Thursday, 18 June 2015
The Latest Exciting Emerging Kenya Real Estate Market
Since 2003 the Kenyan Government have committed to making major fiscal, political and fundamental changes to the country to improve the entire environment for foreign direct investment, as a result GDP growth rate is escalating, inflation is down and Kenyan Real Estate prices are beginning to soar as overseas interest in the stunningly beautiful and amazingly diverse country of Kenya is intensifying.
Because Kenya is such a large country covering such a huge landmass it traverses many different geographic, environmental and climatic changes and offers a lifestyle alternative to suit everyone. The appeal of the country is immediately obvious to anyone who travels to Kenya on holiday and because the path has been smoothed for foreign freehold ownership of real estate in Kenya, more and more people who visit the country are choosing to buy a holiday home or investment property in the country.
The most popular area with holiday makers, second homers and now retirees is the north suburb of Mombasa, where the weather is at its best and where the coastal regions are home to stunning palm fringed beaches and growing communities of expatriates who are enjoying the laid back, low cost lifestyle they can achieve in Kenya.
It is in this part of the country that Kenyan Real Estate prices are really starting to go up. The demand for real estate to buy and let is growing rapidly and the purchasing power of those overseas investors entering the market place is strong enough to support property price increases.
Anyone considering the world’s emerging real estate markets for maximum opportunity will find what they’re looking for in Kenya. The country has an active commercial property market, an active tourism market and local and overseas demand for housing is strong, therefore sufficient demand for real estate in Kenya exists creating the perfect environment for profit and gains.
A final additional tick in the suitability box for Kenya as a destination for investment is the fact that the real estate buying process for foreign purchasers is straightforward, and additional taxes and fees associated with purchasing and owning property or land in Kenya are relatively very low.