Land ownership and investment is a typical conversation that runs in a majority of social gatherings in Kenya. With the wealthy population in the country, especially the young millionaires, rapidly growing, the real estate sector has in the last decade recorded a mushrooming number of investors.
For the reason that property locations play a role as far as expected returns are concerned, we highlight the best areas potential property investors can consider.
Nairobi Satellite Towns
These towns include Athi River, Juja, Kitengela, Kiserian, and Kangundo Road. The areas have in recent recorded increased land purchase and development. This has been occasioned by almost guaranteed land availability and reasonable prices compared to the city center that has kept an upward trajectory.
According to HassConsult, it is better off for an investor to bank on land in these locations rather than on stocks, bonds or treasury bills
“It is easier to buy 1/8 acre in the outskirts and build several rental houses than building similar homes say in Githurai where there is a lot of county control,” says Pete Muraya, CEO of Suraya Property group.
Thanks to devolution and recent infrastructure upgrade, the lakeside city has seen increased investment in real estate sector. And just like the country’s capital, investors in Kisumu have embarked on erecting commercial buildings outside the city center for instance in areas like Awasi, Kibos, and Ahero.
While Milimani area was initially the center of attraction for many investors, the focus has now shifted to other areas like Riat where rental charges range between Sh35,000 to Sh60,000.
Apart from its high-end products, the coastal city of Mombasa has lately attracted investors who embarked on erecting middle and low-end residentials.
This is evident in areas like Nyali where investors are constructing units comprising of two- and three-bedroom apartments and selling at between Sh3 million and Sh10 million.
With its scenic landscape, wildlife parks and a lake popular with holidaymakers, the one-time dusty Rift Valley town has recently attracted property development making it one of the best areas to invest in.
“Land availability in Naivasha is beyond the development rate of the town, therefore, the area is a real estate hotspot,” states Lamudi, a Global property portal focusing on emerging markets.
With the remnants of Kenya’s white settlers having dictated the lifestyle in Nanyuki and its environs for a long time now, the area has attracted investment from millionaires who want to associate with the white man’s civility.
This is besides Laikipia possessing large conservancies such as Ol Pejeta, El Karama, Borana, and Lewa which define land use in the region.
Likewise, the Isiolo area still possesses available and cheaper trucks of land for potential development. This real estate appetite is flavored by the fact that the government is planning to put up big projects like an international airport in Isiolo.
The anticipation of government projects as well as private developments such us Isiolo Resort City saw land prices here surge in the in 2011. However, they remain relatively cheaper to date with a 50 by 100 feet plot going for at least Ksh500,000.
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- Green Park homes in Kilifi @ Ksh12M
- Intercity Properties in Kajiado @ Ksh1.895M
- Tinga Springs in Kajiado @ Ksh99,000
- Ruaka Ridge homes in Ruaka @ Ksh7.1M
- Grey Oak property in Nanyuki @ Ksh350,000
- Grey Oak property in Athi River @ Ksh450,000
- Blue Bells Apartment along Beijing Road @Ksh7.4M
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