5 Areas in Kenya with Affordable Properties
Kenya is a country where most of her population are low or middle-income citizens. The informal businesses in Kenya have the highest population of the country, including the “ Wanjiru” who sell tomatoes and vegetables to the locals and the young man who cleans your car. All these individuals are among those looking for affordable investments opportunities. 5 Areas in Kenya with Affordable Properties
Even though there has been a rising number of the wealthy in Kenya, there is still a huge difference between the rich and middle class. With this in mind, most middle-income people are not lucky enough to get properties that can suit their pockets hence end up renting for the rest of their lives. This is due to the oversupply of high-end properties that are not affordable to them. Most of these people never get to invest in property. 5 Areas in Kenya with Affordable Properties
One of the factors that influence the price of a property is its location. Some of the properties in the prime areas are highly-priced because of their location. The land value in these areas is very high leading to the high cost of the properties. This means that properties that are in locations that are still developing could be affordable. 5 Areas in Kenya with Affordable Properties
The following are some of the top 5 affordable locations in Kenya that young people can get properties to invest in :
This area is popularly known as the new home of the national project that is under vision 2030. This project is expected to launch the country to middle-income status by 2030. Investors have already started to eye the market of this area as South Korea has invested 10bn into a project that is set to hold first Kenya university that focuses on only information Technology.
More infrastructures have been developed in the area as the 300bn project collecting Nairobi and Mombasa passes through the city. This is one of the factors that are leading to the fast growth of the area.
Surprisingly, the area has very affordable land that one could invest in with some selling for as low as Ksh 200,000. This is a very good opportunity to invest in the area as further developments will lead to a spike in these prices. I can assure you ten years from now any investor who takes this opportunity will be enjoying high investment returns.
2. Kangundo road
Located in Machakos county, Kangundo road is gradually growing due to the construction of the great Eastern bypass. This has influenced its neighbours to develop an interest in the real estate industry.
The completion of the dual-carrier of the outer ring road has helped in controlling traffic on the Kangundo road and even Nairobi city. This has attracted a lot of people to the area, leading to an increase in the land prices in the area.
However, pieces of land are still affordable as the prices have risen by 8.54%. Today, you still get a piece of land with as low as ksh400,000. In the next few years, the area will have greatly developed, increasing the land value of properties within.
Located just after Ongata Rongai and Kiserian town, Tinga is close to the city approximately 65 kilometres away. This area is a potential investment location as the great southern bypass is expected to pass through it.
The area also has amenities such as modern schools, hospitals, water, electricity among otters making it suitable for commercial and residential purposes.
The area is very affordable with land going for as low as 200,000. With the future developments of the area in mind, this is a great chance to invest in the area.
Located in Machakos, this area is one of the largest urban centres of the county. The area is currently undergoing infrastructure growth due to the completion of the tarmacking of Kivandini – Masinga Road. The area also has an upcoming factory intended to manufacture cement.
The area is widely known for its agricultural productions hence being a great economic hub for the Machakos county. The properties in this area are very affordable going for as low as Ksh 200,000. This area promises high investment returns for both commercial and residential investment.
In recent years, there has been an increased demand for land in this area, which has led to a rise in the land value. Investing here is a wise idea especially for young people.
Nakuru has an average of 6.1% rental yield, 8.8 % capital appreciation, making a total of 14.9% return. Located in central Kenya, Nakuru is the fourth largest town of Kenya. High economic growth, infrastructure development, devolution are some of the factors that have led to the development of the town. This town is the fastest growing town in East and Central Africa according to a report by the United Nations.
The town also owns a land strip that is currently under development, promising a good marker for the real estate investors.
Despite the attractiveness of the town, it has affordable land going for as low as 300,000. Considering its fast growth, this area is suitable for property investment, guaranteeing you the high investment returns you are looking for.