Cost of properties sky rocket in somalia and somaliland

[faysal84]

Hey guys,

whats up with the cost of properties in somalia and somaliland.

I mean there is no shortage of land so prices sky rocketing makes no sense. seem more like a bubble to be honest. The other thing is, i think because there are no banks in the country (other than dahabshiil etc) people are putting all their money in properties, causing the prices to swell.

I am hearing million dollar properties in mugadishu:

http://www.theguardian.com/global-devel ... n-progress

anyone have some inside knowledge?

Faysal
founder of www.Somestate.com
East Africa properties website (FREE)

[Insomniac]

It is called a bubble, you f-king twat. Relatively rich from qurbaha are inflating the prices. They are locking out the poor people.

[faysal84]

its Eid, chill out bro.

[Insomniac]

Apologies my good friend. Your website looks very nice.

[faysal84]

apology accepted. ..and thanks for liking my site.

worked really hard on it, inshaAllah it will go somewhere positive.

[gurey25]

what comes up must come down..
this is when gurey always gets involved and makes a buck..
i got into the dubai bubble early in 2003 and got out by 2006,
i got into the start of the stock market bubble in dubai 2003 and left just before the crash in 2005.


i expect the crash to be around in 2 years time

[faysal84]

oh wow.

the somali boom has been happening since 1990s tho. ever since I can remember I have had family and friends
buying and doubting their money in 3 to 4 years.

what makes you think it will all end in 2 years.

I mean oil is being explored so potentially we could see a serious bubble.

curious to know why you give it a time line akhi.

faysal