In Kenya, the wealthy population is reported to be growing. Among these are young millionaires in the country, whose majority are turning their wealth into solid by investing. Property investment has hence gained popularity as it promises more yields and security to the person’s future financial state.
But how exactly do you stand out from the rest and make the most profit? Having in mind that real estate is a very profitable but risky game, you ought to master the art of real estate and the forces that come with it. Owning a piece of land or a house in the name of investment is not always a guarantee for high investment returns. But once you understand the role of location in your investment, you decide to make high returns.
Great investors can spot potential hot investment areas that are yet to develop. That is how they get to buy a piece of land at a low price and in a matter of a few years, they get high returns having sold the land at twice or thrice the price.
In Kenya, some of these areas are Ngong town and Kangundo road. If you are still trying to figure out an area to invest in, these two areas are the best location for an investment right now in Kenya. The following are some of the reasons these areas should be your priority locations for investment;
Ngong is said to be the next bedroom for Nairobi City dwellers. It is located only 30 kilometres from Nairobi CBD, this being a great convenience for those working in the city. This has seen Ngong grow rapidly in the last decade, increasing the prices of properties in this area.
Also, the recent developments in the town have greatly affected the prices of properties. The tarmacking of Ngong-Kibiko subway Road has made the area a great target for both residential and commercial development. The land pieces that were going for Ksh 500,000 are now going Ksh 1000,000, a double price of the initial prices. It’s expected for the price to go even further in the coming years.
Another reason for the spike of the prices in this area is the availability of developed means to get to the area. A location you could use 2 hours to access now can be accessed within 30 minutes. Better, the expansion of Ngong road from Nairobi is expected to ease the traffic on this road.
With the completion of the Standard Gauge Railway and the Ngong, SGR Station has created more doors for investors in this area.
Some of the other advantages of investing in this area are the Ngong Hills that is popularly known for its perfect destination for hiking away from the city noise, pollution and traffic. Also, its accessibility to building materials in close by quarries making it easy to engage in construction.
Ngong’s land rate of appreciation has been reported to be at 12.9% which is high compared to other areas.
This is yet another hot area for investment is influenced by its location. Kangundo road has gained popularity among Kenyans for its prime lands that are being sold by Fanaka Real estate. Its proximity to Nairobi CBD is one of the factors drawing many investors into the area.
The area benefits from improved transport and active businesses that have been operating after the initiation of its development. As more Kenyans are running from the congested city of Nairobi, Kangundo road has been a top choice for many. The road is also going under expansion to support dual carriage. This has increased the value of land in the area, affecting the prices. A piece of land that was going for Ksh 200,000 is now going for Ksh 500, 000 and will further as more developments are completed in the area.
Kangundo road and its environs are expected to constantly develop as more money is being poured by the county government to support infrastructure development, attracting more investors into the area.
As the prices of properties in Ngong and Kangundo road are rising, the properties are still affordable, basing it on the future. Investment in these locations could be the best decision you will ever make in the next years of your investment.