The Top 5 Kenyan Towns For Real Estate Investment In 2023
Before making any investment, research and finding the most lucrative option is always a good idea. That way, you can make a profit and increase your net worth. For real estate investment in Kenya, look at the following options.
1. Athi River
Athi River will be a lovely town for real estate in 2023, thanks to the construction of the Nairobi Expressway. This piece of infrastructure has made it very easy for drivers to move from a place like Westlands to Athi River within a fraction of the time it used to take. As such, people working within Nairobi or running businesses in the same area find Athi River an attractive place to live. The town is much more affordable than most places surrounding the city, thanks to its distance from the capital. Developers, as well as investors, should consider taking their money to Athi River.
Real estate investment goes beyond buying apartments or houses to live in. It also includes purchasing land you can sell later at a profit or develop into a commercial or residential complex. Kitengela is the perfect town for this kind of investment. The area has seen a steady growth in the number of people moving in to buy apartments and houses or lease commercial spaces. Kitengela two bedrooms are especially popular with young professionals looking for affordable living places. Consider investing in an apartment complex within Kitengela to fulfil this demand in the market.
Ruaka town has been growing steadily over the last few years and is now one of the most sought-after rental areas within Nairobi and its outskirts. It has a lot of rental properties available, from studio apartments to four-bedroom apartments with the latest amenities. Rent prices are also high compared to other places in the region. Investors putting their money into this area can expect high returns at a steady pace over the next few years. Ruaka is also benefiting from the renovation and expansion of the roads.
If you prefer to invest along the Kenyan Coast, then Nyali is an excellent option. Thanks to a general increase in population in Kenya, there has been an increase in demand for suitable housing options. That applies to single residents as well as families. Additionally, the expatriate population within Kenya has increased, and many of these residents live along the Kenyan Coast. Consider investing in property around Nyali, which is an accessible town with a multitude of social amenities, making it an attractive place to live.
Kenya is experiencing an improvement in the economy, especially as the nation recovers from the COVID-19 pandemic. This recovery has been characterised by a growth in business operations, with more companies looking for commercial spaces for their office and warehouse needs. Machakos town is an excellent location for warehouses, thanks to the sound transport systems between this town and the capital. Consider investing in spaces that can be turned into warehouses or storage areas for different businesses.
Many real estate businesses are looking at Naivasha as a great town to invest in, especially when it comes to buying and selling land. The area has many plots for sale, and businesses are going as far as developing large pieces of land into gated communities as the demand for larger homes outside the city increases. Buying land in Naivasha opens you up to many options, including selling the plot later at a profit, building a home, or constructing several houses to form a gated community.
Real estate investment within different Kenyan towns continues to attract more people, both citizens and foreigners. Kenya has a significant market, and you can invest wisely by choosing any of these towns.