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Issue No 028 | ISSN 1821-7753May 2014

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The Ultimate Property Guide

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The Ultimate Property Guide

NEW USHIRIKA TOWERMODERN OFFICES

TO LETsee page 4 & 5 for details

The DarProperty May 20142



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The DarProperty May 201466 The DarProperty September 2013The DarProperty March - April 20122

AVAILABLE FROM:In Dar Es SalaamSlipwayJ. D. PharmaciesAirport Terminal 2All Shopping MallsVillage SupermarketNHC - Head QuarterScholastica Book ShopsAll Novel Idea Book ShopsPremium Super MarketsBundu Shop - Southern Sun Oysterbay Shopping CenterNakiete Pharmacy - MwengeHome Shopping Center Renowned Hotels & Offi cesTanzania Investment Center (TIC) All Major Real Estate Agents

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PropertyDar PropertyDarTanzania’s Ultimate Property Guide.

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PublisherDarproperty Tanzania

Editor In ChiefMonica Kijo

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Designs & LayoutsAlan Peter

Dennis [email protected]

Marketing & SalesMichael Francis

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DistributionBoniface Metta

Online Content ManagerMbwana Mbura

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Regulatory & Legal AdvisorsNexus Associates - Attorneys at Law

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The DarProperty May 2014 7 The DarProperty May 2014 7

The DarProperty Jan 2014 9

Spectacular new property for sale near the Ngorongoro Crater. The hotel is a five star luxury boutique property with six queen sized ensuite rooms.

The hotel is located on a small six acre farm on a hill top with panoramic views of the Ngorongoro forest. The hotel is very spacious and boasts a unique high spec

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Tips For Buying Luxury Real EstateThere is not one design, style or size

that embodies a luxury home. It could be a sprawling 15,000-square-

foot French manor set on several rolling acres, or it could be a 4,000-square-foot contemporary home nestled into the side of a mountain. Although it’s difficult to quantify exactly what luxury means, most buyers think they know it when they see it.

Across the United States, sales of luxury homes have been hitting records. The number of California homes selling for $2 million or more, for example, reached an all-time high in 2013, as the state rebounded from

the foreclosure crisis. The U.S. is not the only place seeing bitg sales of luxury homes. Vancouver, Canada’s priciest real estate market, saw a record 36% increase in 2013 over the previous year on sales of homes priced over $2 million.

Prices for luxury real estate have also seen significant increases over the last couple of years. According to Knight Frank’s Prime Global Cities Index, which tracks luxury real estate in 30 metropolitan markets around the world, the hottest luxury market now is Jakarta, which saw price increases of nearly 38% at the end of 2013 over the previous

year. Knight Frank defines luxury real estate as homes that were sold in the top five percentile in terms of value. Other double-digit price increases in the last quarter of 2013 over the same quarter 2012 include Dublin (17.5%), Beijing (17.1%), Dubai (17%), Los Angeles (14%), Tel Aviv (12.7%), Bangkok (12.3%), San Francisco (10.4%) and New York (10.4%).

Why the Growth?

It may seem incongruous that luxury markets are heating up, given that much of the world is still recovering from the 2008 financial


crisis. Like the financial markets, the real estate market operates under the law of supply and demand. And by nature, there are a limited number of luxury homes for sale at any given time in a particular market. That limited inventory alone can help drive up prices as multiple buyers bid on a single luxury property.

Strong Job Market

In many metropolitan markets, such as Denver, low unemployment rates coupled with well-paying jobs have fueled the luxury real estate market. Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado, said, “We have never seen this kind of frenzy in luxury home sales before.

The strongest single market segment for 2013 was clearly the luxury home market. If you include the sales of properties priced at over $500,000 - the top 10% of the market - we saw an increase of 44% year over year.”

International Buyers

In the U.S., international buyers represent a growing percentage of the real estate market, including the luxury market. From April 2012 - March 2013, international transactions were at $68.2 billion, which made up more than 6% of total U.S. existing home sales (in dollars), and more than 4% of transactions, according to the National Association of Realtors (NAR); 2013 Profile

of International Buyers. Florida, California, Texas and Arizona were the leading destinations during that period, with the majority of international buyers coming from Canada, China, India, Mexico and the U.K. These numbers represent a small decrease from 2012’s $82.5 billion in sales to international buyers, but NAR believes this is related to the slow growth in some major European economies and that the issue “should dissipate over time.”

The publication also cites that international buyers typically purchase higher-priced properties compared to domestic clients: international buyers spent an average of $354,000 versus $228,000 for domestic purchases. Due in part to the tight U.S. credit standards facing foreign buyers, the majority of international purchases are all-cash deals (63%). This can put other buyers who need financing at a disadvantage, since all-cash deals tend to move faster through the process.

