As the country recovers steadily from the covid-19 pandemic, the real estate sector is immensely improving. This is due to the growing rate at which millennials need and want to own homes. Additionally, there are other contributing factors such as infrastructure development, urbanization, and the huge growth of the middle-class population.
These are some of the trends set to prevail in the following years:
Real Estate going digital
Real estate companies are now changing their strategies in order to enhance digital customer satisfaction and experience. Properties and lands for sale can now be viewed online, payments are being made online and even site tours through means such as videoconferencing. With this change, Kenyans living outside the country can now be able to purchase lands and properties to invest in.
The Ministry of Lands has also provided a digital platform that allows landowners to conduct a land search, transfer property and obtain a title deed seamlessly thus allowing the land acquisition to be effortless and transparent.
Ever-changing vacation stays
As Airbnb grows in popularity as a vacation rental option, more Kenyans are taking advantage of the opportunity it provides.
According to an industry report, Africa is the fastest-growing market on Airbnb, with Kenya experiencing a 68 percent increase in bookings.
The opportunity for investors looking for land that can generate passive income is in acquiring and developing land in areas such as Ruaka, Ngong, Rongai, and Kajiado.
Currently, developers are designing modern offices to feel like homes. The offices are equipped with facilities such as kitchen cabinets, relax lounges, and many more; amenities such as fully equipped gyms, entryways for people with disabilities, close proximity restaurants, and many more. In the long run, the office work setup might change to a hybrid type of environment. This is whereby employees will be able to work remotely, physically, or both depending on the organization.
Affordable quality residential homes
Infrastructural developments across satellite towns characterized by the development of roads, electricity, schools, hospitals, and other amenities have made the need to own homes grow in demand. Such towns are attracting both the young and old. The perks are irresistible. With the current generation, the desire for quality and affordable homes has greatly increased. Towns such as Ruaka, have a large working population. This in turn leads to upgrades of such towns and residents enjoying the benefits that come with it. Additionaly, developers are now offering rent-to-own options in the new developments coming up. Most of these options are in towns like Ruaka and you can check them here.
Affordable lands with ready title deeds.
It was once said; “the best investment on Earth is earth” and land has proven to be a tenacious asset. This is because of its continuous capital appreciation. Kenya boasts of a significant annual urbanization rate which is higher than the global rate. The demand for land is majorly due to the relatively young working population that is investment savvy. Additionally, the ongoing expansion of major highways such as Waiyaki Way and the Nairobi Expressway will also lead to the growth in demand for lands in the country. Satelitte towns have the fastest appreciating land prices. Checkout some of our lands on sale.
In conclusion, these are just but some of the ongoing trends and we hope to see more from the changing real estate sector.
If you are seeking a trusted real estate company that delivers value, affordability, and quality, then do not hesitate to contact us and we will guide you.