Kenya Real Estate – An Investment Guide

Blog on April 12th, 2010 No Comments

Kenya, Africa is a beautiful tropical country with wide and rich cultural diversity and history. The Moorish and Swahili heritages have also played a key role in attracting visitors to the country. But that’s not all. The coastal regions and large natural reserves are also the other key factors for a booming tourism industry and now a on-the-verge-of-a-boom real estate industry. The most popular real estate investment hubs in Kenya include cities like Mombasa, the resorts located on the country’s Indian Ocean coastline from Lamu to Diani and others.

Factors Affecting Real Estate Investment in Kenya

  1. Political Stability – More and more property investors are seeking confidence from the recent change of political power in Kenya. Reaping rewards from this is the nation’s real estate industry. A stable government has prompted many buyers and investors from overseas to shop for a retirement home or a second home in Kenya.
  2. Economic Growth – The country’s economic fortunes are also showing positive signs of growth as more foreign investors pump in significant funds into its real estate market. While tourism industry is still the #1 revenue earner in the Kenya, the real estate sector is slowing reaching the #2 spot for contributing towards the growth of the nation’s economy. As real estate investment opportunities increase in Kenya, there are more jobs and business opportunities being created as well, lowering the unemployment rate.
  3. Investment incentives – Kenyan government is now giving investment incentives to everyone who wants to buy property in the country. These incentives include tax rebates among other things.
  4. Improving Infrastructure – Improving infrastructure is promoting real estate development. With better network of roads, improved air connectivity, and other infrastructural improvements, this seems to be the right time to invest in Kenya’s real estate industry.
  5. Beautiful Coastline – A beautiful coastline is a huge attraction for many who seek a second home or retirement home on the shores of the Indian Ocean. That is why Lamu, Diani and other towns are witnessing an increasing demand for residential real estate developments.
  6. Plenty of game reserves and attractions – As already mentioned Kenya’s natural wealth is vast and varied. From being home to some of the rarest of animal species to having one of the most precious bio-diverse environments in the world, Kenya is a beautiful and wonderful country to visit, stay, and experience every day.
  7. Low Property Prices – Since the property sector in Kenya is an emerging market, a smart investor or buyer can actually buy good properties at low prices. Also, since the cost of labor in Kenya is cheap, the price of properties is not high.
  8. Good rental market – With an influx of tourists since 2004, the demand for rental properties is sky-rocketing. Buying a well-located property and renting it during peak tourist season is truly the best money earning tactic ever!

All in all, it can be said that the future prospects for Kenya real estate are promising and there are many investment opportunities in the country today.

Beautiful Properties in Westlands and Lavington For Sale

Blog on May 28th, 2009 No Comments

Connaught Apartments
These apartments are located in Westlands very near the shopping centre. The apartment for sale in this complex is a three bedroomed apartment on the fourth floor. The apartments are served by two high-speed lifts. The complex has a swimming pool and facilities for sauna and steam. A gymnasium is being equipped and will be operational soon.

Price: KES 14,000,000/=

Lantana Apartments This is a new development of apartments in Lavington sold individually but managed as serviced apartments. The apartments are three-bedroomed and are fully furnished and serviced fetching an average monthly rent of Shs 150,000/= per month. The complex has a borehole and swimming pool, gym and sauna.

ALSO AVAILABLE TO LET: Shs 150,000/= per month – 3-bedrooms
Shs 110,000/= per month – 2-bedrooms

Price: KES 16,000,000/=

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Real Estate in Kenya

Blog on September 2nd, 2008 No Comments

For most people who wish to rent property overseas, language problem is a major difficulty, followed by non-evaluation of market conditions, and no access to details of the overseas deal. So to get the property overseas, a lot of research and analysis is required before banking on one project. The services of a broker or any other agent will be very beneficial here. Even a reputed Real Estate firm will help solve all your difficulties and guide you in the selection process of the best deal available. Some helpful points:

1. If you are considering a property for letting out, select a rectangular or a square room, since other shapes make the room look much smaller. A good living room is what tenants usually look for, even if it means a marginally smaller bedroom.

2. Selecting the right agent or a Real Estate firm is the key here. If you consider an agent who has a lot of contacts and a great presence in the field, he will give you the best returns. You can also look out the newspapers for a list of prospective tenants. If the letting out is for holiday purposes, make sure that the agent has an attractive website to get the tourists’ attention.

3. Never underestimate the importance of interior designing. A tenant can make up his mind to opt for the property just by merely looking at what lies inside the house. In fact, a good interior design can fetch high rentals. Most promoters overlook the interior designing bit. You can very well go for a proper interior designer to give the house the look that you want, or a look that would attract people. A 3-piece suite should be selected. Besides, comfortable larger suites should also be preferred. But don’t overdo it to such an extent that it looks fake. Also, stay miles away from narrow or low-back sofas since they are pretty uncomfortable. Once this is taken care of, click great pictures for uploading on the website. This will give your property an edge over others.

4. For getting still higher rent, investment in parking space would be a very good idea, mainly in huge cities. But be cautious about this aspect as parking may not be such an attractive option as far as holiday resorts are concerned. But for long-term tenants, a parking space is always welcome as it reduces the burden of parking.

5. When buying a property overseas, make sure not to buy from a site meant exclusively for professionals owning more than 25 units. If there are many vacant units, there will be a huge increase in supply which will invariably bring down the rental that you would like to ask for. The Irish investors, who have properties held in Spain, are experiencing difficulties for such things as no company would actively participate in letting out since the owners do not reside in that country.

Real Estate in Kenya – How we can help you

Terra Firma is actively involved in selling, letting, and management of residential apartments in Kenya, especially Nairobi.  Over the years, there has been a great deal of change in the demand, prices and marketing of properties and Terra Firma has been in the middle of this development.
In recognition that ours is a service industry, we take pride in knowing our product and offering a complete service. The interests of our clients are paramount.
Whether you wish to buy, rent or sell a property or have your property managed completely in Kenya, Terra Firma can provide you with personal and top quality professional service.

Contact us today!

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The autor of the words in italics is the director of Dubai Marina Property & Marina Real Estate for Sale , Karachi Real Estate & Property Pakistan Properties , Dubai Estate Agents & Brokers Properties and Dubai Property Developments & UAE & Dubai Real Estate Projects .