U.S. Relatively Inexpensive

The U.S. is home to only one of the top 10 most expensive cities in the world, making the U.S. a relatively inexpensive and attractive destination, both in terms of cost of living and housing. According to Forbes Magazine, the top 10 most expensive cities in the world (as of March 2013) are:

1. Hong Kong, China2. Tokyo, Japan3. London, UK4. Paris, France5. Moscow, Russia6. New York, NY7. Shanghai, China8. Singapore9. Mumbai, India10. Sydney, Australia

Buying a Luxury Home

According to the 2013 Profile of Home Buyers and Sellers published by the National Association of Realtors, nine out of 10 buyers used the Internet at some point when looking for a home, and 43% of recent buyers first found the home they purchased online.

While the vast majority of homebuyers rely on the Internet at some point during their home searches, luxury homebuyers can be

REAL ESTATE

at a disadvantage when it comes to fi nding properties online. Many high-end properties aren’t listed on MLS or search engines. And, in order to protect their privacy, many sellers avoid putting information and photos of the property on the internet.

Find a Qualifi ed Real Estate Agent

If you are in the market for a luxury home, a qualifi ed real estate agent who knows the luxury market may be your best bet for fi nding properties that are for sale but that are not necessarily easy to fi nd because of privacy concerns. An agent familiar with the luxury market may have inside information about listings before they hit the open market. And, an experienced agent will be able to help you determine the market value of a luxury property. Most residential real estate is valued using comparables - similar properties in the area that have recently sold. Valuing luxury properties can be a challenge since often there are no similar properties in the area.

Financing

The loan process for luxury homes typically takes longer than for smaller mortgages. Even if your fi nancials are in good order, it may take 45 to 60 days to secure a loan. Since it can take extra time, and because the seller of a luxury home is often interested in showing only to qualifi ed buyers, many real estate agents recommend having your mortgage broker, loan offi cer or personal banker obtain your fi nancing approval early on in the process.

Due Diligence

As with any real estate purchase, it is important to take the time to properly inspect a luxury home prior to purchase. In many cases, luxury homes are larger and have amenities that may require specialized home inspectors, such as:

• Pools and spas• Fountains and ponds• Lawn irrigation systems• Exterior fi replaces• Automatic screen and awning systems• Central vacuum systems

• Heated fl oors/driveways• Sophisticated security/surveillance systems• Landscape lighting

The Bottom Line

The luxury home market has experienced record growth in the last several years. Much of the growth in the U.S. and Canada is the result of international buyers who want to take advantage of favorable exchange rates, are relocating for work, are using real estate as an investment, or who may be affl uent parents purchasing a home or condo for their children who attend North American universities.

Written by:Jean FolgerJean Folger is a technical analyst and system researcher, author of the award-winning book Make Money Trading: How to Build a Winning Trading Business`

REAL ESTATE

The DarProperty Jan 201414

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The DarProperty Jan 2014 17


Ask the Expert Real Estate Laws

PURCHASE OF UNSERVEYED LAND

Q. Hi, my name is Faisal. I recently bought land in an unsurveyed area and i followed all the steps involved in buying of such land. However, I later came to find out that, the land was already sold to someone else, and to make matters worse, the Government was the purchaser under the Economic Processing Zone project. Where did I go wrong? Please advice. Faisal, Dar es Salaam

Hallow Faisal; first of all, we are sorry to hear that. Well without all the information, it’s hard to answer your question, for example how far you are sure you followed all the steps involved to purchase the respective land? Perhaps you skipped a step or two. Since you have not said which steps you went through to secure the land we would advise you to follow the following steps, the next time you purchase unsurveyed land. The first thing you are supposed to do is to conduct on site verification on the said premises. Thereafter you should consult your prospective neighbors about the demises premises at your convenience. Counter check at the local government authorities to verify that the purported owner is truly the owner of the respective land. Then, make sure you prepare the proper documents to effect the transaction. (Best be prepared by a real estate lawyer to avoid legal consequences thereto). Take a passport size photo of both parties to the contract and attach them adjacent to the name of the signatory in the sale agreement. (Make sure you both sign at the rear right side of the photos embarked with a fingerprint)Although it might be a frustrating process it will protect you from unscrupulous persons who would want to con you. If all goes wrong such document is proof of fraud and forgery thus you will have a strong case against the person if you were to take him to court. We would also advise that you to contact a real estate lawyer and brief him about your encounter so that he can help you regain your money.

CONVERTING A BUILDING INTO UNITS FOR SALE PURPOSES

Q: Hi, My name is Mabrouk and I am the owner of multiple buildings located in several places in downtown Dar es Salaam. I usually rent out these buildings but I have now decided to sell out the units in my buildings to various people. How do i go about this process? And what will be the consequences, if any? Mabrouk,Dar es salaam.A: Well Mabrouk the process is simple but a rather tiresome one since there are a lot of stages to go through before you start to sell the units. The process in a nutshell, is as follows: The first stage is to create units; thereafter register a unit plan at the Ministry of Land,

love Tanzania, Is there any other way for me to do so? Brian,Arusha

A: Hallow Mr. Brian, well I am very sad to say that you are right regarding to the ownership of land when it comes to foreigners. Also by being an expatriate it purports that you are not an investor of which automatically means you cannot own land. However, even if you were an investor the land which you would have purchased would only be for purposes of investment and thus not for individual use. For more please contact a real estate lawyer to give you a further guidance on the matter.

