Addis Ababa 40/60 Condominium House R...

Addis Ababa 40/60 Condominium House Registration begins August 12

Posted in the Ethiopia Forum

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tigidc

Silver Spring, MD

#1 Aug 11, 2013
Addis Ababa 40/60 housing project registration is scheduled to be conducted from August 12 - 23, 2013 at 116 Commercial Bank of Ethiopia Branches.

For those who live abroad (Diaspora), an office is prepared for registration at Bole sub city in front of Woreda 5 police station.

http://www.ethioabay.com/2013/08/addis-ababa-...
tigidc

Silver Spring, MD

#2 Aug 11, 2013
a one, two and three room house, under the 40/60 scheme, costs 162,000 Br, 250,000 Br and 386,000 Br, respectively.

Monthly savings:

one - 1033
two - 1575
three - 2453
fish

Asosa, Ethiopia

#3 Aug 13, 2013
the rule is complicated and not just for diaspora. why we have to pay 100% and instead of 1575 for 2 bed room 4167 just over double price. its not just and they should have make it clear from the beginig not just when you are at the registration desk.
bkad

Minneapolis, MN

#4 Aug 14, 2013
fish, what are you saying? Are you saying diaspora have to pay 4167 for a two bedroom or locals have to pay 4167? Can you explain what you mean.
HMu

Whitestone, NY

#5 Aug 14, 2013
What they now are saying at the registration (they didn't say before)is the diaspora doesn't go into the 40/60 plan to save 40% in 45 years and lend 60%. They are saying we have to save and finish all 100% of the house cost in 5 years.
HMu

Whitestone, NY

#6 Aug 14, 2013
correction -
I meant in 5 (five years) sorry ,
bkad

Minneapolis, MN

#7 Aug 14, 2013
Are you serious? That just increases the cost to another level. They're hurting their own investment with this.
HMu

Whitestone, NY

#8 Aug 14, 2013
The stupid thing is they are not telling you when they take $60 for wekelena,$100 for the Yellow Origin ID....and more....
They just announced it yesterday at the time of registration....Hope we all can do it monthly no matter what.
of cource we have to live here too, we got expenses, but hope we all can do what ever we choose it get.
bkad

Minneapolis, MN

#9 Aug 14, 2013
Ah...it's cheaper to do wekelena over there. The $100 for yellow card is normal, but you get a 5 year visa with that $100 (or atleast I did).
I will fill you in when I find out more information from people there as well.
Gim

Toronto, Canada

#10 Aug 14, 2013
That is a scam. It is not well thought from the beginning and quite frankly it is all done so that they steal your money. In five year you are not guaranteed of having a house nor you choose a place. They are just manipulating people because they know people need a place and do everything to get one. STUPID
Lina

Warder, Ethiopia

#11 Aug 14, 2013
Hello, I am new here. I got some questions , is it true that the diasporas must pay a 100percent ? Or we can pay as the others do ? Are theyexpecting cash in dollar, right there ? Or there is some kinda arrangement ? What's the deal here? Please help me out ! Thanx .
Lina

Warder, Ethiopia

#12 Aug 14, 2013
And I just read some are saying the payment is almost double for the diasporas ?? How and where can I get the clear information??
Gim

Toronto, Canada

#13 Aug 14, 2013
Yes you have to pay 100 percent of the cost of the house over the 4 to five years which is just something new. They were saying 40 percent before just like it is for ppl in addis now and change it to 100 percent because of the average income of us living outside. They have no idea of how much we make or spend but apparently they are calculating for us. So while ppl in addis can pay the 40 percent over the 5 years and the 60 percent in 17 years after they move in we are required to pay rhe total amount in five years before we even move in. It is pure stealing and ofcourse they don't say this at the biginning so that they make money from the wekilina and card rhat you have to pay money to get besides other things. DON'T DO IT
HMu

Whitestone, NY

#14 Aug 14, 2013
Well i don't think the price of the houses is different for diaspora but the monthly saving required will be more because it needs to be finished 100% of the cost in 5 years.
Also registration and monthly payments are in dollars.

No dollar no registrations

http://www.andebet.com/video/watch.php...
John

London, UK

#15 Aug 14, 2013
Hey guys what they said is for 40/60 three bedroom flat I have to pay $344 p/months I don't know for how long
Gidash

Chicago, IL

#16 Aug 14, 2013
Lina wrote:
And I just read some are saying the payment is almost double for the diasporas ?? How and where can I get the clear information??
Lina:
Gidash

Chicago, IL

#17 Aug 14, 2013
Gim everything you put here are manufactured in your spoiled mind: the reality is visible. No more foolishness. You might be hopeless or homeless, we Ethiopians don't need money to build the new Ethiopia, as we did it.but we strive for our innocence diaspora who wants to own their house , we are teaching the US government how to make beneficiary the middle class by creating opportunities to make the middle class house owner, watch what the Obama Government is doing these days .
Gidash

Chicago, IL

#18 Aug 14, 2013
John wrote:
Hey guys what they said is for 40/60 three bedroom flat I have to pay $344 p/months I don't know for how long
obviously nothing is free everywhere in the world,
Abraham

United States

#19 Aug 14, 2013
I'm so much amayzed about some handful Ethiopians that whatever EPRDF do good things to benefit n improve z life style of its people, they r z all times number one complainers n spread race hates back home as well as abroad. So please try to be rational n just people okay.
Abay

Minneapolis, MN

#20 Aug 15, 2013
I think it is good deal and it is very cheap
price .you can not buy any condo $ less than $800000 Birr in Ethiopia please try to take an advantage from it you cry now you will cry more later if you not have it now
do not bull your self

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