Unlocking Wealth: Why Investing in Kenyan Land Amidst a Weakening Shilling is a Smart Move for Kenyans in The Diaspora

In the dynamic landscape of global economics, opportunities arise in the midst of challenges. For Kenyans living in the Diaspora, the weakening of the Kenyan shilling in 2023 may seem concerning, but it also unveils a unique prospect for wealth creation. This blog explores why investing in Kenyan land and investing in real estate in Kenya from abroad amid a weakening shilling is a smart move for Kenyans in the Diaspora.

 The Kenyan Shilling in 2023

Understanding the factors behind the weakening Kenyan shilling is crucial for making informed investment decisions. In 2023, several economic challenges have contributed to the depreciation of the shilling. From inflationary pressures to trade imbalances, the currency’s value has seen fluctuations. Comparing the value of the Kenyan shilling from 2022 to December 2023 provides insights into the extent of the currency’s decline, For instance in 2022, the exchange rate between the Kenyan Shilling (KES) and the US Dollar (USD) experienced a relatively stable period averaging at KShs 117.95 , with the Kenyan currency maintaining a certain level of strength against the US Dollar. However, starting this year, the exchange rate has witnessed fluctuations, and the Kenyan Shilling has experienced a weakening trend against the US Dollar and is now averaging at KShs 153.

 Buying Land as a Smart Investment for Kenyans Abroad

Amidst the economic uncertainties, investing in land emerges as a compelling option. The question arises: Is buying land a good investment in Kenya for Kenyans in the Diaspora, especially with the Kenyan currency weakening? The answer lies in the advantageous exchange rates for Kenyans abroad. A weakening currency makes the exchange rate more favorable, empowering those in the Diaspora to make sound real estate investments.

 When considering investments, it’s essential to weigh the pros and cons of buying land. Unlike volatile financial instruments, land tends to be a stable and appreciating asset over time. As other investment options may be subject to market fluctuations, land offers a tangible and lasting value. 

Investing in Real Estate in Kenya from Abroad

For Kenyans living abroad, investing in real estate in Kenya requires a strategic approach. The process involves navigating legalities, understanding the market, and overcoming potential challenges. Considering that Kenyans in the Diaspora reside in various countries, understanding the real estate landscape in Kenya is crucial.

 Major countries where Kenyans abroad live, such as the United States, the United Kingdom, Australia and Canada, have varying real estate regulations and investment climates and these factors might misguide a Kenyan living Abroad on land buying decisions in Kenya. For example, did you know to build a house or a building in Kenya one is required to have the following; . 

•  NEMA Construction Approval/EIA License 
•  NCA Project Registration
• Structural Plan Approval 
• Architectural Plan Approval

Researching and understanding these differences can empower investors to make informed decisions. The goal is to bridge the geographical gap and make investing in Kenyan real estate seamless for those living abroad.

 The Process of Buying Land in Kenya

Buying land in Kenya from abroad involves a systematic process. Kenyans in the Diaspora should follow a step-by-step guide to ensure a smooth and successful transaction. Legal and financial considerations play a significant role in foreign investments.

 Understanding the local laws and regulations related to land ownership in the local county government you intend to purchase land is crucial. Seeking professional advice from legal experts with knowledge of both Kenyan and international laws can help navigate potential pitfalls. Additionally, financial planning is essential, considering exchange rates, stamp duty, land rates,City council leases, taxes, and any associated costs.

 While the process may seem complex, overcoming hurdles is part of the journey. With the right guidance, Kenyans in the Diaspora can confidently navigate the intricacies of buying land in Kenya.

Why you should choose Denver Group to assist you purchase a plot in Kenya

Denver Group stands out as a beacon of reliability and excellence in the real estate landscape of Nairobi, offering a golden opportunity for Kenyans in the diaspora to secure prime plots for sale. What sets us apart is our unwavering commitment to providing a seamless and advantageous experience for our clients. As the recipient of the prestigious Best Land Selling Company award at the Real Estate Awards 2023, we take pride in our dedication to excellence. At Denver Group, we understand the unique needs of Kenyans abroad, and to address those needs, we provide ready title deeds, ensuring a hassle-free transfer of ownership. Moreover, our clients benefit from a remarkable 5% discount on their plot purchases, making their investment even more lucrative. Recognizing the importance of flexibility, we offer tailored payment plans that accommodate various financial situations. Denver Group isn’t just a real estate company; we are your trusted partner, ensuring that your dream of owning a plot in Nairobi becomes a reality with unparalleled advantages.

 View Denver Groups catalog (Pata Ploti na Bei Poa)  

Making Money with Land in Kenya

Investing in land is not just about ownership; it’s about unlocking its potential for income generation. Kenyans in the Diaspora can explore various avenues to make money with their land investments. Rental opportunities, development projects, and agriculture are some of the avenues to consider.

 Renting out land for agricultural purposes can provide a steady income stream. Alternatively, participating in or investing in real estate in Kenya from abroad and other development projects, such as residential or commercial properties, can yield substantial returns. Understanding the local market demand and trends is key to making strategic decisions that maximize returns. Other avenues an individual living abroad can benefit from owning land in Kenya include;

• Leasing land 
• Using the land as an event venue
• Using the land as a camping site
• Using the land for timber business
• Parking lot
• Market Spaces
• Storage Facility
• Drill a well

Advantages of Investing in Kenyan Land in 2023

Despite the challenges posed by the weakening Kenyan shilling, there are notable advantages for Kenyans in the Diaspora investing in land in 2023. One significant advantage is the potential appreciation of land value over time. Real estate has historically shown resilience, and investing during a period of currency depreciation can position investors for substantial returns in the long run. Investing in real estate in Kenya from Abroad is an idea every Kenyan in the Diaspora should think about, Moreover, economic and personal benefits accompany land investments. From contributing to the development of the homeland to creating a legacy for future generations, the advantages extend beyond financial gains. Kenyans in the Diaspora have the opportunity to be part of the nation’s growth while securing their financial future.

 Conclusion

In conclusion, unlocking wealth through investing in Kenyan land amidst a weakening shilling is a strategic move for Kenyans in the Diaspora. By understanding the economic landscape, embracing the advantages of a favorable exchange rate, and navigating the investment process diligently, Kenyans abroad can position themselves for long-term financial success. Investing in the homeland goes beyond financial gains; it’s a meaningful contribution to the growth and prosperity of Kenya.

 As opportunities arise in times of economic challenges, the decision to invest in Kenyan land becomes not only financially sound but also a testament to the resilience and foresight of the Diaspora. In the face of a weakening shilling, the potential for unlocking wealth through land investments remains promising for those who dare to seize it