This archive report was first published on 31 October 2019.
Three Affordable Places to Invest Sh5 Million Around Nairobi ¶
Are you looking for a place to invest Sh5 million around Nairobi without breaking the bank? The good news is that there are several options available, and we've identified three of the most promising ones.
According to the Hass Property Index, the cheapest land in Nairobi is ironically found in Karen, with an average price of Sh62.2 million per acre. However, this is not the only option for those looking to invest in real estate around Nairobi.
One of the most affordable places to invest Sh5 million is Thika. The area is expected to experience significant growth due to infrastructure projects, including the 10-kilometre by-pass covering Garissa Road-Kivulini-Kisii-Kiganjo-Athena-Witeithie to Thika Superhighway. This will open up previously inaccessible locales and make it easier for people to commute between Thika and Nairobi.
Patrick Muchemi from Home Search Limited notes that with the opening of these transport corridors, it will be possible to work in the city and sleep in Thika and vice versa. This makes Thika an attractive option for those looking to invest in real estate.
Another affordable place to invest Sh5 million is Kajiado County. While some areas of the county, such as Ngong, Ongata Rongai, and Kitengela, have been swept up by the property wave around the capital and may be out of your range, there are still several options available. Consider areas bordering Kajiado town, such as Il Bissil and Isinya, which are sparsely populated and offer more opportunities for locals to sub-divide their land for sale.
Finally, consider investing in Tinga, a small settlement past Ole Polos. The government has announced plans to dual the Bomas-Kona Baridi section of Magadi Road, which will provide further incentives to real estate developers. An acre of land in Tinga sells for between Sh500,000 and Sh1 million, making it an attractive option for those looking to invest in real estate on a budget.
However, it's worth noting that investing in Tinga may take time to recoup your investment as prices rise slower than areas closer to Nairobi. Additionally, be aware of land scammers and do your research before making any investment decisions.
Whether you choose to invest in Thika, Kajiado, or Tinga, it's essential to do your research and consider the potential risks and rewards before making any investment decisions.
