We post articles on kenya real estate and all other real estate markets in kenya, including kisumu real estate, kakamega real estate and others.
Tuesday, 6 October 2015
Why is Kisumu Real Estate a Booming Industry in Kenya?
The rising wave experienced presently has seen most investors
in real estate sector in Kenya move from the big towns and cities such as Nairobi
to thriving towns, with highly valuable properties such as Kisumu.
Kisumu is a town located to the West side of Kenya and
has an ever growing economy. It is the third largest town in Kenya after
Nairobi and Mombasa. It is also a port town and has a very good weather for
agricultural practices that contributes to high income and trading practices
among the dwellers. There are big time investors who are trickling into Kisumu
town to capture the rising and falling prices of the pieces of land and houses.
According to the Kisumu real estate and property
dealers, the changes in the market demand of the land and houses in Kisumu are
as a result of the upgraded infrastructure in the town. The workers doing the
changes in infrastructure state need of accommodation, which creates a niche in
the real estate market in Kisumu.
The increased demand of the houses and land in this
part of Kenya has seen the market price of houses, land and rentals in Kisumu
increase by an estimated 1000%, making the owners of such properties multimillionaires.
Kisumu Real Estate as a sector has hence achieved its reputation as the booming
sector in town, having attracted very large numbers of investors, land and
property dealers and ultimately the attention of all Kenyans.
To know how real estate in Kisumu is being priced presently,
you can buy an acre of land at Riat Hills, an estate along Kisumu-Kakamega Road
for 4 to 5 million Kenya shillings. To rent a 3 bedroom house in Riat Hills
estate in Kisumu, you will have to cough a whooping 35,000 to 60,000 shillings
This just shows how the real estate sector in Kisumu
is making it a midst other sectors.