SomaliNet Forums

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)

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

its Eid, chill out bro.

Apologies my good friend. Your website looks very nice.

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

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

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

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