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MORNING MARKET BRIEF - SATURDAY, DECEMBER 21, 2024
Introduction: The Daily Morning Market Brief is a dynamic, comprehensive, and essential tool for anyone seeking to stay abreast of the trends, shifts, and current events in Uganda's real estate sector. Never begin your day or morning without reading or listening to a Daily Morning Market Brief, Situation Report, Market Overview, or Status Report from the Real Estate Database (RED). To do otherwise is to risk missing the pulse of the local real estate market.Overview: Uganda's real estate market is currently undergoing a significant transformation. Key areas like Kampala, Jinja, Entebbe, and Gulu are experiencing a surge of activity. With a broad range of properties, from high-rise apartments to sprawling residential estates, the market is diversifying to accommodate various demands. Snapshot: The market is teeming with activity, with a noticeable increase in construction projects. Areas like Mbarara, Mbale, and Fort Portal are seeing rapid development of commercial and residential prop

WHAT DOES THE HOLY QURAN SAY ABOUT THE REAL ESTATE INDUSTRY, AGENTS, REALTORS, AND BROKERS?
Real estate is a critical aspect of human society, providing shelter, security, and a place to conduct business. As such, it is natural to wonder what guidance religious texts offer on this essential part of life. The Quran, Islam's holy book, provides profound insights into various aspects of life, including the ethical and moral principles that should guide real estate dealings. While the Quran does not specifically address real estate in the modern sense, it does offer valuable principles that can be applied to real estate transactions and ownership. The Concept of Stewardship (Khilafah).In Islam, the concept of stewardship, or Khilafah, is central to the understanding of property and land ownership. The Quran emphasizes that everything on Earth belongs to Allah, and humans are merely trustees of the land. This notion is encapsulated in the verse:"To Allah belongs the dominion of the heavens and the earth and whatever is within them. And He is over all things competent." (Quran 5:1

THE CHALLENGE OF DEALING WITH SELLERS WHO ARE IN NO HURRY TO SELL.
Sellers who are not in a hurry to sell can pose a unique challenge for both eager buyers and proactive real estate agents. The reasons behind their lack of urgency vary, ranging from financial stability to speculative expectations. In this blog, we will explore the frustrations and dynamics involved when dealing with sellers who are in no rush to part with their properties.1. Financial Comfort:One common scenario involves sellers who are already renting out their property, enjoying a steady stream of income. This financial stability eliminates the urgency to sell, as they are content with the current arrangement. The lack of pressure to finalize a deal can be frustrating for buyers and agents eagerly looking to close transactions.2. Overpriced Listings:Some sellers choose to list their properties at significantly higher prices, often double or triple the market value. This strategy is often employed with the hope that a buyer seeking to conceal illicit funds in real estate will come al