Sunday, April 01, 2007

What Real Estate Boom in Kenya?

Did you know that since 2002 Kenya has been experiencing rapid growth in its real estate sector? Well, from what I have been able to gather it started with the change that occurred in the country's governance at that time. From then tourism went on a steady rise. And with the rise in Kenya's tourism cam the rise in various real estate opportunities. Some of the most rewarding have been found along the Indian Ocean shorelines in the form of beach front property. There are other fundamentals that add to Kenya's real estate boom. One being the Kenya Diaspora investment movement. It has been driving still further growth in the country's real estate market, with many expatriates sending hundred of dollars home each month over several years to build that dream house to one day call home. Of course during the wait, I am hearing many friends talking of building steady rental income during the interim. Then there is also the benefit of being east Africa's top business destination. This has helped in the way of attracting corporate regional headquarters onto Kenyan soil, in turn fueling more real estate growth.

While I was searching for information on this topic there was a blog conversation that I came across on Business Week's blog. Several readers from Kenya commented in a post discussing real estate investment clubs that it would be great if someone in Kenya could teach them how to do real estate investing in Kenya.

Here's the comment that followed:

"...We are a Kenyan registered architectural consulting and construction project management firm. We assist in investing in real estate projects in Kenya.We would like to hear from interested persons .Thanks..."
quote appears courtesy of:Business Week Online

The gentleman who wrote that comment on Business Week Online is called Francis Kamau, though his website focuses primarily on the architectural aspect of real estate in Kenya, I found it very interesting. The pictures were also quite captivating. In fact, here is one of them, so that you may see for yourself.
photo courtesy of: Architect Kenya

Also here is an informative and educational link on investing in Kenyan real estate. To summarize it a bit, it talks about the pros and cons of investing in Kenyan real estate. It also mentions some of the key categories of professionals that one considering investment there should consult. All in all, I found it a good read and would recommend it to anyone wishing to study this topic further.

Otherwise, this concludes our Real Estate Investment in Africa series and now we shall focus this month of April on providing commentary on business news coming out of the African regions-so please stay tuned...


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8 comments:

Anonymous said...

An interesting page on www.property.co.ke which deals with mortgage financing for real estate investment for properties for sale in kenya.

http://www.property.co.ke/index.php?option=com_content&task=view&id=17&Itemid=38

Benin "Mwangi" said...

Anaon, quite a resourceful page indeed. It is essentially a one stop shop for housing and real estate in Kenya, Thanks so much!!!

Are you a real estate professional in Kenya? Just curious...

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Anonymous said...

the page on mortgages in kenya on property.co.ke can now be found at the following url:

http://www.property.co.ke/buy-a-house-in-kenya/kenya-home-buyer-guide/get-a-mortgage/

if you are looking to buy a house or apartment in nairobi or anywhere else in kenya, you can search for a mortgage financier here.

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Mc said...

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