Affordable Housing Investment Opportunities in Kenya | Mbvoni
16835
page-template,page-template-full_width,page-template-full_width-php,page,page-id-16835,ajax_fade,page_not_loaded,,qode-theme-ver-17.0,qode-theme-bridge,qode_header_in_grid,wpb-js-composer js-comp-ver-5.4.5,vc_responsive

Kenya

HOUSING IN KENYA

The annual housing requirements in Kenya were estimated to be around 132,000 in 2015, and with the government’s housing projects providing 50,000 housing units per year, there is a considerable disparity in what is needed and what is received. There is also a housing backlog of 1.85m units.

A positive regarding the cost of house construction in Kenya is the range of housing options provided by housing cooperatives. These options cover all ends of the spectrum, with cheaper units costing Ksh600,000 and the largest, most prestigious homes costing anywhere up to Ksh14,000,000. Location is all-important in determining the cost of these homes, and the type of housing depends on the cost of the infrastructure in the area. As a business, the housing cooperative obviously has to break even, and the main vehicle for this is the building of large, high-end housing that delivers a much higher premium.

WHY INVEST IN KENYA?

  • The affordable housing sector has caught the attention of several of the nation’s property developers, including Jamii Bora (trading as Urbanis Africa) and Karibu Homes-Parktel (the latter working in tandem with Shelter Afrique) are at the forefront of these developments, with Karibu currently leading a project of 1,074 units, including one-bedroom properties priced at Ksh1.6m, or US$15,753.
  • Urbanis Africa has been developing in the sector for several years, taking on several projects that will create 5,000 units of affordable housing. With other developers, such as Suraya Property Group and Erdemann Property Ltd also working in the area, the affordable housing sector in Kenya can thrive with the right investment.
  • Couple this with the recent formation of a National Land Commission leading to changes in land management structures, and the condition of the affordable housing sector is now a much more attractive one.

INVEST IN SOMETHING GREAT

Help Future Generations Today

Get in touch today and we will be more than happy to assist with any enquiry.