Kenya has quite a robust property market with the highest industry activity being seen in Nairobi and the suburbs. There is a different trend emerging in the industry which has seen a lot of diversification in investment. The recent trend has been the investment on the furnished and serviced apartments.
As rents soar and the supply of rental housing remains constrained, 2015 could be the tipping point, pushing more renters to home ownership. While younger Kenyans may prefer the flexibility of renting, home ownership is becoming more enticing, financially. The mortgage market is broader and offers competitive products thus encouraging most first time home buyers. Mortgage rates are still very attractive, and renting is just plain more expensive than owning in many metropolitan markets.
Real estate investing involves the purchase, ownership, management, rental and/or sale of real estate for profit. One of the best ways to invest your money is to buy a property either commercial or residential for rentals. Unlike investing in bank property in other countries, there is a lot of profit to be made in Kenyan real estate market.
Now is a great time to purchase real estate! Let's face it; we are now living in a buyers market. With more and more properties on the Kenyan real estate market, sellers are facing some stiff competition, and are being forced to lower their prices in order to contend with other hungry sellers. This leaves ambitious buyers with a great opportunity, however, while timing could not be more perfect to buy your first piece of real estate, it is vital to know what kind of property is going to best maximize your profits. After all, the goal of investing ...
Kenya is a prime real estate investment location for foreigners. Key investments for foreign investors are usually holiday homes, hotels, farms, ranches and conservation centres, houses and office parks. Foreigners employed in Kenya often wish to own homes and office space.
When engaging in these investments, familiarity with basic legal provisions in respect of foreigners and property ownership in Kenya is imperative. This helps avoid unnecessary legal battles, partnerships and worries.
Can foreigners own property in Kenya?
Foreigners can own property in Kenya in their name. The Constitution (2010), the Lands Act (6/2012) and the Land Registration Act (3 ...