The State has sealed a legal loophole that risked blocking investors from phased development of high-rise buildings on parcels of land where some complete units had been sold and titles transferred to owners. A newly published policy by the Lands and Physical Planning ministry will see the Sectional Properties Act 2020 amended to allow for a phased and mixed development of properties. “Increasinglythere is a need by developers to develop their pieces of land in phases. If the land is under one title it presents a problem under Sectional Properties Act since the head title cannot be surrendered until the entire land has been developed,” the policy says. “There is, therefore, need to ensure that the land can be subdivided into phases to allow for separate head titles to be surrendered and thus allow for the application of Sectional Properties Act.” Under the current law, once a title is committed to sectional properties, the original owner ceases to enjoy any reversionary rights which, after registration of sectional units, are enjoyed by the individual unit owners. “In areas of mixed-use development, there is need for a mechanism of maintaining minimum economically viable parcel sizes concurrently with the ability to grant individual…

Falling apartment prices in Kilimani and Kileleshwa weighed down the Nairobi property market into negative price growth in the 12 months to June, dampening hopes of a recovery in the sector hit hard by the Covid pandemic. A survey by realtors HassConsult found that on average, houses in Nairobi recorded a 1.7 percent price drop in the period, with oversupply causing apartment prices to fall especially in the upper middle class localities. Affordability is also an issue due to the massive job losses and pay cuts experienced by many Kenyans in the past 15 months. Business performance has also been negatively affected by the pandemic, thus robbing developers many would be buyers who are instead looking to conserve cash due to the uncertain times. “The property market is experiencing static sales price performance driven by the oversupplied apartment market in Kilimani and Kileleshwa, down 9.5 percent and 6.9 percent respectively in the last year,” said HassConsult. Apartments on average recorded a 5.8 percent drop in price during the period, far ahead of detached houses whose prices dropped by 1.7 percent, and semi-detached units whose prices went up by 0.7 percent on average. While prices remained in the red, rents continued…

Real estate prices are really soaring at an unprecedented level today, but this doesn’t mean that you need to end up priced out of the housing market. If anything, once you get on the housing ladder, you will have an asset that promises to continue increasing its value exponentially. One way to make it easier for explanation is to think of how casino bonuses work. They are great incentives. You pick one, and while the wagering requirements can sometimes be a little much, you will be happy with the winnings afterwards. That is precisely how the real estate market works. It may be a little difficult to get in it at first, but once you do, you should be fairly safe with real estate prices staying steady for years to come. It’s as Tony Sloterman, product owner at Casino Bonuses Finder, says – getting the right house deal is like getting the right bonus deal. You need to do your due diligence, and if you do, you will be happy with the results, which will help you set yourself on a path to economic stability. How to Get into Real Estate – Upscale The first thing to know is that…

Creating wealth is an art and craft that requires research and learning to find the most profitable avenues. The higher the returns, the higher the risks. Therefore, it is important that one fully understands the investment options and thus make informed decisions. Some of the investment vehicles available in the market include bank fixed deposit, stocks, government bonds and real estate, among others. In this article we delve into investing in real estate, outlining what an investor should know before committing their capital. To begin with, buying and owning real estate is an investment that can be both satisfying and lucrative. It is generally capital intensive and illiquid, hence the need to be well informed before committing funds. To begin with, there are three common ways through which one can invest in real estate among them:rental properties–an investor could prefer to build or buy property, and rent it out thus earn a rental income. The amount one can collect from rental property is dependent on the type of property, its location, proximity to amenities and availability of facilities among others. Rental property offers the investor the benefit of a regular income, often monthly subject to having a tenant, and the…

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Land is one of the biggest challenges facing farmers in Africa and Kenya. However, if you have 1/8thacre piece of land, there are various types of small-scale farming that you can do. Examples include: Mushroom farming They do not require a huge area of land. Since button mushrooms do not grow tall, they can be cultivated on an 1/8thacre. It is enough to set up an incubation house. Having 600 bags in one cropping room, you can get close to one tonne of button mushrooms averaging ksh600/kg translating to a total of ksh700,000. Mushrooms can be supplied to supermarkets, hotels, households and can also be imported. Green chili and capsicum farming Chilies and capsicum grow best in warm and humid conditions. The area should receive about 6-8 hours of sunlight. They do not require as much water as other plants. It takes the seeds 2 to 4 months to grow and produce fruit. An 1/8thacre plot can produce at least 150kg per produce selling for ksh 50/= per kg. Poultry Farming Poultry involves keeping of chicken, which can be indigenous (Kienyeji), layers, or broilers. Improved indigenous breeds are also available. In Kenya, chicken eggs are consumed more than meat. The…

In the classic “pyramid” scheme, participants attempt to make money solely by recruiting new participants, usually where: The promoter promises a high return in a short period of time; No genuine product or service is actually sold; and The primary emphasis is on recruiting new participants. All pyramid schemes eventually collapse, and most investors lose their money. Fraudsters frequently promote pyramid schemes through social media, Internet advertising, company websites, group presentations, conference calls, YouTube videos, and other means. Pyramid scheme promoters may go to great lengths to make the program look like a business, such as a legitimate multi-level marketing (MLM) program. But the fraudsters use money paid by new recruits to pay off earlier stage investors (usually recruits as well). At some point, the schemes get too big, the promoter cannot raise enough money from new investors to pay earlier investors, and people lose their money. These are some of the hallmarks of a pyramid scheme: Emphasis on recruiting. If a program focuses solely on recruiting others to join the program for a fee, it is likely a pyramid scheme. Be skeptical if you will receive more compensation for recruiting others than for product sales. No genuine product or…