According to the 2014 national population census, Najjeera is a part of Kira Municipality, which is Uganda’s second largest urban center after the capital city of Kampala. According to the 2014 national population census, Najjeera is a component of Kira Municipality. It is located between Kyebando-Kisasi Road and Ntinda-Kiwatule Road, in the middle of the two roads. Najjera is located around 10 kilometers northeast of Kampala’s core business center, accessible only by road. Originally, the neighborhood was a low-density residential neighborhood, but since 2000, it has grown in density and is now a mix of residential and commercial properties, including both retail and office space. Najjera is currently home to an unique mix of cultures, with a population made up of people from a variety of different social backgrounds and backgrounds.
Foreigners, expatriates, high net worth individuals, renowned business people, politicians, and other notable figures have all been known to reside here in the past. The neighborhood consists of a combination of mansionettes, modern flats, mixed-use developments, and office suites, among other things. Building opportunities in Najjera are increasing as the city continues to develop and expand. Good infrastructure, hospitals, educational institutions, shopping malls and centers, security, entertainment establishments such as hotels, cinemas, and bars are some of the key draw social amenities for investors in the area.
Land in Najjera.
Residential land prices in Najjera have increased from an average of Ugx 190M per acre in 2011 to an estimated Ugx 570M in 2021. Construction of infrastructure and the provision of social services in the area have resulted in a dramatic shift in the community. A second factor is the migration of upper-middle-income earners into Najjera, which has raised the desire for both residential and commercial developments, which has resulted in a high demand for land. Because of the current global epidemic, land prices in Najjera have suffered exceptional volatility and reductions. In the absence of sustained market stability, investors have exercised prudence and deferred making purchase decisions. The inability of some landowners to meet their financial obligations has prompted them to list their properties on the market. For investors, on the other hand, this has offered an opportunity as well as increased bargaining leverage because their cash flow has not been adversely affected.
Office space is available.
Because of the ongoing global epidemic, there has been a major decrease in the demand for office space. Working from home has becoming increasingly popular among corporations and businesses. Since covid19 is a measure of convenience, people are compelled to work from home in order to save office overheads. In a brief study, it was discovered that the Najjera region accounts for 5 percent of the entire office space in the neighborhood. Re-invention of office space as well as the emergence of international corporations are two reasons that have contributed to the increase in the supply of office space in the Najjera area.
Residential apartments
The majority of the residential property in Najjera is made up of mid-rise apartments that range in height from 4 to 10 stories. High-rise complexes such as Najjera Heights Apartments are preferred by developers such as Buildnet because they are the most efficient way of utilizing available land. They provide better ventilation, sunlight, and views than other types of buildings.
Apartments in Najjera earn an average total return of 13 percent for a one-bedroom unit with an average price of Ugx 130 million and an average monthly rent of Ugx 350,000 for unfurnished rental units. If the property is furnished, the average total return increases to 20 percent. The average price of the 2 bedroom flats is Ugx 250M, and the average price of the unfurnished rental units is Ugx 750,000.
The average price for three bedrooms is Ugx 290 million, and the average price for four bedrooms is Ugx 340 million. The average rent for unfurnished units with three bedrooms is Ugx 1.5 million, while the average rent for four-bedroom units is Ugx 3.6 million. Apartments in highly accessible locations with modern facilities, such as the Najjera Heights Apartments in Najjera, have greater rental returns as compared to older units in the same neighborhood or neighborhood.
Conclusion
The residential market landscape is projected to continue dynamic as more high-quality products, more flexible payment options, and more modern facilities become available. Najjera provides excellent investment opportunities, with an average rental yield of 10% for unfurnished flats and 18% for furnished units. Developers will continue to build in Najjera in order to meet the demand for studios and one-bedroom apartments, according to the forecast for the future. Demand for office space is likely to stabilize in the next several years, which may result in greater occupancy rates in the coming years. The rental market is likely to perform better than the sales market, despite the fact that prices have barely changed.
Because of the high land prices in Najjera, real estate developers such as Buildnet will continue to prefer high-rise residences, which take advantage of the available vertical space. Because of the increasing demand for residential flats for rent and for sale in Najjera, land prices in the area are expected to rise in the near future. According to the Ministry of Land and Housing, Uganda continues to suffer from a housing crisis, and as more individuals rise to the upper-middle class, Najjera will continue to be a viable housing option for those in that level. In comparison to other themes, serviced apartments surpass them due to the differentiated features of the hotel living concept that they provide.
