Where are you buying?100%. buying and holding on to land long term is not only the best but my favourite investment. I like tangible assets compared to intangible assets
its also not as affected by inflation compared to other investment such as the stock market
in and around banadir, farms in jowhar, and a few plots i bought with a friend in hargeisaWhere are you buying?
How does buying land even work in somalia? Can a Darood buy land in HS and can a Hawiye buy land in PL? Always wondered about that
Prices in our towns are no better, they are extortionate. I am waiting on the next financial crisis, may Allah forgive me.No offence but im not buying in hargeisa-mogadishu, prices for land exceed it's true value when u factor inflation 5% a year. It shud be worth 20k for small land plot not 100k due to diaspora pressure, your over-paying by a great margin, plus diaspora pressure will cool down as new generation r not going to Somalia which is going to send their land values down, it's not a good long-term investment when u factor those variables.
Im buying in the 'capitals' of regional govt(gm, hs, pl, jl) as prices still reflect their true value and growth is happening relative to proper inflation not diaspora. PL is definitely my go-getter due to 'roads' being created is going to shoot up price relative to infrastructure. Those lands in hamar-hargeisa no infrastructure, ur simply buying diaspora valuation not the true valuation indexes meaning long-term losses