Women in Real Estate: Breaking Stereotypes

Traditionally considered a male-dominated sphere, more women are now venturing into the real estate sector in Kenya, leveraging their growing affluence and business opportunities.

Lydia’s Journey: From Campus to Real Estate Entrepreneurship

Lydia’s entrepreneurial journey began in school, where she sold second-hand clothes to her classmates. Over the years, she diversified her ventures and eventually entered the real estate market, co-founding a successful group with friends.

The Power of Chama: A Collaborative Approach

Lydia and her friends formed a Chama, pooling resources for real estate investment. They engaged in buying, selling, and developing properties in key Kenyan cities, demonstrating the potential for significant returns.

Viability Study: Key to Successful Real Estate Ventures

Emmah Miloyo, a real estate expert, emphasizes treating real estate as a business venture. A thorough viability study, understanding the location, and having the resilience for the industry are crucial factors for success.

Considerations When Buying Property

For those considering property investment, factors such as efficiency, location, and property type are critical. Understanding the demand and supply dynamics, as well as the needs of the target market, is essential.

Challenges in Real Estate Investment

  • Economic Downturn: The current economic conditions have impacted the real estate sector, necessitating a shift in strategies.
  • High-Interest Rates: Acquiring loans or mortgages comes with high interest rates, often favoring high-end individuals.
  • Not a One-Size-Fits-All Decision: Real estate investment is a personal choice, not suitable for everyone, as individual preferences differ.
  • Extra Costs: Buying property increases everyday costs, with additional expenses for amenities like internet connections.

7. Passion and Satisfaction in Real Estate Investment

Despite the challenges, real estate investment, whether for resale or personal use, can be deeply satisfying. Passion and contentment play a crucial role in making this significant decision.