As the Kenyan Economy and population grows, so does the demand for land and housing.
The housing market is a total mess, with a small 3 bedroom house ranging from 5.5m to 10 m around the Nairobi Metropolis. According to Amcco Properties Limited, the best option for most investors is to buy a Plot and build. This saves you more than 50%, compared to buying a ready house.
Access to Mortgage facilities is also a challenge. Most Banks in Kenya prefer to Loan only clients with a banking of their employers. Meaning most business people cannot qualify for the mortgages.
Furthermore, in the International Markets, Interest rates for mortgages range between 1% to 5%. However, in Kenya the rates currently start @15%.
Did You Know if you buy a prime residential Plot for 799,000/= in Thigio or 650,000 in Kamangu, you can spend as little as 1.5m to build a residential home?
Plots along Dagoretti road are idea for immediate development. The area has benefited from Infrastructure developments and access to water plus electricity. The area has close proximity to Mai Mahiu, where 80% of construction materials are sourced.
Rent is another worry for most Kenyans leaving within Nairobi, with many people having to part with huge share of their income to pay rent.
Having your own home is a sure bet in living a comfortable life It will all start with the correct decision of buying a residential plot where one can build immediately.
In Conclusion, Amcco Properties advises that Plots along Dagoretti Road, that is Gikambura, Kamangu and Thigio are the best in terms of investment around the Nairobi Metropolis
Take Advantage now, Land is a scarce commodity and Nairobi has proven time and time again, that prices will always go up!
