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Wednesday, 1 July 2015

Kenya property investment: An Exciting Real Estate Investment Prospect

The east African factbook clearly states that in its opinion Kenya is a ‘Central and eastern Africa success story’, and the government of Kenya is keen to expand on the country’s success and have announced the implementation of a seven year plan for the economic expansion of the country.

To this end they are actively encouraging international real estate investors and those looking for a retirement or second home overseas to come to Kenya and explore its exciting and affordable property market.

The Kenyan real estate market is one of the most exciting in Central and eastern Africa right now as a direct result of the Kenyan government’s commitment to promoting the property sector.  With the implementation of a series of tax breaks and investment incentives available to overseas real estate buyers the success of the Kenyan property market is practically guaranteed.

For those looking purely for real estate investment opportunity, Kenya offers two main angles for property investors to explore: -

Firstly as the natural beauty of Kenya proves an irresistible draw for more and more travelers and those in search of the perfect getaway, so the demand for rental and hotel accommodation in Kenya is on the increase.  The supply of quality accommodation in Kenya cannot meet current demand and this situation is likely to deteriorate as the popularity of the country increases.  The government is well aware of this fact and is keen to attract those wishing to develop specifically for the tourism market.

Secondly Kenya is becoming increasingly popular with the soon to retire USA and other westernized countries baby boomers who are actively seeking an affordable and attractive location in which to retire.  Because Kenya enjoys relatively low crime, is neutral, has a relatively high standard and low cost of living it is gaining a reputation among pre-retirees as a must-consider destination.  There is therefore room for the development of real estate to suit this particular market or for the purchase and long term lease of real estate to this market.  This particular group of people also represents a strong resale demand for those who buy now, improve property and intend to resell in the medium term to release gains accrued.

The real estate investment climate in Kenya is hot right now with the government working flat out to attract sustainable foreign direct investment – those interested in making a move should consider committing to the market sooner rather than later while it remains a buyer’s market and before opportunities for the strongest investment gains are eroded by increased levels of investor awareness and interest.

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