Investment Guide In Kenya
Kenya has been in the Global limelight as a favourable investment destination. It has experienced its share of good performance over time, contributing to 7.85% and 8.12 % of the GDP for the last three years according to the Central Bank of Kenya economic review (2015)
The Nairobi traffic jam! Don’t we all hate it? Developers are avoiding areas with a lot of traffic for other parts of the city. Kenneth Kaniu, Britam CEO spoke during the launch of the firm’s Nairobi Office Market report “The traffic continues to be very challenging where getting in and out is not easy so as a result, many new tenants who are coming on board including multinational companies are opting for other areas.”
Land prices in Kenya as a whole have in the past few years been going through the roof. We do not have control over this. It is unfortunate that this fast growing economy has some of the most expensive lands with not enough natural resources we can rely on.
Places not too far from the city where most people report to bake bread every day, continue to develop at a fast rate and are the best to invest in. Ngong, Rongai, Kitengela, Athi River are areas of about the same proximity providing a living for people without having them pass by the CBD. This is because they already have the amenities within their reach.
Investing in property in these areas right now is important for development purposes or even for appreciation in the future. A big number of investments will sprout left, right and centre. The best way forward is to do your research on the potential areas, gather a few friends interested in investing and plan on how to develop it.
‘Now is the new later’ they say. The worst thing about putting off such actions for a later time is that the value of the property will definitely rise very fast. Land especially is well known for this and the regulators don’t seem to be doing their part, at least not so well. It is, therefore, better to invest right now with the assurance that the future will be great.
People are buying land in the interior parts of areas like Kitengela and Ngong. Kenyans are not afraid of devolution anymore, making these areas work for them as opposed to finding smaller places which are crowded with minute structures spending too much. The ‘rural’ areas are actually very refreshing with beautiful scenes and there is more space to play around with the structures. Not forgetting that these areas are cheaper compared to areas closer to the CBD. Today, you can get land being sold for as low as Sh 200,000 million.
In 2013 when devolution kicked in, everyone rushed to Machakos trying to be part of the overhaul that was happening. Is that not what should happen throughout the country? Trying to even out every other part of the country as much as it sounds too ambitious. One major step to take is to avoid buying property hoping to sell it later to make more profit. Instead, invest in the property which will automatically make you what you want.??
The forested areas will be cleared soon enough and something will be put up as you watch. It’s all about investing in time hence the need to be on the lookout for what is happening. There is not going to be a perfect time. A time such as this next year, the place you keep thinking about will be untouchable. Mainly because of the developments which will be up and the number of people who will be living around the same area.
Investing in property in these areas right now is important for development purposes or even for appreciation in the future.
From observation, Ngong is my best pick!
BY JOYCE MBAIRE
JUMIA HOUSE
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