Tanzania’s real estate ‘too informal’

>Entering into real estate transactions in today’s litigious society without taking advantage of an arbitration clause is like driving a car without a seat belt: it is a dangerous and unnecessary risk. However, most people just cruise through this “Arbitration Clause” part of the contract without really understanding what is happening “there”.

>Well, may be you are one of those people, who have thought of investing in a real estate business, but you do not know how or you are a person, who thinks real estate is for the people whose wealth is almost Sh20 billion. Such ideas come only when we lack knowledge about real estate. Have you ever asked yourself the following questions: what exactly is real estate?

Global online property listing, Lamudi, is targeting to formalise Tanzania’s real estate by creating an online platform for agents to market their properties.

I was only eight years old, when I saw my father switch on the TV for the very first time in his life, I think. That was a great day for my mother as well, you could see her face lit up with amazement (if you can call it so), or maybe it was just pure joy, only she knows. It seemed as if my mother and father had been saving money for years to be able to afford a colour television and the first day it was going to be used, even my grandma was invited to see the TV, I think. I don’t...

In business, be it in Tanzania or elsewhere, a contractual agreement is the most essential part of any real estate-related exchange.

Cheshire medic billed dead neighbours' estate for informal advice  BBC NewsView Full coverage on Google News

Starting and building one’s wealth may take different forms, but the most acknowledged way is through investing. Yes, you can inherit a fortune, but if you can’t grow that into more investments, sure that wealth will slip-off your fingers like water.

HURDLES IN OWNING A PROPERTY IN ZANZIBAR

Hello. I am a diplomat residing in Tanzania and have recently been faced with a situation that requires your help. Please, tell me, do diplomats have to pay stamp duty on transactions involving real estate made whilst on diplomatic missions? JQ.