According to analysts, Kenya has become a vast market for investors both in and out of the country. For this reason, there you will see both local and foreign investors showing interest in multiple industries and fields in the country. Real estate market is one of the sectors that both domestic and international investors have shown the most interest in. Every day, there are buying a rental property, buying land, and buying rental property. So, what does this mean for the Analysis of the Kenyan Land Market 2019?
Last year, the government announced its plan to build five hundred thousand houses for homeless Kenyan citizens within the next five years. The government, under the ministry of housing and urban development, said that these houses would be build using a high construction technology and one that would ensure the houses build are low cost and build within the shortest time possible. This was commented as a good plan since it will favour those at the low end who are often ignored by private developers.
2019 is the first among the five years. Unfortunately, the year did not start at such a high tone following the last year general elections. However, according to research, it is possible to achieve this goal thus significantly improving the land market. There are the predicted trends that are expected to impact the real estate world in a significant way this year. Some of these include:
The block chain is one of the most recent technologies that have drawn interest from entrepreneurs, individuals, government, and corporate. It has also attracted attention in all areas of the industry, making more people invest in it. The block chain is expected to move towards maturity and away from speculation. This will lead to more beneficial and revolutionary applications in the real estate field thus improving the land market this year.
Being the year after a general election in the country, the manufacturing sector, like other sectors is experiencing a bump. For this reason, it is expected that more people will move into residential properties this year as opposed to the number of people building their own homes. The rents, especially for the upper class is expected to rise drastically. Foreigners and expatriates may consider moving to Kenya and take advantage of this fact. However, locals too are expected to have a higher income which will enable them to cope with the high rents.
Land and real estate marketing are one of the rapidly evolving sectors in the country. In 2019, this trend is expected to continue. The changes in the land market may make it hard, or more comfortable for the government to achieve its goals of providing quality houses to the Kenyan citizens. Consider the information above to have insights on some of the expected trends in Kenyan land market in the year 2019 and learn how to identify cheap land for sale in Kenya that you can acquire.