This archive report was first published on 17 August 2019.
Kenya's population is projected to more than triple over the next 40 years, putting immense pressure on housing demands and potentially outstripping supply.
While the real estate market has been seen as lucrative, with promises of bigger and better returns compared to other ventures, a glut in the market is now telling a different story altogether.
According to 2018 projections, areas with high real estate potential in Kenya outside Nairobi include Thindigua, Kiambu, Kabete, Membley in Ruiru, Rongai, and areas along Waiyaki road including Uthiru, Regen, Kinoo, and Kikuyu.
Practising valuer and author Kariuki Waweru advises that due diligence is key when investing in real estate, and that understanding the market fully before jumping in is crucial.
"This is enough to boost prices but also to maximize the chances of making a successful investment," said Hayer One Marketing, highlighting Nairobi's attractiveness to newcomers.
Kenya's real estate sector is highly segmented, and while some areas have already experienced a bubble, others are thriving. Kariuki notes that a bubble bursts when one buys an overpriced property that cannot be sold at a later date unless it is disposed of at a lower price.
He advises anyone thinking of investing in real estate to enlist a registered valuer to help with options on the best investment.
As a seasoned investor, Kariuki has detailed his homeownership journey on his blog and has practiced what he preaches, purchasing several parcels of land in various parts of the country.
