Over the past few years, the real estate business has been growing so fast, and Mbarara is no exception. More property agents and companies are springing up every day in response to the growing demand at hand.
According to Herbet, the Director of Amity, professionals like quantity surveyors, architects, civil engineers and valuation surveyor have gained popularity nowadays due to this growth in the housing sector. This is equally reflected by the rise in number of house brokers and mortgage facilities offered by banks.
The lands ministry statistics also confirm that over 2000 housing units are set up annually and at least 60% of the old structures (in the country) are roofed with iron sheets meaning that land is bought day in day out.
Despite being dubbed ‘high end’, the concept of real estate is also growing particularly among young professionals attracted by the prestige that comes with it.
To meet the needs of the young emerging market, most of the companies including Amity have come up with land at cheaper fees and in this way, people with less money, are also likely to afford living in the closed communities by even paying in bits up to when they finish paying all the money.
The other challenge, especially in regards to physical planning, is the way some property agents are subdividing plots. Various newspapers have been running adverts of plots available in some particular estates, but when you look at the layouts of such estates in terms of road infrastructure, it leaves a lot to be desired and this is not the same issue at Amity as we provide to people with we planned for estates.
From an urban development point of view, such patterns are not sustainable because there is a risk of adverse shortage of land within the next 15-30 years or so because the current trend does not seem to have a futuristic notion at all.
If you’re looking to acquire land in any of the above listed areas, Amity Realtors Limited is here to help you buy land in the fast growing City of Mbarara.
For more information call 0200931453/0394883574, Whatsapp 0777564588 or visit Kyosiga House Level 2 Room 305. You can also check out our website for the available listings.