Real estate in Kenya has been fluctuating due to the economic changes in the political sector. In the last two years, reduced cash liquidity has greatly reduced the number of internal and external investors in the country. Most sectors in the economy have been affected including transport industry, tourism industry, agriculture industry, exports and imports. Real estate, however, has been consistent on being one of the sectors where the numbers do not go down the investment chart. In real estate, the numbers could go up slowly or faster depending on the economy but will not go down. This is one of the Key reasons why, you should invest in the real estate in Kenya. Now that you want to invest in real estate, how will you go about it?
1) Seek professional help
You should be carefully when investing in real estate in Kenya. It is a very intricate process given the numerous procedures involved before and after the purchase. This is why we advise you to consult professionals like Home Afrika. We are one of the listed real estate agencies in Kenya with years of experience. This has given us technical know-how on what, when and where to invest in Kenya. Take advantage of this by visiting our offices and you will not be disappointed.
2) Land Ownership
Of all the real estate sectors, land ownership is one of the commodities where you have a guarantee that your property value will never depreciate. Sometimes owning a building may have its own disadvantages where the property will age or become obsolete due to technology change. Land, however, is not affected by these elements making it the best-investment decision there is. We have this in mind and we have strategically located land investment options just tailored for you. Click on this to visit some of our property listings online.
3. Invest in Low-cost housing
If you’re a homeowner and you have the cash, then I would advise that you get the high-end properties. These properties have more amenities and location convenience.
If you’re in the real estate market for investment, then I would advise you to pick the low-cost housing. According to most real estate reports, there has been an oversupply of the high-end housing compared to the demand. This has resulted in property rental being low priced to accommodate the other part of the community. Reduced prices have resulted in a lower return of investment. If you want to maximize your investment, pick the low-cost housing. To see more of the property available in the market, see our website property listing.
4. Conduct Due diligence
You need to be educated when investing in real estate. Do your due diligence when buying a property because, on the side of the law, ignorance is never an excuse. There are many instances where people have gone to new real estate companies and realtors that are cropping up, bought land and later had the titles revoked. This happens when you do not do your due diligence.
You need to consult your lawyers to assist in checking the land history and who is the current owner. You need to confirm that the land was bought from the legit owner and that the title is authentic. You can check some of these details from the lands office.
Well, to say the truth, doing some of this tasks can be tedious and take the fun out of real estate investing in Kenya. Well, there is an easy way out of this, and I will share the trick.
When buying land
- It is safer to buy from an organizations than buying from an individual
- It is better to buy from companies which have done and have complete projects
- Buy from reputable organizations especially those approved by the public and listed in the NSE
Buying from a company like Home Afrika ensures that you are covered on due diligence. Well, now you all informed and I will wish you, happy real estate investing in 2019.