There are so many gated communities which keeps on sprouting up in the suburbs of Nairobi. Places like Mlolongo, Embakasi, Umoja are just a handful of such places which experience such development and people are always ready for such development. Developers are moving away from doing the normal rental which subject them to monthly rent collection as well as occasional property maintenance activities. This aspect of gated communities continue to grow its prominence in the Kenya market. Kisumu real estate market has also begun this type of development and its picking momentum. What favors this growth?
The County Government has reignited Kisumu real estate market
Kisumu real estate market has seen some tremendous growth with the coming of the County government. Many people are now seeing the city is being transformed into a modern metropolis and all the indications are there to point to a brighter city and a home for not just natives but also for non-natives. The states are opening up, places like mamboleo is coming up well, Riat is developing so rapidly and even nyamasaria area is a small city within Kisumu County. Things are looking nice thanks to the coming of the county government structure.
The land in Kisumu is fairly priced
The second reason why Kisumu real estate market is the place for real estate investment in Kenya is that there are still many parcels which are owned by original owners, most of whom inherited the lands and so the prices are not as high as places like Nairobi or Mombasa. When in Nairobi, one acre of land can price up to Ksh800, 000, 000 depending on the location, in Kisumu real estate market, the same can price from Ksh3, 000, 000 to Ksh80, 000, 000 depending on the location. This means that you can come to Kisumu County and get real estate property as a friendlier rate than you would get in Nairobi.
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There is more space for development
There are still more opportunity for growth in Kisumu real estate market. You will find there are areas where restaurants are missing as well as some places where you can have some social gathering. Universities are also providing challenge since more universities have increased demand for hostels and now, people with homes they don’t stay in, convert them to hostel for university students to stay in. This means that with more investment in hostel, students will leave homes and live in hostels where they should rightfully stay in.
Whether you want to do a residential or commercial property, Kisumu real estate market is ideal for investment and you will not be worried of lack of market. When the first gated community was started in Kisumu over 6 years ago, people thought whether they will sell. The rate at which the first gated community units sold encouraged more developers and now even potential owners know that you can get some gated community to invest in while in Kisumu County.
Do you need to invest in land in Kisumu, don’t wait for someone to tell you what to do. Just contact as and will help you get land and advise you the places you can invest in.
If you are looking a house designs in Kenya or a construction company in Kenya for your next project, think Marble Engineering and Construction Ltd.
We are a Design and Build Construction Company in Kenya with over 25 years of experience in active building construction in Kenya. We mainly do house plans, project planning, building construction, renovations and extensions, institutional building, commercial office blocks and plumbing and drainage services.