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.
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