One will surely ask; when is the best time to invest in Ugandan real estate? There is certainly no other time than now. It is all boom! It is virgin land and positively promising.
When you look into Ugandan real estate, you will find the property market quite to your liking. The market is desirably growing and gives a potential opportunity for a great investment in Ugandan business.
The boom in real estate is attributed to many factors at present but the consumer confidence is at its all time highest. As a result, financial institutions have developed packages to meet the upsurge in the market through financing.
Different loans/mortgage schemes and packages have now been introduced by the financial institutions and these are offered at different rates. For many, this is an all new experience and the information that comes through is at times so overwhelming.
It is therefore important to do your research. The Ugandan real estate will definitely be exciting but remember, there will also always be predatory lenders that give mortgages that are unsustainable, who will take advantage of such a vibrant market.
Understanding the differences in mortgages will enable you to choose the right mortgage - Be an educated consumer!
If you decide to buy in Uganda so you can rent out your property, the laws are very friendly and the prices are determined by the market. Almost 90% of all residential properties in Uganda are rentals. So it's an excellent investment opportunity.
Take for example the cost of Ugandan real estate say in the capital, Kampala; it is the Ugandans' favourite place and dream to own property especially the places around and not far from the centre.
And because of its popularity, it is the most expensive to find property. But although this is the case, it's still the safest bet to invest because the returns are certainly much higher.
The tradition is: because the cost of a house is way too high to what many can afford ( ...and this is before one considers the option of mortgage/loan), majority will look at buying a piece of land first and then weigh up the costs of constructing their dream home which they do at their own pace.
For many, even as construction goes on, once the house is habitable, they will very quickly move in and do the final touches while they live in their own home. The point is - one runs from the many years of paying rent to living in their own home which gives them a calm piece of mind amidst all the other bills.
Finding land is easy, there is so much to choose from - depending on the size and location you are looking for.
The smallest standard size is usually 50 feet by 100 feet (50ftx100ft) - at least with the real estate agents. This will cost you in the region of 2.5 million Ug shs to 30 million Ug shs and more depending on how popular the location is. Certainly the lake frontage would cost you more. (Roughly the exchange rate would look at between US $ 1000 to US $ 12000 and more for that piece)
Considering it would be a well thought through investment, like any other business investment, you will need to do further thorough research on the size, location and best price before you make that move and certainly there will be other factors you will want to consider before you buy land.
The beauty is - the Ugandan real estate is now better organised. Real estate agents have now got properly planned estates with road, electricity and water access. All the other facilities and services have been well considered as well; security, supermarkets, pharmacies, restaurants, health clubs, swimming pools, nursery schools and children play areas. And most of these locations are magnificent.
Finished homes are on the market too - looking at a nice single family home? Ugandan real estate has all the sizes you would probably think of.
A family home would cost in the range of US $ 70,000 to US $ 300,000 and more - You are looking at a two-storey, 2 bedroom town house with contemporary design and high quality interior and exterior finishes, with fitted kitchen, balcony, parking area and a garden, to the top end double storey 4 bedroom homes with eye-catching designs, fitted kitchen with a breakfast nook, study, parking space and garden.
New modern shopping center
It all really depends on what purpose you have for you purchase. Be sure to do some research to ensure the Ugandan real estate you find is right for you.
Or are you looking for something that is up to let? Homes(all sizes), warehouses, office space, factory space, grounds, name it! You will have the perfect options for the space you want to rent.
There is property in the other cities and towns as well - the choice is yours, which ever town is your target. Bottom line is; with good research, you will love your purchase.
Real estate in Uganda might be best purchased through a real estate agent. They are self-regulated and will get you a better deal with no extra hidden costs. Of course they have the ultimate purpose of selling you some property, so you must keep your goals in mind and not vary from exactly what you are looking for.
Obviously, the Ugandan real estate market changes just like any real estate market in the world. It's affected by interest rates, the market demand and the credit crunch. Keep your finger on the pulse and you will find the property you want, and in the area you want.
No matter your desire, from a single-family home in the city or a small residence in the country, from a commercial property to a parcel of land to build on later, you'll find it in Uganda. Let your fantasies lead you. Ever imagined your home overlooking a lake?
Ugandan real estate offers much to someone relocating, or for the investor looking for a deal. It's a wonderful country to live and work in, and you'll be pleased by your purchase.
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