Luxurious Houses for Sale in Kenya
As the prices of land continue to appreciate, so do the housing costs. Just like the land, the housing costs linearly depend on the location of the houses, availability of social amenities and their proximate distance from the city. Many real estates operate in a cyclic environment globally, and Kenya is no exception. General elections are a major determining factor of these cycles.
The divisions of the Kenyan real estate market
The gap which exists between the tycoons and the poor people continues to widen every single day. To fill in this gap, real estates have different classes of houses for sale which perfectly suits their needs. Keeping income as a significant determining factor of the kind of homes people buy, we have three broad categories, namely: the high, the low and the median income.
Houses for sale along the coast and those which are close to the ocean cost much more than those in the country. Urbanization has for a long time been the primary driving factor in the growth of the real estate markets. As the underlying income of households increases, so do their spending habits.
The middle income real estate markets seem to witness the most growth compared to the other two, the low income and the high income markets.
Houses for sale in Nairobi
Among all places in Kenya, Nairobi has a tremendous growth of real estate markets. This may be attributed to the rural-urban migration and the proximity of the houses to the central business district (CBD) where the majority of people go to work every day. Most of the homes built in Nairobi by real estate developers are not affordable to the general local population. It is usual to see billboards and notice boards advertising house vacancies which remain unfilled month after month.
Some of the most common residential apartments in Nairobi are located at Kilimani, Upperhill, Lavington, Kileleshwa and Karen to mention but a few.
The key markets for houses in Kenya
Majority of the homes constructed are used for residence, offices, retail or for industrial purposes. In the past years, there had been an oversupply of offices, but the trend has since changed with the office market finally becoming stable.
When investors want to acquire an industrial house, they always avoid leasing and renting. Majority of industrial homes in Kenya are located along Mombasa Road and in Mariakani.
It will be correct to say residential houses are the biggest and key drivers of the real estate market. Upcoming urban centers like Naivasha, Nakuru and Thika have witnessed progressive growth in its residential houses development.
Where to look for houses for sale
Many websites out there are striving to explain the trends of homes for sale in Kenya. The most outstanding of these sites is Kenya Properties . We have uniquely classified lands and houses for sale which makes it much easier for potential buyers to get the exact kind of homes which suits their needs and all communication is directly with the authorised agent without any invonvement from us thereby cutting out any middle parties that would only increase your sourcing cost.