Thriving investment in Kisumu real estates
Due to the high rate of developing real estates at Riat Area in Kisumu City, the bigger area of Riat has been transformed into a different level of neighborhoods. Generally, Kisumu real estate success has been triggered by the constructions of the new highways within the city.
Many of Kisumu real estate developers are changing the names of little known places like, Riat, Lolwe, Polyview estate, etc into lavish estates and palatial gated communities. For example, Riat which is located along Kisumu-Kakamega highway and is just about 10minutes drive to the city, has acquired a massive change needed as long as real estate development is concerned. Apartments, Bungalow, maisonettes, town houses, flats etc have been seen filling the area rapidly.
The reasons why the investors are speeding up to acquire properties in the area is because of the good ambience of the Riat estate, excellent aerial view and ofcourse the enormous returns they get out of investing into the real estate business. If you take a walk around the some of the estates, particularly Riat estate, you’ll notice a dozen of bungalows, town houses and maisonettes in very big compounds which are standing behind well trimmed edges that are the main attraction on the site.
Currently Riat estate directly resembles Karen, kileleswa and lavington in Nairobi, and also joining the upper class estates in Kisumu like, Milimani, Kenya Re. and mountain view . Since many rich dweller prefer to stay in the suburb areas like Riat, demand for property in places like Milimani, Kenya Re, Tom Mboya have decreased conspicuously hence increased market price of properties in Riat estate.
According to a leading Kisumu real estates agency; west Kenya real estate, an acre of land in Riat now goes at a range of Kshs3.M-to-Kshs3.5M, where initially it use to be around Kshs200,000 of the same size. The recent survey show that the prices will continue to hike higher if the infrastructure within the region will improve. The city council needs to lure more investors in the region because the Riat estate has an enormous potential of residential and commercial.
On the other hand, most developer are highly attracted by the aerial view of the area and to be particular its ambience. The rapid development in the Riat esate has been made possible by the low cost of construction due to availability of rocks in the area. This literally means the investors in the region actually spend less working on the foundation of the project due to availability of rocks in the site.
The place is totally different from other places within the region; it’s very cool and breezy compared to other places in the region which have relatively high very temperatures around the city and its environs.
If you are looking for a property to buy and invest visit www.westkenyarealestate.com , and find your desired location and price within Kisumu city. Now is the time to buy! Kisumu real estate prices will not stay suppressed over the long term. Don’t let this brilliant opportunity pass you by!