Interested
Quite the Islamist.
Investment by the country’s sizeable diaspora has been flowing back pushing prices even higher. They prefer to buy land and build apartments.
A land broker in Xamar “Every month we break ground on at least seven properties. In 2019, we used to do one, if we were very lucky may be two properties. For most of our clients, it is purely for investment purpose. There is confidence in the market at the moment,” Bile, 42,
With the prices going sky-high, many are choosing to either move to the outskirts of the city or even to nearby towns, coming to Mogadishu in the morning and heading home at night.
Anas Jeylani used to live in Mogadishu but says the city has become unaffordable for him and his family. He moved to Afgoye, a town 30km (18.5 miles) away from the city.
“I work as a labourer on building sites. I used to earn $14 a day but now I take home $16. I can’t afford to pay rent, education and food for my family if I was to live in Mogadishu,” the husband of two wives and father-of-five told Al Jazeera. “Only the rich can afford to live in this city. Everyone else is either struggling or has moved somewhere else.”
For Mumtaz, the solution is for less people to move to the city.
“Every Somali wants to live in Mogadishu. Until that changes, I don’t see anything changing. Prices will keep going up,” she said.
Here is a long article about it:
A land broker in Xamar “Every month we break ground on at least seven properties. In 2019, we used to do one, if we were very lucky may be two properties. For most of our clients, it is purely for investment purpose. There is confidence in the market at the moment,” Bile, 42,
With the prices going sky-high, many are choosing to either move to the outskirts of the city or even to nearby towns, coming to Mogadishu in the morning and heading home at night.
Anas Jeylani used to live in Mogadishu but says the city has become unaffordable for him and his family. He moved to Afgoye, a town 30km (18.5 miles) away from the city.
“I work as a labourer on building sites. I used to earn $14 a day but now I take home $16. I can’t afford to pay rent, education and food for my family if I was to live in Mogadishu,” the husband of two wives and father-of-five told Al Jazeera. “Only the rich can afford to live in this city. Everyone else is either struggling or has moved somewhere else.”
For Mumtaz, the solution is for less people to move to the city.
“Every Somali wants to live in Mogadishu. Until that changes, I don’t see anything changing. Prices will keep going up,” she said.
Here is a long article about it:
Somali real estate boom gives Mogadishu residents money headaches
The Somali capital is enjoying relative calm, and residents say new sky-high apartments also come with sky-high prices.
www.aljazeera.com