA BANK TANZANIA...............................1

BRAYNSTONE PROPERTIES..............................24

CG CONSULT.....................................................7

CHOKOLE............................................................30

CITY PLAN....................................................10&41

CREATIVES CITY HOMES .................................39

DAVIS & SHIRTLIF..............................................25

DIPLOMAT.............................................................7

EXIM BANK TANZANIA..............................1

GALAXY ESTATE MANAGEMENT............... 33

GOLDBERG....................................................20

JAMII FORUMS............................................38

KAFKAS GROUP..........................................3&44

LIFEMATE..............................................................23

LONGONOTE GATE.........................................21

MASUMIN..........................................................26

MAWENI ECO VILLAGE..................................10

NEVADA GOLDEN COINS...1,5,11,21,,32

NHBRA..................................................................18

SAMSA..................................................................13

SPIK N SPAN........................................................41

STANBIC BANK.....................................................2

TANGANYIKA ESTATE AGENTS......................8,9

TBS...............................................................16

TEREX...................................................................25

VISION FURNITURE.............................................29

WASHAPAWA...................................................20

PATRON PAGE NO

PATRONS

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Documents

Darproperty nov 2014 issue