Checkout Where Land Is Like Gold
The real estate business is booming in Kenya and many investors have shifted into the business as the market continues to expand and as the demand continues to increase each day. Land prices in Kenya have been appreciating at the highest rate with economist foretelling the possibility of real estate taking over all other big business in the near future.
Kiserian town has emerged as the hottest satellite town where land prices
appreciate more than in any other town in Kenya at the moment and the place where the real estate business continuously gives good returns to investors. The town registered the highest returns on land in the year ending September 2015 according to the Hass Property Index report, the town being one of the fourteen satellite towns that are on the index.
The value of land in this town according to Hass Property Index appreciated by 22.8 per cent between September 2014 and September 2015 making it the hottest market amongst 14 satellite towns that make up the index where an acre of land in the satellite town had an asking price of Sh5.8 million as at the end of September 2015.
Economists has said that property prices in these satellite towns, with Kiserian being at the top, are mostly being driven by demand from investment groups and land buying companies and also with the demand for better housing by the middle class.
The attractive returns on land in these satellite towns has become a key driver of demand which has now become the new revenue stream for thousands of investment groups, co-operative societies, SACCOs, learning institutions and individual investors some of them who have abandoned other income earners and fully ventured into the real estate business.
There are however concerns that real estate at the rate at which it is spreading will soon take over all arable lands and therefore reduce on the food production in the country.
source: soko directory