Please do send us your question to:

[email protected]/[email protected]:ABC ATTORNEYS., IT PLAZA, 8th FLOOR,OHIO STREET, P.O.BOX 105722,DAR-ES-SALAAM - TANZANIA (EA)Tel: +255 222110236/0713055195/0786624901For more information, you can also read other articles online at www.abcattorneys.co.tz

DISCLAIMER: The purpose of this post is to educate the public on real estate law matters, and is not intended to render any legal counsel on its use. We, as a firm cannot accept any responsibility for any action based on this post. If you are interested in securing legal advice or need assistance dealing with a dispute, please consult your Attorney.

THIS MONTHS’ ARTICLE IS A TRIBUTE TO OUR BROTHER, ADVOCATE LUKE GEORGE SEYAYI WHO PASSED AWAY ON THE 14th OF MAY 2014. R.I.P

Housing and Settlement Development. Then you should declare whether the units would be developed once or in successive phases; obtain a planning consent at the relevant local authorities and also obtain a certificate from a registered surveyor; and thenceforth each unit is registered. You may further note that the unit plan should conform to certain requirements that have been stipulated under the Unit Tittles Act, 2008. Please find a real estate lawyer who will guide you from the beginning till the end of the procedure so as to protect yourself and your prospective clients.

THE UNIT TITLES ACT

Q: Hallow, My name is Joseph i am a Business man I have recently been given an offer to buy an apartment which is in Masaki the apartment is part of a 13 storey building. As I know the land laws of Tanzania recognize an owner of right of occupancy in land. If that is the case can i own this apartment? What are my rights?

A: Hello Joseph, well the law has changed recently on that regard The Unit tittles Act, 2008 recognizes the right to own an apartment (which is known as a unit) in a building under subtitles. Therefore, the answer is yes! You may own this apartment however its transaction is a quite different from normal conveyance. It involves a lot of processes since under such title there are other persons who hold the same titles. Hence it will be proper you consult your nearest real estate attorney whom will guide and advise you accordingly.AN EXPATRIATE WANTING TO BUY AN APARTMENT

Q: My name is Brian a British national and I am an expatriate living in Tanzania. Well due to the high cost of the rent I pay each month, i have been thinking of buying an apartment. However, I am told that a foreigner cannot own land in Tanzania. Is this true? Why? I really need to buy one, the rent is killing me and I

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THE DARPROPERTY EXPO 2014DIAMOND JUBILEE

1.Prof. Anna Tibaijuka, Minister of lands and human settlement development hold a copy of The Darproperty magazine. On the left Mr. Michael Francis of Darproperty, explaining something to her, on the right is Mr. Oscar Mgaya. C.E.O (Tanzania Mortgage refinance Co.Ltd).2. The Chief Guest, Prof. Anna Tibaijuka greeting Ms Linda of Bank of Africa Tanzania. Watching is Patricia Nguma, bank`s mortgage product manager (in red skirt) and other staffs.3. Mr. John. of Lloyde Jones and staff keenly listening to the chief guest (not in the picture) when she toured their stand.4. The Chief Guest signing the visitors` book at the NHC stand. 5. A visitor getting some information from the Remax Tanzania personnel6. The chief guest touring the Crown paints stand. 7. ABC attorneys, from right. The late advocate Luke seyayi. Advocate Yohana Mganga and the team.8. The Chief Guest addressing the press, on her left is Mr. Oscar Mgaya . Chief Executive (TMRC). 9. Mr. Irfan Khaki (in black blazer) explaining something about the Dege eco village to visitors. 10. Mr. Murtaza Adamjee of Global land solutions explaining something to the Chief Guest.11. Different visitors touring the event

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1.Ben Paul (Musician) entertaining the crowd during the Darproperty expo Gala dinner2.One of the guest asking a question to the presenter Dr. David Nyange (Not in the picture)3. The special guest (Wife of the prime minister) keenly following something 4. Mr Rajen Vithlan (On the right) of Aasthi Associate, India and partner.5. Luci Da Silva of Property Plus LTD (Left), the Special guest and a friend.6. Mr David Shambwe of NHC making his presentation.7. FCW staff enjoying the dinner8. Some guests posing for a souvenir photo with the special guest9. Dr. David Nyange from Michigan State University making his presentation.10. Mr Ayub Tesha of TRELD (in a red shirt) with a friend from Alliance developers, India11. The organizing team sharing a light moment with Mr. Mbaga (right) Mortgage product manager of KCB Bank (T).12. Mr Raphael Nondi Of Tanganyika estate agent receiving his certificate from the Special guest13. Mr. Zaeem Ahmed of Ideal Development (Left) and colleague14. Some of the guests exchanging ideas

