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Real Estate Briefing - Categorized | Market Moves, Middle East and Africa more

Uganda: Are we in a property market burst?

Posted on 30 January 2013

After four years of a mind-numbing experience paying rent, Alfred Kakuru, an employee of one of the corporate companies in town thought it was high time he owned a house. He sought a mortgage loan from one of the local banks. “I really hoped I had survived the hassle of rent with landlords,” he says.
By the time he acquired the loan, it was valued at the interest rate of 15 per cent. Kakuru thought his salary of Shs 750,000 a month would help him finance the mortgage and realise his dream for a home. However, this was not to be. The demands become too much and the interest rate was revised upwards at the peak of inflation in 2011, when the number touched 30%………………………………………..Full Article: Source


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