Best Places to Invest in Real Estate in Nairobi Kenya
Investment in real estate is not just a mere investment, rather it is about all the accumulation of assets that can be appreciative, in terms of security and profits. Having noted that, it is a whole decision to invest in real estate industry in Kenya and this equits to the choice of the place you do it. Depending on your purpose of investment, it is easier to look for a prime part of investment or somewhere with ability to grow and be productive in your estimation of your future. As discussed in our previous blogs, location is paramount in the industry and will determine a lot your direction of investment. There are areas that are grown in Kenya and others have the potential of growing too. Here are some of the places that would see you reap up to double profits in Nairobi, Kenya. They are among the fastest growing places in reference to property market. They are well eye catching places for developers and there before hot spots for real estate investors, both new investors and already experienced investors.
Areas surrounding Nairobi have been fast growing in relation to real estate industry. Land availability as well as reasonable prices have been the deal of the day in such places. Accessibility to utilities and other services are also represented in such areas. People settle in these places and go to work in town. It is easier to commute daily and their type of housing and accommodate their families too. Such places include; Juja, Ruiru, Kitngela, Syokimau, Kikuyu and Kiserian. Evidence by hassconsult has shown that it is way better in investment of property in such areas than investment towards treasury bills and bonds. These areas had an influx of developers. In addition to having access to amenities, they are also areas with security services which even makes it easier for people to settle. Some of the purposes of buying land and property in such areas include: buying to settle, buying to hold up for a few months then resale, buying to build and rent out. It should be notable to those who buy to rent out that there is consideration of transportation means and costs for their clients because it is hard to construct with the notion of everyone will drive to work.
Housing is one of the basic human needs. Areas in Nairobi suburbs serve as perfect examples of where to start up life especially for the young youths who are starting up their career path (Cytonn). Such areas are characterized by tall apartments, high population and minimum zoning regulations. This therefore involves attracting many investors as they would like to house such population.
In conclusion, regardless of how the prime an area is, it is important to note that these are some of the minimal factors to consider while entering into property market;
How easy is it to commute from your area of work to your area you reside?
How will future expansion affect your living? (In case of any adjustments)
Is it a secure place?
How far are social amenities to you?
If these areas go well with you, that would be an ideal place for your living.