Dar es Salaam’s luxury property market is taking a different approach to apartment pricing as a new residential development removes traditional premiums for higher floors and sea views.

Divine Serenity, a $30 million (about Sh78 billion) luxury housing project in the city’s Masaki neighbourhood, is offering selected apartments at the same price, allowing buyers to choose from available units without paying extra based on location within the building.

The developer says the move is aimed at giving homeowners and investors greater clarity at a time when demand for premium residential properties in Tanzania continues to grow.

The pricing model challenges a common practice in the real estate industry, where apartments on higher floors or with attractive views often command significant price increases despite uncertainty over whether those views will remain unchanged.

Fixed pricing aims to protect buyers and investors

Tanzania Regional Owner James Prevost said apartments with the same size, design and specifications should not carry different prices simply because one unit is on a higher floor or faces the ocean.

He said some developments charge up to 20% more for sea views or higher positions, but surrounding construction can eventually affect those benefits.

For investors, paying a large premium without achieving higher rental income could reduce overall returns.

“If an investor pays 20% more for an apartment but cannot achieve 20% more in rent, the additional premium affects the rental yield,” Prevost said.

The 136-unit development along Haile Selassie Road has already sold 41 residences before its official launch, showing continued interest in high-end housing in one of Dar es Salaam’s most sought-after areas.

Flexible payments target homebuyers

The project is also introducing a payment plan designed to make ownership easier for buyers.

Customers can reserve selected apartments with an initial $5,000 payment and complete the balance over a period of up to 36 months.

Installments will be linked to construction milestones rather than fixed dates, allowing buyers to follow progress before making further payments.

The development will include a rooftop padel court, infinity pool, restaurant, fitness centre, children’s play area, banquet hall, retail spaces and landscaped communal areas.

The developer is offering a 15% discount on selected apartments during the launch period, subject to availability.

Divine Serenity is being developed by Divine Steel Ltd Tanzania, a subsidiary of India’s Nav Durga Group.

The company operates in the construction and property sector and is behind the Dar es Salaam residential project as part of its expansion into Tanzania’s growing real estate market.

Managing Director Shivanshu Chhawchharia said the project reflects the company’s confidence in Dar es Salaam’s long-term property demand and its goal of creating a residential development that combines location, design and value for buyers.

Masaki remains one of Dar es Salaam’s most desirable residential districts, attracting local buyers, expatriates and investors because of its access to business centres, diplomatic offices and lifestyle facilities.