The Darproperty expo 2014 was organized by

Darproperty (T) Co.The Organizing committee

Michael FrancisDennis MaungaAbdallah MugasaMbwana MburaBrenda Ndashuka

Supported byBoniface MettaBrigita LawrenceFaraji SenkoroTheodora MwangosiGrey MateniCharity IsackGeorge Claus

Special thanks to

Hon. Prof TibaijukaMrs. Tunu PindaMr . Oscar MgayaMrs. Hellen MakwegaMiss Pearl BazilaMr & Mrs E. ShayoMr Emmanuel RingoMichael Urio Edo StarDaudi BoazDj Bon lUvPaulo MugishaSimon MarwaEmmanuel MatondoAngel NavuraMussa MzabaJob RunnersSaidi MoshiDr. David NyangeMr. Mike OmwonyiAlfaran Dewji (Bonge)Anil BhalooMorris OmolloJennifer HauleSebastian Mwaikambo

Our reliable suppliers and partners:

The Guardian LTDLabel Promotion (T) LTDJob Runners Outdoor LTDDelfina Promotion LTDEast Africa RadioClouds Entertainment Group LTDZest ProductionTongwe RecordsMawingu studiosJamana Printers LTDDar es Salaam Serena hotelDiamond Jubilee HallDigitall Ltd

“What is food to one is to another but bitter poison” Lucretius.They say house hunting

is one of the most stressful things you do in life whether you are buying a house, leasing or renting. The stress that comes with finding that perfect place to call home can be overwhelming. For those who have been house hunting or are currently house hunting knows what I am talking about. The process of house hunting is time consuming, daunting, draining and let’s not forget, costly. One could argue this is what keeps real estate companies in business. The process of finding that ideal home without making too many compromises is one that needs patience and dedication. Don’t get me wrong; house hunting does come with its pros, the excitement of moving into a new house and house viewings to mention but a few. I recently moved to Dar-es salaam and had to go through the “exciting” process of house hunting for the first time in Tanzania. I must say house hunting in Dar-es-salaam is as fun as a root canal, especially if you are caught unaware of what is in store for you. There is little or no information online

about the dos or don’t of house hunting in the city to prepare you for what’s ahead. Although there are a number of estate agents advertising their houses online, there is not quite enough information. There are hardly any flat-mate finding websites, but I registered for the few that are available and browsed the internet hoping to see something suitable. I was simply in search of a clean two bedroom house with the essentials, near town, convenient to get to work. Surely this is not too much to ask, I thought to myself. I quickly learned that most landlords do not accept monthly rent and that you are required to pay at least a year’s rent and if you are lucky 6 to 3 months rent. The concept of paying rent on a monthly basis is simply not common here. Out of curiosity of course, I had to ask why this was the case. A landlady told me that it is because they want the lump sum to invest on something else and another told me that tenants are not to be trusted and therefore might not make the payments on a monthly basis. Here I was looking for a place for at least two years and I just learned that I may have to pay 2 years in advance. I was comforted that if the gods were on my side

I might just be among the lucky ones who will have to pay 6 months advance. What happened to paying rent on a monthly basis, surely I thought to myself that houses must be cheap in Dar-es salaam or I must be the only broke person in town. Leasing and renting in commercial capitals is always expensive but Dar es Salaam is arguably the most expensive in the East African region pushed by limited supply of descent houses, lack of planned areas that provide good roads, access to clean water, basic services, high rental costs in its posh areas, real estate agents (dalali) fees and not forgetting the fight by the majority to live closer to town so as to avoid long hours in traffic. It has been found that the increase in urbanization has increased the demand for housing and has ultimately led to high prices of apartments in the city. According to the Population Distribution by Age and Sex report done by the National Bureau of Statistics 2013, Dar es Salaam has the largest total population (4,364,541) in Tanzania followed by Mwanza (2,772,509). The growing population in Dar-es salaam is largely a result of rural-urban migration as well as reclassification of new urban

House Hunting in Dar-es-salaam a tale of two markets


areas. Although urbanization has its own advantages, unprecedented migration of people from rural to urban areas increases the burden on already overburdened public services and physical infrastructures. This ever-growing population in Dar-es salaam has resulted in an increased number in properties and the housing market in general. Demand for apartments and houses in Dar-es salaam is constantly on the rise evident by the rise of skyscrapers in the city. The need for standard housing in Dar-es salaam is fuelling price hikes in the real estate. More and more people are now opting to lease or rent property due to the scarcity of land to buy in the city and the rise in the price of land if any in the city.

