Balderas Condominium

Balderas is a government condominium site in Yeka sub-city, in the inner east of Addis Ababa. It is one of the best located condominium sites in the city, and one of the most expensive. Listings also write the name as Baldaras or in Amharic as ባልደራስ. Local names such as Signal Balderas, Aware Balderas and Kebena Balderas refer to the same part of the city.

Where Balderas is and how to get there

The Balderas condominium blocks sit between Kenenisa Street and Cote d'Ivoire Street in Yeka. OpenStreetMap marks the residential area of Balderas Condominiums at about 9.026 N, 38.783 E. Kazanchis is about 2 km to the south-west and Megenagna is about 2 km to the east.

The nearest light rail stop is Hayahulet 2 on the east-west line, about 1.3 km south of the site. Hayahulet 1 is a short walk further east. From there, the line runs west to St. Urael and Bambis, and east to Megenagna, CMC and Ayat. Many banks have a Balderas branch on the main streets, including Commercial Bank of Ethiopia, Dashen Bank and Bank of Abyssinia.

Landmarks near the blocks include the Yeka Sub City Public Library, Abune Gorgorios School, Kebena Kidane Mihret Church and the Balderas Hotel.

History of the site

Balderas is an inner-city site from the early years of the city's condominium program. The program started in 2005. A Reuters report from October 2016 describes Balderas as an inner-city complex. It quotes a resident who moved from a three-bedroom kebele house into a one-bedroom unit there, after a four-year wait.

The same report says that well-located complexes like Balderas house more and more well-off professionals. Sites on the edge of the city tend to house lower-income residents. This pattern still shows in prices today.

We could not find a published source for the year the city handed over the blocks, the number of units, or the savings scheme behind them. Balderas was not part of the 14th lottery round in 2022. The allocation papers of each unit name its scheme, so ask the seller for them.

Blocks and unit types

Listings show two main unit types at Balderas. Sizes are similar across the site.

One listing names "Balderas No. 2", so the site has more than one numbered section. Most condominium blocks in Addis Ababa have no lift, so ask which floor a unit is on before you visit.

Prices to buy

Balderas units cost more than condominiums on the edge of the city. In July 2022, The Reporter named Balderas, Gotera, Gofa Mebrat Hayl and Gerji as the most expensive condominium locations in Addis Ababa.

The table shows asking prices on listing portals, checked in October 2026. Some listings were first posted earlier, so treat them as a guide to the range, not as sale prices.

On these listings, a one-bedroom unit asks about ETB 6 to 8 million. A two-bedroom unit asks about ETB 11 to 15 million. That is about ETB 130,000 to 190,000 per square metre. Most sellers say the price is negotiable.

For comparison, The Reporter put the market price of condominiums at over Br 30,000 per square metre in 2022. Prices in birr have risen fast since then. See our guide to house prices in Addis Ababa.

Rent

Rents at Balderas are high for a condominium, because of the central location. A ground floor one-bedroom unit of 54 m2 is listed at ETB 30,000 a month. A two-bedroom unit of 81 m2, offered for sale, states a current rental income of ETB 40,000 a month. Furnished units ask more.

Browse current condominiums for rent in Addis Ababa to compare.

Living at Balderas

• Location. Kazanchis and Megenagna are each about 2 km away, and the light rail is a short walk south. This is the main reason people choose Balderas.
• Services. Banks, pharmacies, bakeries and mini markets line the streets around the blocks.
• Schools. Several schools are close to the site, including Abune Gorgorios School. Visit the school before you choose a unit for a family.
• Shared costs. Owners pay into an owners' association for shared areas, pumps and security. Ask the association for the monthly fee.

Water pressure and power supply vary by block and floor in Addis Ababa condominiums. Ask the neighbours and check the taps on the day you visit.

Buy or rent?

Buy at Balderas if you want a central home and you accept a basic condominium standard. The price per square metre is high, but you pay for the location. Rent if you need to live near Kazanchis or Megenagna for work and want lower costs than a private apartment.

Checks before you buy

1. Title and allocation papers. Ask for the original documents from the housing agency. Check that the name matches the seller's ID.
2. Loan balance. Ask the bank how much of the condominium loan is still unpaid. Agree in writing who pays it.
3. Transfer rules. Confirm with the housing agency that the unit can legally transfer to you. Do not rely on a power of attorney alone.
4. The 40/60 court case. In 2019, the Federal High Court suspended title transfer for more than 18,000 40/60 units. If a seller says a unit is 40/60, ask whether the case affects it.
5. Occupancy rules. In 2024, the city housing corporation told owners of empty 40/60 units to move in or lose their contracts. Check the current rules if you plan to rent the unit out.
6. Broker fees. Brokers often charge a commission. One Balderas listing states 2 percent. Agree the fee before you view.

Read our condominium guide for the full process, and browse condominiums for sale in Addis Ababa. Nearby areas include Megenagna and Kazanchis. For a similar central site, see Gerji condominium.