Property developers in Kampala’s prime residential areas, especially those with newer apartments, were forced to lower rents in 2019 to stay competitive as supply overran demand, according to a new report by Knight Frank
The headwinds that hit Uganda’s economy in 2016 did not spare the property sector; it was “a turbulent year for the property market,” real estate consultancy Knight Frank says in its Uganda Market Update for the second half of 2016.
In about two months, Uganda’s stock market will be able to list a new security that makes it possible for institutions and individuals to invest in real estate, and earn high dividend yields that are exempt from taxation.
If you took out a 30-year mortgage for the cheapest of NHCC’s available projects, the two-bedroom unit in Mbarara which costs Shs199 million, you’d have to pay Shs3.5 million per month. A 15-year mortgage for the same unit costs Shs3.6 million per month.