Is real estate affordable in Somalia?

[SOMALI GENERAL]

Im planning on purchasing land in the South sometime in the future when the situation becomes more stable and peaceful. So how are land prices there currently? Plus are there any laws that protect land rights and private ownership etc?

 

[Inactive]

Plus are there any laws that protect land rights and private ownership etc?

So how are land prices there currently?

Depends where of course but I've heard prices have gone down recently in Mogadishu

 

[SOMALI GENERAL]

Depends where of course but I've heard prices have gone down recently in Mogadishu

Hmm, but i've heard some really good real estate is being bought by foreigners there?

 

[Inactive]

@Mike Hunt lives in Somalia. I'm sure he can add some useful information for all of us on this subject

 

[Canuck]

Im planning on purchasing land in the South sometime in the future when the situation becomes more stable and peaceful. So how are land prices there currently? Plus are there any laws that protect land rights and private ownership etc?

Mogadishu the prices of houses in safe neighbourhood had reached to 1/2 million dollars. I don't know anything about kismayo, but PL is good for investment (they respect law and very civil) make sure the land close to beach. The prices will increase more in future. In SL @Duke of Harshaw can help.

 

[Mike Hunt]

@Mike Hunt lives in Somalia. I'm sure he can add some useful information for all of us on this subject

lol what gave you the impression that i live in Somalia AbdiJohnson ?

 

[Inactive]

lol what gave you the impression that i live in Somalia AbdiJohnson ?

You told us yourself weeks ago after you told someone you would take a picture of something before you went to work.

 

[Mike Hunt]

You told us yourself weeks ago after you told someone you would take a picture of something before you went to work.

Yeah you're right.i remember that....i don't live there anymore.

 

[Mike Hunt]

Hmm, but i've heard some really good real estate is being bought by foreigners there?

You have to consider a few factors when you purchase land/real estate in Somalia.

1) Is the deed(Superlock) that the potential seller provides you authentic?

2) Risk/Reward

3) Are you purchasing real estate as a long term investment vs short term

4)Do you have people that will watch over you're property if you do end up leaving?. I say that because i know a few diaspora men who purchased real estate/land and weren't from major tibes. When the left back to the western country they live in, a local criminal gang printed counterfeit deeds and sold they're real estate/land to unsuspecting buyers. They wemt on to use qabil as a way to strongarm them out of they're property. Established notory publics are a good way of detering this problem.

I'm not sure about other regions of the country but the above has come from my experience in buying and selling land in Banadiir. I've personally purchase plots of land in Mogadishu, Afgooye, Balcad and Marka and i'm sitting on them as a long term investment.

 

[AceofSom]

The south is a big area, you need to specify where. I know mostly about Mogadishu.

Land in Mogadishu really depends where you looking at, if your looking at any of the inner suburbs like Wardigley aka Warta Nabada or Howlwadag where Barakaha is located, its quite expensive from $90k to 250k inside Bakaarah markets. However the most expensive by far is around the KM4 area, where some of the prices are mind boggling for Somali standards, I heard up to a million.

The good thing is that you can get some really cheap land too, I think around the outskirts of Medina and Daynile its around 15k to get a piece of land. Furthermore, new estates are popping up such as Darrusalam city with the median price between 70k to 150k.


Other then some areas in Mogadishu, I doubt land is expensive in the South

 

[Admin]

There are no laws/ownership rights. One day it might be yours, the other a person dispute it and people DIE.

 

[The_Cosmos]

The south is unstable and hoping for peace is just wishful thinking. Hargeisa is definitely a great place to think about. Hargeisa has security and is very stable. You don't need clansman to protect your property, just a trustworthy family member.

My family owns a significant bit of land that we've been guarding for quite a bit. It's just off the main city into the suburbs. We intend to build villa there (I don't really know why).