Many Ugandans in the diaspora (Diasporans) can testify that buying property back home can be very stressful and challenging. Thousands have been fleeced by their own. Willy Mutenza, Chairman Uganda Convention-UK, concurs that the process of acquiring property in Uganda is fraught with risks. Many people have lost their hard earned money to unscrupulous friends, relatives, developers and...
Mr Marc du Toit is the head of retail, Knight Frank Uganda By Marc du Toit Recent trends in the East African property retail sector have seen the introduction of turnover rentals, and this has created consternation among smaller retailers, particularly in Kampala. Some retailers are averse to adopting Turnover rentals either for fear of disclosing their turnover figures to the...
George Asiimwe About 500 Ugandans own wealth of at least $500,000 (Shs1.8b) and above, a new report shows. According to the Wealth 2020 report released on March 3 by real estate agent Knight Frank, most of the rich Ugandans have made their wealth in buying shares of companies as well as real estate. The report adds that more wealth people are investing in schools, hospitals...
Kampala, Uganda | A report by estate agent Knight Frank indicates that 494 Ugandans each own wealth worth at least $500,000 (1.8bn Uganda shillings). The index shows the minimum threshold. This means that of the 494 individuals, there are those that own wealth in the excess of USD1m (Shs 3.7bn). The 2020 report presented at Sheraton hotel on Thursday evening before a select club of Kampala’s...
By Rogers Matovu | Monitor Over time, Economics has dictated that during times of crisis, general prices of goods and services will respond either with an increase or a decrease in the price of any item. However, there exists a trend that prices of real estate especially land and houses do not respond the same way. The stress that the global shutdown inflicts on the property industry will reveal a lot...
By Carolyne B. Atangaza | Monitor The real estate market is getting a digital makeover and for the past several weeks, the term proptech has become a buzz word. The acronym is the collective term used to describe the wave of technology innovations that have already started to disrupt real estate markets. It refers to the implementation of technology in real estate to streamline processes,...
By Carolyne B. Atangaza | By Monitor There are many questions arising from the coronavirus pandemic. Is it preventable? How fast is it spreading? How dangerous is it? Will a treatment or even a cure be found in time? But what most real estate stakeholders want to know is how long it will last and what impact it will leave on the sector. So far this has proven to be a hard year for the...
By Rogers Matovu Covid-19 or as many expressly call it coronavirus, has proven beyond doubt that it is a global pandemic that World Health Organisation (WHO) declared a few months ago. It is something that everyone is talking about globally. It has painted fear and panic among all people everywhere. With many questions like is it preventable? How fast is it spreading? How dangerous is it?...
Here is something to consider the next time you drive by a new residential development in Kololo and wished you were living there; your chances are better than you think. Property developers in Kampala’s prime residential areas, especially those with newer apartments, were forced to lower rents last year to stay competitive as supply overran demand, according to a new report by Knight Frank. The...
By Carolyne B. Atangaza | Monitor After President Museveni extended the national lockdown by three more weeks, speculation and uncertainty have grown. Most people are worried there might be another extension with more Covid-19 cases being confirmed. Just like others, the real estate sector has been badly affected by the pandemic and is struggling to keep afloat. According to Shirely...