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Ten areas whose real estate value has ballooned in Kenya

Houses in Runda

The location of property is a crucial factor that determines the price of land to investors. Investors prefer property with close proximity to roads, transport linkages, upcoming highways, areas with high population growth and important land marks. Here are such areas according to Username Investment Ltd

1. Ngong

This was rated the best performing satellite town in 2018 attributed to the ongoing infrastructural developments in the area such as expansion of Ngong Road, the Southern Bypass and Ngong-Kimuka Standard Gauge Railway station.

Construction of the Ngong-Kimuka-Suswa road is ongoing and will be complete in 24 months. Completion of this road is expected to ease transportation and open up the area for real estate development. The town has attracted real estate players as well as land speculators thus driving up price of land.

2. Nakuru

Nakuru is reportedly the fastest growing town in East and Central Africa according to the UN. The Cabinet  recently approved the elevation of Nakuru to city status.

It enjoys agricultural wealth that has seen land prices rise by 9.46 per cent according to Nakuru County Land Prices Report. Preparations are ongoing to upgrade Lanet Airstrip in Nakuru to an international airport. The fact that it is centrally positioned also makes it a dream spot for investors.

3. Konza

Konza Techno City is a national flagship project under Vision 2030, an economic development blueprint that seeks to propel the country to middle-income status by 2030.

Recently South Korea committed Sh10 billion to set up Kenya’s first graduates only Information Technology University at Konza Technopolis which is set to be open in 2021. This is expected to fast track the development of Konza. These infrastructural projects are positively influencing the price of land in Konza area.

4. Naivasha

The extension of Phase 2A of the SGR which skirts along a 120km from Nairobi to Naivasha has entered its final stages with the projected completion date of August this year. This has seen the value of land increase heavily in Naivasha town and the environs where the proposed Mega Industrial Park, to be served by the railway, will be located.

5. Athi River

The industrial town situated in Machakos County has witnessed improved infrastructure ranging from expansion of Mombasa Road, construction of the Athi River interchange and construction of the SGR and Athi River Super Bridge which has eased access to the town.

The area hosts several companies making it ideal for investors who wish to put up commercial, residential houses for employees or business premises.

6. Kangundo Road

The anticipated construction of the greater Eastern bypass in the neighbourhood is gradually opening up the area and driving demand for real estate. The completion of the dual Outering road has also helped ease traffic between the city centre and Kangundo Road. Between 2012 and 2017, Machakos County land prices have risen by an average of 8.54 per cent a year according to County Land Report.

7. Kamulu

Kamulu is a small buzzing town located along Kangundo Road on the eastern side of Jomo Kenyatta International Airport. Price of land has appreciated due to proximity to the city and infrastructural developments such as the Eastern bypass which directs a lot of traffic by linking Mombasa Road and Thika Road.

8. Juja

Juja is another area with an annual land appreciation of 51 per cent. The Thika Superhighway, a number of colleges and universities located in the area, including Pioneer School, Jomo Kenyatta University of Agriculture and Technology and the elite Juja Preparatory Academy, and readily available market for various industrial goods continue to attract real estate investment in the area.

9. Ruiru

Ruiru continues to attract real estate investment supported by good transport networks, which provide easy access to key business nodes such as Mombasa Road, Thika Superhighway and the Nairobi CBD.

This growth is expected to improve further with the planned Mass Rapid Transit System, a vibrant economy especially of agro-based and industrial businesses which create demand for dwelling units and a positive demographic profile.

10. Kiambu

According to the 2018 Land Index, Kiambu County’s appreciation in land value stood at a staggering 98.73 per cent over the last five years. The growth of this satellite town is attributed to the construction of the Northern Bypass Road. Being the headquarters of Kiambu County, it is considered one of the richest places in the country by the wealth matrix.

-www.mediamaxnetwork.co.ke

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