Kenya is among the low and middle-income countries where small and informal businesses make up majority of all enterprises. The informal sector represents 82.7% of employment including a mother selling tomatoes, a group of young men running a car wash and a young man operating a motorcycle taxi among others. All of these individuals are looking for places that are offering affordable properties to invest in.
Below are some of the areas that have affordable properties in Kenya with prices as low as Ksh 199,000 with flexible payment plans that suits the young people.
- 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 dualling of the Outering road has also helped ease traffic between the city centre and Kangundo Road, adding to convenient access as well as the attractiveness of the area. From 2012 to 2017, Machakos County’s land prices have risen by an average of 8.54 per cent a year according to County Land Report. Its proximity to Nairobi, has positioned it as a lower cost alternative for investors especially young professionals who can invest in the area with prices as low as Ksh 399,000.
- Konza – Konza Techno City is a national flagship project under Vision 2030, Kenya’s economic development blueprint that seeks to propel the country to middle-income status by 2030. Recently South Korea committed Ksh. 10 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. The proposed Ksh. 300 billion Mombasa- Nairobi Expressway will bypass the capital city to branch off just past Konza and terminate onto the Nakuru- Nairobi highway in Kikuyu. The construction is set to begin in June. All these infrastructural projects are positively influencing the prices of land in Konza area and investors are already investing here. Despite the infrastructural growth in the area, properties are affordable and selling with prices as low as Ksh 299,000.
- Tinga – Located approximately 65 kms from Nairobi CBD is Tinga Town just after Ongata Rongai and Kiserian Towns. The area enjoys modest schools, hospitals, police station, water and electricity among other social amenities. The greater southern bypass is set to open the area even more in the near future. Investors choosing to invest here have the opportunity to invest affordably with properties selling as low as Ksh 199,000 with available instalment payment plans.
- Matuu – The town has experienced rapid growth in recent years and it is now one of the largest urban centres in Machakos County. It is mainly an agricultural production area and a great economic hub that enjoys increased commercial activity as it is a key transit centre in the region to other areas including Nairobi, Thika and other parts of Central and Eastern Kenya. The area enjoys infrastructural growth with the recent tarmacking of Kivandini – Masinga Road and the upcoming cement factory according to Machakos Governor Dr. Alfred Mutua. Amazingly, properties in this area are selling with prices as low as Ksh 199,000 despite proximity to amenities such as schools, health facilities, shopping facilities, markets and religious centres.
- Nakuru – Nakuru is the fastest growing town in East and Central Africa according to the United Nations. The Cabinet has also approved the Elevation of Nakuru to city status. The county enjoys a rich agricultural wealth that has seen land prices rise by 9.46 percent according to Nakuru County Land Prices Report. Preparations are ongoing at Lanet airstrip in Nakuru for an upgrade to an international airport. Despite the massive growth of the town properties in this area are retailing at prices as low as Ksh 350,000 making it an ideal investment opportunity for young people.
If you are looking for affordable properties in Kenya that you can invest in, these are some of the areas that you can consider and reap from the foreseen capital gains.