Written by Sarah Wahogo
There’s a certain magic to returning to your roots. It’s a chance to reconnect with loved ones, rediscover familiar places, and contribute to the community that shaped you.
But for many Kenyans living abroad, that desire to give back can be coupled with a practical consideration: investing in their homeland. There are many ways of investing, but only one guarantees appreciation in value: land investment.
One of the best ways to invest in Real Estate in Kenya is by investing in upcoming or growing towns like Nakuru.
Key Takeaways:
● Land investments in Kenya offer high growth potential and attractive returns.
● Investing back home supports economic growth and leaves a lasting legacy for future generations.
● Successful investment requires navigating the real estate market, exploring financing options, and ensuring a secure purchase process.
Why Invest in Real Estate in Kenya?
Economically, it stimulates local businesses, creates jobs, and boosts overall economic activity, contributing to the development of your home country. In 2022, the Kenya Institute of Public Policy Research and Analysis (KIPPRA) diaspora revealed that remittances reached a record high of US$ 4.027 billion, demonstrating the significant impact of investing back home.
Financially, real estate markets often offer high growth potential and attractive returns on investment, providing opportunities that may not be available elsewhere. Some satellite towns like Lanet Lanet, an Upcoming Town in Nakuru Kenya, are anticipating a 10% annual growth rate due to the new infrastructure projects in these towns.
Investing back home allows you to leave a lasting legacy, positively impacting future generations and providing them with better opportunities. It not only supports your financial goals but also contributes to the prosperity and development of your homeland.
How to Invest in Land in Upcoming Towns in Kenya?
- Navigate the Real Estate Market:
- The Kenyan real estate market can be complex, with many vendors and potential pitfalls. Critical analysis and expert guidance are essential.
- Consider investing in growing areas like Kangundo Road, Ngong, Matuu, Nakuru, and Kisumu. Projects like Serenity Springs Lanet and Havvanna Estate offer promising opportunities. These are all growing metropolises that will be highly prized in the coming years. Do not be afraid of investing outside Nairobi as these areas are growing and developing fast. All you need to do is ensure you research and seek expert guidance while analyzing the market.
- Explore Financing Options:
- Financing can be challenging, especially when making substantial real estate investments. Seek flexible payment plans that can ease the financial burden. Companies like Username Investments offer extended payment plans of up to 12 months.
- Traditional financing options include loans from banks, Saccos, and private lenders.
- Ensure a Smooth and Secure Property Purchase:
- Identify reputable vendors and conduct thorough due diligence to avoid scams. Registered companies are bound by legal regulations and standards, which often translate into high levels of professionalism and thorough due diligence processes. This provides peace of mind to diaspora investors.
- Understand the legal requirements and procedures involved in land transactions. Having accurate information and a clear understanding of the legalities will help streamline the process. These legalities include knowing the documents needed for making land purchases such as the offer letter, sales agreement, green card copy, and ownership documents such as the freehold or leasehold title deeds depending on the land tenure. An understanding of when each document comes to use is also essential and will save you from any duping
- Ensure you have the necessary documents, such as ID copies, KRA pin, and passport photos, to streamline the purchase process.
Conclusion
In conclusion, it is essential to navigate the market, conduct thorough due diligence, and ensure that you have all the required documents to ensure a seamless process.
Investing in land back home not only supports your financial goals but also contributes to Kenya’s development. Areas like Serenity Springs Lanet offer ideal opportunities for diaspora investors to build a secure financial future.