Stalling property prices and the promise of falling interest rates is luring many investors back into the property market in Kenya. If you’re one of them and you’re considering a unit investment, we show you exactly what to look for. Apartments offer an affordable entry point into the property market, but there are “many critical factors to consider” before you take the plunge, says buyers agent Prit Shah.
Real estate investing is simple but that doesn't mean it is easy. The basics are really similar to real estate ownership in "Monopoly". You buy property, avoid bankruptcy, and make money from rent. You then use those profits to buy more property. When you invest in real estate, your goal is to put money to work today and make it grow so you have more money in the future. You have to make enough profit, or "return", to cover the risk you take, taxes you pay, and the costs of owning the real estate investment such as utilities and ...!--more-->
The Kenyan population constitutes a large and growing domestic consumer market of approximately 24 million people therefore holds a considerably holds a huge economical and development potential. Despite the high prices, a property bubble is not imminent in Kenya. Kenya has served as vital attractive investment location across Africa whereby real estate provides the perfect investment opportunities due to guaranteed and solid returns.
For many first time home buyers in Kenya, a house is more than a home. It is a long term financial investment therefore caution must be taken when buying a dream home. When buying a home, one must study the market, ask questions, hire professionals and most of all stay focused when evaluating the options that may be available.While some mistakes that are made may be innocent, the consequences may be dire and will sometimes last a lifetime. Here are some true ways you can avoid making mistakes when buying a home;
Property demand is still strong in the middle to high income segments of the real estate market. There is a wide range of activities across the real estate market and many developers has embarked on lavish property developments to attract the increasing demand. With the expansion of infrastructure across the country, many developments has been initiated especially along the busy Thika Road highway.The property market in Kenya potential for higher rates of return compared to other jurisdictions thus has seen many investors both domestic and international interested. The developed property markets across the globe such as Dubai and China ...!--more-->