PricesHousing in Dar is the tale of two markets – Generally high-end houses and apartments with rents similar or exceeding major Western cities and the more local housing market where monthly rents are often measured in tens or low hundreds of Tanzania shillings instead of dollars. Another interesting fact that I found in my quest for that place to call home is the fact that most standard houses are paid in dollars and not in Tanzania shillings. I later on gathered that leasing and renting in Dar-es-salaam was more targeted to expatriates and not the average Tanzanian. House and apartment rental prices are not actively regulated therefore it is no wonder prices seem to be picked up from a hat at times. Basically for some the prices exceed the quality and are not practically priced for the average person in the street. Therefore if you are

earning in Tanzanian shillings this is mode of payment might not be ideal. If you are lucky you might find a house that will accept Tanzanian shillings but most dalali’s quote prices in dollars which do not take into account the average pay for a medium income class leaving in Dar-es-salaam. Research done by DarProperty Tanzania in 2013 illustrated in the table below shows the average advertisement rental for a four bedrooms house in Dar-es salaam per month;

Name of Location

Price in USD Price in Tsh

Masaki 5700 8,692,500

Oysterbay 4500 6,862,500

Ada Estate 4300 6,557,500

Msasani 3468 5,288,700

Upanga 3292 5,020,300

Mikocheni 2244 3,422,100

Kawe 2052 3,129,300

Mbezi Beach 1868 2,848,700

Kijintonyama 480 732,000

In the three months I have actively been house hunting I did have the chance of visiting most of the areas mentioned above. Let me tell you, there are some purely shocking places on offer. Want a “shoe box” which is covered in damp with a mattress on the floor and a rail for your clothes for $600 per month excluding bills? Or better yet want the promise of your ideal house to be completed according to

your requirements in a week’s time when you clearly can see this will probably need at least 2 months to be completed. After seeing numerous houses where I could never see myself living I decided it was time to see houses/apartments that were on the high end. I quickly learned that it was actually cheaper to lease a house compared to apartments. Apartments have the added bonus of a backup generator, water reservoir and for some a swimming pool and are often fully furnished. Did I mention that the prices in the table above are actually excluding furniture? Well if I didn’t then now you know. I saw a two bedroom in Upanga that was going for $2,500 and I was amazed at the poor quality of the house and could not imagine someone would actually rent the house for that price let alone the landlord rent the apartment for that price. Talk about daylight robbery. After seeing several houses I decided that I must now compromise on the distance and find something decent but further from work, a sacrifice I was originally adamant I would not make. Although I did see decent houses for reasonable prices in Mbezi Beach there was no way I was going to live that far from work. I was determined that the furthest I would go was Mikocheni. Now that I had some idea of what I was up against I decided to dedicate time each week to view at least 4 houses in Msasani, Kinondoni, Mwananyamala and Mikocheni. I set a budget, a deadline, reduced my expectations and started the hunt yet again now more prepared. I searched numerous websites, made lots of calls to dalali to see if they had anything suitable, visited


estate agents’ offices and basically talked to anyone who would listen. I was now more than ever focused on finding a suitable house in accordance to the deadline I set otherwise I would declare myself homeless. Dalalis- love them or hate them, you need themI was house hunting on weekdays after work and on weekends. My friend once joked that “Lucy you must have see all the houses in Dar-es-salaam,” since house hunting became my excuse not to attend any social activity. Dalalis became my friends and house hunting became my part time job and landlord and landladies become my bosses. I saw numerous houses, some more than once and met different kinds of dalalis. The drunks, the crafty ones, the bullies, the cheats, the time wasters, the good ones, you name it. Finding a good dalali or estate agent (company) I quickly learned would determine if I would find something suitable or not. Dalalis, I must say, are good at selling themselves and promise to show you houses you have “never seen before” or “decent houses.” However both these are subjective and what is decent to a dalali might be utter rubbish to you. I would get angry at dalalis who showed me houses that I specifically said I did not want; it was almost like they were doing it on purpose. Dalalis come in different forms some want a payment of Tsh10,000 for every viewing, some require for you to pay for their transport to where you found them once you are done house hunting, and others don’t charge anything but expect to get one month’s rent as their fee at the end. Since the dalali’s job is not well organized you will often find yourself

with up to 4 dalalis in your car for one viewing and they might not have the key to the house or apartment when you get there. This can be a little scary if you are house hunting alone after work and you have 4 strange men in your car. Dealing with dalalis requires a lot of patience and can be costly since you are expected to pay for the transport of the dalali to get them where found them or where they need to be.

National housingWith the ever-increasing number of houses and apartments being built by national housing to cater to the demands for affordable houses I decided I would try my luck finding a house through national housing. I had to go to the national housing offices in the areas that I wanted to live in and enquire if there were any houses/ apartments available for rent. I was advised that there is a waiting list and all that I could do at the time is fill in an application form, pay a fee and wait for someone to vacate the available houses and hope I was next in line or waiting for new houses/apartments to be complete. Basically there was no guarantee that I would have a house in the next 3 to 12 months- not something I wanted to hear. It’s been 6 months now and I am still waiting but I have a feeling I will be waiting for a very long time, so I won’t hold my breath.

