Real estate development should cater for everyone
RE: “How not to market Kigali’s luxury villas” (The New Times, March 19).
It's tough, but you bring lots of insight. The real estate developers in the market should do more niche targeting.
Having said that, we need to look at real estate from the perspective of all stakeholders. Developers are not speaking 'alien' tongues by design but are mostly reacting to the market situation.
While bank interest remains in the region of 18% (the effective is usually over 20% when you factor the side charges) and land remains expensive and scarce, many developers will struggle to speak the language of 25m.
Kefa Angwenyi Omariba