Property Prices and Buying Property in Kenya
Days are gone when investors used to flood cities and the already developed areas. Real estate investors are moving to far-flung areas where land is readily available and cheap. This is because the property value in areas close to the city has been rapidly increasing.
In this article, we shall discuss why real estate investors, housing companies, and individuals are leaving town for these places.
Property market experts are saying that the City has been left only to the super-rich while the middle-income earners are moving to areas far from town. Most of them prefer to commute to the city daily for work, which is cheaper than staying in the city.
Among the areas that have registered a high number of real estate investors are Joska, Kamulu, and Ruai along Kangundo in the eastern part of Nairobi. The investors and individuals are purchasing large portions of land in these areas that nobody thought of moving to several years ago.
Most people who want to invest in land are no longer looking at distance. Their main focus is accessibility and affordability. The government has done infrastructural development in all these areas and you do not have to worry about being stuck. The main and feeder roads are tarmacked; thus, you will get to your home easily.
The need for farming is another reason why real estate investors and individuals are moving to areas along Kangundo road. The land is ideal and fertile for farming; thus, increasing the chances of the investors to sell huge chunks of land to anyone who wants to venture into farming. Many people in the area are also into cattle farming and this explains why there is a slaughterhouse along Kangundo road.
Education institutions have also shot up in those areas. A good example of the institutions is IDS college and the Skills Center Vocational Training School. This makes it possible and easy for clients with school-going children to purchase land in these areas easily. The schools are also affordable unlike in the City where they are expensive.
When it comes to land development there are many construction restrictions in the city unlike in far-flung areas. This means you do not have to worry about listing your property. Additionally, in case you want to extend your land, you will have many options. This is not the case in the city where you might be limited.
Areas that are far from the city are also enjoying better opportunities more so in business. This is because the cost of setting up a business in the area is low, especially rental expenses. There are many businesses that have been established in Ruai, Kamulu, and Joska more so the ones related to construction.
The increasing value of properties in urban areas has led to the movement of investors to areas that are far from Nairobi city. Also, the development of infrastructure in the areas is another factor that is causing the movement of both individuals and real estate investors. The availability and affordability of the huge lands are also contributing factors to the movement.
Get in touch with Denver Real Estate and get Joska plots for Sale for an affordable price. + 254 701 730 267 or WhatsApp us https://wa.link/vj06br.