You win some, you lose someWell I finally found a two bedroom house just a week after my deadline. As expected I did have to make some compromises including distance and no, I did not settle for

Mbezi Beach. Living in the same compound with my landlord, is usually not a good idea anywhere unless you landlord is one of a kind. To some the price is still on the high-end compared to what is on offer and that I would get something of the same standard at a much cheaper price. All I can say to this is house hunting is not any easy task and it does come with a lot of compromises and you have to settle somewhere so for now this is my best option. After my experience house hunting in Dar-es-salaam I think it is time to bring back the fun in house hunting. This could be done by 1) providing more information on the realities of house hunting Dar-es salaam, 2) landlords opting to rent their houses/apartment and accepting monthly payment as opposed to only leasing and accepting payment for the entire lease, 3) house sharing becoming more fashionable, 4) dalalis become more organized 5) increase in more standard affordable houses/apartment and 6) prices been regulated. I am sure that this will be a reality soon and very much looking forward to it!

Tips of the dayBefore you pay for a house, please check with your soon to be local ward on who owns the house. Beware of con-artists (dalali) as they come in all shapes and forms. Agree on a contract before you make a payment and insist on signing the contract before payment otherwise you might be waiting for a very long time. Lucy MindeLLB (Law) LLM (International Law)[email protected].

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DateDarproperty Tanzania is registered in The United Republic of TanzaniaRegistration No: 210444.Tanzania Taxpayer Identification Number (TIN): 110-871-260

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The DarProperty Mar 2014 29

REAL ESTATEThe ABCs of REAL ESTATE MARKET

OVERBUILDING a situation in a given area where has been more real

estate construction than the market can absorb within a reasonable time.

Example: In many cities in the 1980s, offi ce space was overbuilt: there was

more space than potential tenants wanted to rent; as a result, much space

either went unrented or rented at unusually low rates.

MORTGAGE POOL a collection of loans of similar nature that are sold

as a unit in the secondary market or used to back a security that is then

sold in the capital markets.

Example: Lenders Mortgage Company packaged a mortgage pool

consisting of $50 million worth of VA guaranteed loans. The package

was sold to a group of investors who each put up a minimum of $25,000.

SHORT – TERM CAPITAL GAIN gain on the sale of a capital asset that

was held, generally, for less than 12 months. A taxpayer’s short-term

capital gains and losses are merged; the net is then merged with net long

–term capital gains.

Example: An investor sold land that was owned for 4 months at a $10,000

profi t. The sale was the investor’s only capital transaction that year, so the

$10,000 short-term capital gain is added to ordinary income. Net short-

term capital gains do not have the favorable tax treatment accorded to

net long-term capital gains.

INVESTMENT PROPERTY that which is owned for income production and

capital growth potential, rather than for occupancy or use in a business or

for personal pleasure or held in inventory.

Example: Commonly held investment properties are apartment buildings,

rental houses, retail centers offi ce buildings, and land with future

development potential.

INTANGIBLE VALUE value of an asset that cannot be seen or touched.

Example: The goodwill of an established business is an intangible value.

Tshs35m

597sqm

0715 266 516

1/2 KM TO THE BEACH

IT HAS TITLE DEED

Disclaimer• The Darproperty Magazine is only a property guide where real estate owners or their agents and or their real estate brokers place their property’s sale or rent information with or without pictures.

• The Darproperty Magazine does not take any part in selling, buying, or renting transactions.

• All transactions are governed by your local laws. All offers and promotions on this magazine are subject to change without notice.

• The Darproperty Magazine provides you, our readers, a venue for obtaining the information contained in this publication and has no control over the legality of any real estate for sale or rent or other offers made by advertisers, the ability of any of the advertisers to complete the sales in accordance with the offers, or the quality of the real estate offered by the advertisers real estate information for sale and or rent is directly published by the advertisers on this publication and hence The Darproperty Magazine takes no responsibility of any of their information and prices and any mistakes in printing or typing. The Darproperty Magazine has no control over whether Advertisers will honor the offers shown on this publication and does not guarantee the accuracy or completeness of the information contained on this publication.

• The advertised real estates and properties on this publication may or may not be available for sale and or rent. In the event you have a dispute with an Advertiser in any way relating to this publication or the use of information from this magazine, you agree to waive and release The Darproperty Magazine from any and all claims, demands, actions, damages (actual and consequential), losses, costs or expenses of every kind and nature, known and unknown, disclosed and undisclosed relating to that dispute.

