Three Hot Places to Invest in Kisumu Real Estate Market
Are you looking for chances to invest in Kisumu real estate market? Are you keen on real estate investment in Kenya? This is not the opportunity for those with origin in the Lake side city of Kisumu but rather for people who dare to invest. When you want to invest, you look for a hot market. A hot market may never be where you hail from but still its a hot market. Its about the opportunity to make some good return. Kisumu real estate is one of such places.
Kisumu county continues to experienced a lot of growth in real estate sector. Never before have I seen a lot of gated communities coming up in Kisumu and amazingly, a lot of people move in and buy units. A lot of areas in kisumu experience a lot of interest due to many reasons.
Reasons driving Demand for Real estate property in Kisumu
1. The Londiani- Mamboleo Road construction
The construction of Londiani -Mamboleo road has boosted the appetite for investment to acquire properties along the would be new road. This road is going to be the main road linking western Kenya and rift valley. There is intended to be a roundabout at Mamboleo junction with one road going up Vihiga and another going Busia direction.This is made the property owners to hike property prices but also caused more appetite for properties around Mamboleo junction and mamboleo area generally.
2. Kisumu International Airport- A gate way to both Nyanza and Western Counties
This international Airport serves almost all the counties in western and Nyanza counties. From Migori, Homa bay, Kisumu, Siaya, Vihiga, Busia and Kakamega, all uses mainly Kisumu international Airport. This means that more accommodation facilities are required around the Airport and in Kisumu town generally. This has made demand for land in areas like Riat, Kogony, Airport area and a few other spots to be hot areas.
3. High Demand for Accommodations facilities
There are a lot of functions, conference and universities which come to Kisumu and all these require accommodation facilities. I can figure out which public university is missing in Kisumu and those missing are probably on the way coming. Some of the universities in Kisumu (public and private) include;
- Nairobi University
- Maseno University
- Kenyatta University
- Jomo Kenyatta University of Agriculture and Technology (JKUAT)
- Jaramogi Oginga Odinga University (formerly Bondo University)
- Catholic University of East Africa
- Great Lakes University
- Uzima University
- Mount Kenya University
- Kisii University
- KCA University
and any other I may have forgotten. All these universities require accommodation for their staff and students. Hostel business is hot and is here to stay.
4. Change in legislation
The government introduced some taxs on idle lands. This is causing people who are not willing to pay tax on their lands to sell them off. That is opportunity to acquire land.
So there are more than enough reasons why you can invest in Kisumu real estate market and walk away with some good returns regardless of where you are or working in.
Three Hot Places to invest in Kisumu Real Estate Market;
1. Riat Area
This place has the perfect view of town. A lot of institutions are moving in, investors are developing some nice gated communities and a lot of activities are happening there. The prices are going up and the county government is also moving in to do nice roads making movement perfect. One acre parcel of land could go for anything between Ksh4.M to Ksh7M depending on the location and who is selling and perhaps the numbers of acres on sale. For example, currently there ;
7 Acres at Ksh7.5M per Acre
12 Acres at Ksh4M per Acre
1.5 Acres at Ksh6M
14 Acres at Ksh4M per Acre and many ore
2. Maseno Area
If you want to invest in hostels and make some quick money, go Maseno area. If you can get one acre at Ksh2M or even less depending on so many factors. If buy land and put up hostels. The students will come themselves no marketing is required. Currently, We have 12 parcels on sale in Maseno , 1/8, 1/4, 1/2 and one acre parcels.
A lot of opportunity to consider.
Why people love Nyamasaria is a matter I can discuss in another article but there has been a lot of appetite for Nyamasaria lands. Do you care to know? What I can say is that Nyamasaria is another frontier for growth in Kisumu. So far supermarkets, hotels are coming up in Nyamasaria as well as a university. Many more business and institutions are moving in.
Nyamasaria also present opportunity for someone who want to build a home. If you are looking for a metropolitan area to build a home in Kisumu, consider nyamasaria.
Now you know where you can put your money and you see the returns trickling in with less effort. Get in touch with us and will guide through the process of acquiring one or developing your property there.