Thursday , November 7 2024

Occupancy in upscale suburbs up – Report

Residential rental houses

Kampala, Uganda | THE INDEPENDENT | Investors in apartments in the upscale suburbs of Kampala like Nakasero, Naguru, Mbuya and Kololo saw the best start of 2019 with a surge in demand from expatriates compared to last year.

According to estate agent Knight Frank Uganda report for the first six months of 2019, occupancy rates for prime residential apartments increased from 69% recorded in the first half of 2018 to 78% in first of 2019.

The big increase was seen in the 2-bedroom apartments, with huge demand from the expatriate community.

Knight Frank says there was a notable surge in monthly rent for these apartments from USD 2,100 (UGX 7.7m) in 2018 to USD 2,250 (UGX8.2m) in 2019.

This surge in demand is a vote of confidence in the economy, which grew 6.1% last financial year, showing that companies are hiring expats to push their operations.

Knight Frank had earlier reported Ugandans were moving away from upscale suburbs, seeking to live in a little far suburb like Najjera, Kyanja, Kiira, and Namugongo to reduce monthly rent.

It begs a question whether benefits of growth are trickling down to them.

Advertisement

Meanwhile, Knight Frank reports that rent for 3-bedroomed apartments declined by 5%. This is mainly attributed to supply outstripping demand for 3-bed units.

On the office space, the Kampala office market registered a 2% growth in occupancy from the first half of 2018 to the first half of 2019.

The increment was seen in grade B+ properties. Tenants are taking advantage of low demand at present to drive harder bargains for lower rentals, particularly for less prime properties.

******

URN

2 comments

  1. Office 365 is a lot of cloud-based programming by Microsoft (MS).

    Contingent upon the arrangement or membership you buy, it
    might incorporate the most recent variant of Exchange
    Email, SharePoint and One-Drive for record and online stockpiling, Office
    Suite (Outlook, Word, Excel, PowerPoint, and Teams or Skype for Business). https://officesupport.net/

  2. Find three or four solid options, and don’t get emotionally connected to any of them.

    Let’s discover out some important aspects of the applications’ improvement in the
    sphere of coworking spaces, meeting and conference rooms booking.

    Starting out with small means holds the prospect to be able to grow
    bigger after which seize a better market. However, starting small has a host of challenges hooked
    up to it that the enterprise owners need to deal
    with with success in order that they could also be ready
    to reach greater heights. In case your thought is to make furniture, the
    noise could not make many associates in the same constructing if their businesses should not involving manufacturing as nicely,
    and that might put you on the street in short order. Each of pieces is entirely hand
    made and produced in restricted editions utilizing exactly the same methods
    and designs that are represented in the historical archives of Piero Fornasetti. https://inspacelocations.com/

Leave a Reply

Your email address will not be published. Required fields are marked *