VIKAWE PLOTSFOR SALE

(Bagamoyo)

+255 713 278 229+255 783 299 127

These spectacular plots are

located only 3.5km from the

bagamoyo main road

Price. Tsh.10,000,000 per acre

The DarProperty Mar 2014 31

0713 294 486, 0766 422 346

0765 199 [email protected]

daressalaamrealestate.blogspot.com

Mikocheni B, Dar es salaamhouse for sale tshs 450,000,000/=

2000 SQM300 sqm, 25 meters from cocacola rd.Opp. east africa international schoolgood neighbour hood, along hanang st.

mkuranga , beach plot for saleTSHS 30,000,000/=

CLASSIFIEDS

Farm for sale at kiwangwa, 8 acres,no title deed it has 4 bedrooms house3 km from the main road

0754 26 65 16

fully air conditioned with glass frontparking facilities also available, 24hr securitybackup generator, independent block availableone month free rent

Pugu road, dar es salaam

plot for sale opposite to clouds fm, also with a house

kiwangwa bagamoyoFarm for sale

large outdoor space, Available immediately.24 hr security, air condition, parking+255 763 886 [email protected]

0758 536 581

[email protected] 84 47 04 / 0784 73 13 15

mbezi, dar es salaam (mboma road - salasala) 3 bedrooms house with enough space forcar parking, with trees.

0715 737 245

0786259854/[email protected] 0712 009 666 / 0687 514 545

arusha (arumeru district)house for sale | tzs 150,000,000

makongo juu, kk street1600.0 sqm 4 bedrooms 3 bathroomsenough parking space

this property has 3 bedroom andan auxiliary building, with mature garden.

kigamboni, dar es salaam,house for rent | $750

3 bedroom house, fully furnished,air condition, bore hole & nature garden

0752 911 423

[email protected] 913 8140784 913 814

636 sqm

office block for rent

Mikocheni, Dar es salaam plot for sale TZS 650,000,000/=

0755 881 465 / 0655 881 465

masaki, dar es salaam chole road, house for rent usd 2,500

fully furnished rooms,master bedroom andtwo bed rooms, sitting room, big kitchen,vast parking area( 5 car)

0715 040 411 / 0787 264 900

4 Bdrm House 2nd Raw of Beach for sale in ZanzibarThis House need some finishing work.Plot size : 4,800 Sq meters ( 80 m by 60 m )New 4 Bedrooms self contained rooms.Second Raw beach plot with nice Sea view.

2nd raw beach,zanzibar house for sale $175,000 negotiable.

mikocheni - mwai kibaki rd.office space for rent $21 per sqm

Mbezi beach, Dar es salaamhouse for rent USD 2,500

+255 754 778 844

7 bedrooms, semi furnished,parking space (4cars)

bahari beachplot for sale, usd 850,000 negotiable.

Plot Size : 4,900 Sq meters ( 1 Acre )Perimeter wall all roundthe plot with a gate already in position.

+255 758 536 581 / +255 684 601 [email protected]

msasani, dar es salaamhouse for rent usd 2,000

two houses with four bedroom each,large parking space, gardenbehind the msasan road.

0713-457 696 / 0713-328 274

Kibaha,Kongowehouse for sale tshs 150,000,000

0716 73 14 86 / 0658 34 73 73

Coastal Region (Kongowe - kibaha)2 Acres House,few meters from the main road

Plot Size : 9 Acres, Available vegetation / Trees Mango Trees, Coconut Trees , SpicesBanana Trees ,Lemon, Passion fruit treesCassava , Pineapples, Rice , Orange trees etc..+255 758 536 581 / +255 684 601 567

[email protected]

miwani, zanzibarfarm for sale usd 140,000 negotiable.

1531 square meters title no: 97263,land office no: 482670, plot no: 1926, block bkinyerezi área dsm - 7 km fromdar es salaam international airport.near main road

0656 21 68 99 / 0684 79 70 86

kinyerezi, dar es salaamplot for sale, $55,000

1/2 acre plot having a bangalownear white sandsopp. new parkland hotel

+255 717 539 850

white sand dar es salaam, house for salembezi, dar es salaam (mboma road- salasala)house for sale USD 54,000

makongo, dar es salaam (makongo juu - kk)house for sale | usd 180,000

LIST YOUR PROPERTY

HERE FOR ONLY

TSHS 30,000/=

VAT EXCL.

gezaulole - plot for sale tshs 15,000,000/=


MY BEACHOld Bagamoyo Rd. opp Yuasa auto impexP.O BOX 105200. Dar es SalaamTel; +255 22 2701710

NIKUZE REAL ESTATE AGENCYMorogoro RoadP.O Box 10032 Dar Es SalaamTel: +255 789/754/715/ 363 800Email: [email protected]

PHOTO & CO.ESTATEKahama Road/Msasani peninsulaP.O BOX 105121 Dar es Salaam.0786 962 444Email; [email protected].

