Point Properties Ltd – Articles of Interest

Real estate market posts improvement in first half 2018

Absorption of Grade A and B office space in Nairobi rose by 12% in the first half of the year compared to the second half of 2017, according to Knight Frank’s Kenya Market Update – 1st Half 2018. Increased uptake of office space followed the improved political climate and economic recovery in the period, with the country’s Gross Domestic Product (GDP) having expanded by 5.7% in the first quarter. A decline in prime asking rents for offices to US$1.3 per square foot per month, from US$1.4/sqft/m in the latter half of 2017, also boosted uptake. The Kenya Market Update report showed prime residential prices increased marginally by 0.4% in the period compared to a 1.8% decrease in the second half of 2017, while prime residential rents rose by 0.33%. “The increase in prime residential prices and rents is attributed to an improved political climate and the thawing of the wait-and-see attitude among buyers and occupiers,” the report notes. In retail, prime rents remained flat at US$55/sqm/month, with footfall in major shopping malls having increased slightly in the review period as expanding retailers took up anchor tenant spaces vacated by ailing rivals. Occupancy levels remained high for established malls at 90% and…

Sacco turns home ownership dream into a reality

Are you in a SACCO? Here is why you need to join one as soon as possible! As the world marked the International Day of Cooperatives locally known as Ushirika Day two weeks ago, Urithi Housing Cooperative Society handed over 100 affordable homes to families in Juja, Kiambu County. The houses, each sitting on a 1/8-acre land, are three-bedroom master ensuites. The gated community is also served by a new commercial centre and a children’s playground along Juja Farm road. The construction of the new Juja Plainsview Estate began in 2015. It is the fourth project under the Nyumba Mia affordable housing concept, which Urithi has been handing over to Kenyans in the last two years. Read more

Land and real estate continue to be one of the best assets classes to bring the best returns

Land and real estate continue to be one of the best assets classes to bring the best returns over the long-term period. this is according to the 2018 quarter two Hass property index.

Real estate sector attracts investors amid high returns

Among them is Cool Breeze Development Limited, a Nairobi-based group of investors, which last week unveiled plans to construct five 14-floor blocks in a gated community in Nairobi Kenya’s real estate sector is attracting big investments as investors seek to cash in on huge housing deficit, high returns and infrastructural development amid stable political climate environment. The past months have seen several investors announce projects that include building of houses, student hostels, office blocks and hotels. Among them is Cool Breeze Development Limited, a Nairobi-based group of investors, which last week unveiled plans to construct five 14-floor blocks in a gated community in Nairobi. The development would consist of 120 studio apartments, 240 one-bedroom apartments, 148 two-bedroom units and 16 three-bedroom units. Read more

How to invest like a professional

Sometime last year, I decided to go back to school. Money school. I remember my mum asking if I’d find the time for it. But in life, prioritising is everything, and I was at a point in my life where I needed to learn more about investment options and find a tailor-made solution for my money. We’ve heard stories of friends, family members or famous individuals who were flush with cash at some point in their lives, but they’re now languishing in poverty. Managing money matters to all of us. The questions you need to ask yourself are: what percentage of your income goes to savings? How much have you saved? With these savings, what are your intentions? How long can you last on the savings alone? If your main source of income were to fail today, would you go back to the struggle or confidently take up a new venture? Simple exercise Now a simple exercise. Take a piece of paper and answer each and every question that I just listed above. Read more

Karen is most affordable high end suburb

Nairobi’s Karen suburb offers the lowest price for an acre of land among high-end estates, a new real estate report has shown. With an average price per acre of land in Karen going for Sh52 million against a market average of Sh87 million for an acre, it offers prospective land buyers the best bet for an address in some of Kenya’s high end estates, says Cytonn Investments’ latest report released this week. Karen, according to the new study, recorded the highest increase in price or value of asset at 12.2 per cent since 2011 in low rise residential suburbs, against a market average of 4.5 per cent. Even then, Cytonn shows that the Karen suburb, attracts the fairest asking prices for land now despite prices have risen over the years with an acre in going for Sh52 million up from Sh25 million in 2011. Land in Nairobi’s reclusive Spring Valley is the most expensive followed by Nyari, an estate located along Limuru Road and which borders Muthaiga and Runda. In Ridgeways an acre goes for Sh68 million, Spring Valley (Sh154 million), Kitisuru (Sh70 million), Runda (Sh68 million), and Nyari (Sh109 million). Six years ago, an acre of land in Ridgeways…

If you want to make headway on building your wealth, simply saving money might not be enough. Your next move to maximize your savings should be to begin investing. Investing is an important building block of a sound financial future and can help you get higher returns from your money than you’d get from a savings account or certificates of deposit. 1. Set the stage for sound investment Before putting a shilling in any investment set the stage for sound investing. First, set up a budget indicating all your capital and recurrent expenditure. 2. Seek help For brand new investors, the process might be overwhelming. If you are unsure of how or where to put your investments, get a firm that can advise you well. 3. Start with simple Investments The best way to invest is to keep things simple. Begin with a simple and manageable monthly investment and work your way up as you get to know the investing markets better. 4. Learn where to invest your money Our CEO – GeorgeWachiuri — an entrepreneur, author, motivator and astute businessman offered the following advice on where beginners should invest: “For beginner investors, the best investment market is the real estate sector. With a 45% –…