PROPERTY CONSULTANCY & SERVICES LTD2nd Floor Kevin House - Samora AvenueP.O BOX.7152 - Dar Es Salaam+255 22 2120402, +255 713 690 [email protected]

PRESTIGE PROPERTIESPhone: +255-713-764-447/ 0767471293Tel:+255-22-266-4373Email:[email protected]

SKYMARK REALITIES LTDZanaki st. - Alimanga bldgTel: +255 22 2 134422/33

Tanganyika Estate AgentVillage Walk, close to Sea Cliff Hotel+255 717 032 [email protected]

TRELD COMPANY LTDP.O BOX 7656 Dar es SalaamLocation Msasani Peninsular off toure drive+255 732 222 888, +255 716 777 [email protected]

EL-SHADAI INVESTMENT LTDP.O BOX 17021 Arusha+255 782 677 068+255 754 421 958

HOMES & PROPERTY AGENCIES LTDLand Surveyors & Property ManagersP. O.Box 10079 ArushaBoma Rd. Arusha0787 [email protected]

Tanganyika Estate AgentShoprite Complex,+255 785 984 [email protected]

ZIPO HOMESRivergardens Business Park, Rm 4P.O Box 20 Usa River, Arusha+255 787 474 580/+ 255 754 320 [email protected]

MWANZAESTATEMwanzaestate.com+255 714 245 [email protected]

Zanzibar - properties.comTel: +255 774 44 19 07Hotel Marine - Malindi Zanzibar

ABLA ESTATE DEVELOPERS & AGENCY CO.LTDMikocheni Opposite Shoppers PlazaP.O BOX 3810, Dar es SalaamTel +255 22 2772506E-mail: [email protected]

AMBASSADOR REAL ESTATE AGENCYSinza Palestina - CCM bldgsP.O. Box 62067 Dar es SalaamMob: +255 784 252741

GIMCO ESTATE AGENCY LTDSamora Ave, NIC Investment Hse,P.O BOX 8382 Dar es salaam Tel +255 22 2120988Mob +255-784 900041

GOLDBERG COMPANY LTDReal Estate & Mining TradeP.O. Box 22159 Dar es SalaamOld Bagamoyo Rd, Mikocheni B,0715 270 517 / 0754 270 [email protected]. goldbergtz.com

HAMPTONS PROPERTIES TZHaidery plaza - 1st floorupanga/kisutu streetP.O.BOX 6547 [email protected],[email protected] 204083/ 0784 323133

KATIGA HOUSING EXPERTSP. O. Box 65490 Dar es SalaamTel:+255 2270 1915Cell: +255 764 763 186/+255 658 763 186Email: [email protected]/[email protected]: www.katiga.co.tz

KEY REAL ESTATE SOLUTIONSRegent Chwaku North UrsinoTel: +255 22 27016740715 053 803, 0786 053 803,0754 28 46 84mariam@keyrealestatesolutionstz.comwww.keyrealestatesolutionstz.com

Real Estate AgentsDirectory

DAR ES SALAAM ARUSHA

MWANZA

ZANZIBAR

Enhance your Visibilty & CredibilityGet listed here for Only

Tshs. 29,500/= per Insertion OR Tshs. 300,000/= Annually+255 784 23 89 62, 0688 75 18 68

[email protected]


ARUSHAchokoleinvestmentl i m i t e d

T h e U l t i m at e O u t d o o r S o l u t i o n s

Mikocheni, Garden Road, Dar es Salaam, Tanzania.+255 786 924373, +255 658 924 373

Worry Free - Money BackGUAR ANTEE

P R O F E S S I O N A L

Designers & Installers of:

Car Shades, Gazebo

Electrical Gates

& Umbrellas


Mikocheni, Garden Road, Dar es Salaam, Tanzania.Mikocheni, Garden Road, Dar es Salaam, Tanzania.


P R O F E S S I O N A L P R O F E S S I O N A L

Designers & Installers of: Designers & Installers of:

Car Shades, Gazebo Car Shades, Gazebo Car Shades, Gazebo

Electrical Gates Electrical Gates Electrical Gates Electrical Gates

& Umbrellas & Umbrellas & Umbrellas & Umbrellas & Umbrellas & Umbrellas & Umbrellas

Bank of Africa..........................................1

Chokole Investment Company.................33

CRDB Bank............................................12

Discount Kubwa....................................35

Ensol Tanzania.....................................36

Exim Bank................................................1

Galaxy Estate Management..................17

Halic Construction.........................................3

Hong Xing....................................................13

Lifemate Furniture.......................................19

Mangu kapolo...............................................8

Mwanza Estate.............................................16

National social Security Fund...........14 &15

New day Property agency..........................9

Pamela Lupembe..........................................9

Pangani Estate Services.............................29

spin n Span...................................................20

Tanganyika Estate agents............................7

Tanzania Bureau of Standards...................2

UTT- Projects and infrastructure1,4&5

PATRON PAGE NO

PATRONS

ADVERTISERS

INDEXIf you like what you are reading

Buy from our Advertisers, remember to mention you saw theirAdvert in this magazine

In business, the competition will bite you if you

keep running;

if you stand still they will swallow you.

semon knudsen.

Advertise with US to stay on TOP

DAR ES SALAAM022 27805170784 238 962 / 0713 751 [email protected]

MWANZA0714 245 779

ARUSHA0787 805 566

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