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Housing

Women take real estate by storm with Kenyans ranking among the top

By TFN Reporter

Kenyan women are emerging as the biggest investors in mid-market real estate, with 62 per cent of property purchases at Eastlands development Casa Mia having been made by female buyers, echoing a trend that has seen women rising globally as property investors since the late 1990s.Women now among top investors in real estateWomen now among top investors in real estate

A study by the National Association of Realtors in the US found the share of house-buying made by single women rose from 14 per cent in 1995 to 21 per cent by 2009, with single woman making up an even larger share of first-time buying, accounting for a quarter of purchases.

Kenya’s mortgage market still underdeveloped despite high demand for houses

By Ben Kinynjui

Kenya’s mortgage market has witnessed an impressive growth in the last decade but the number of loans are till very low mainly due to scanty information available to potential buyers.Housing minister Soita Shitanda says high interest rates hurting sectorHousing minister Soita Shitanda says high interest rates hurting sector

Experts say the prevailing high interest rates as a result of a stringent monetary policy being pursued by the Central Bank of Kenya in an effort to fight high inflation have dampened the market.

High interest rates cause havoc in the housing sub-sector

 

By Ben Kinyanjui

Developers in the housing sub-sector have scaled down building activities due to lack of funding occasioned by high interest rates charged by commercial banks.Housing developers cannot access cheaper money for building due to high interest chargedHousing developers cannot access cheaper money for building due to high interest charged

The move, experts say has led to shortages of houses to buy forcing potential buyers to continue paying rent for apartments they stay hence pushing rental prices high. Ten of thousands of construction workers have also lost jobs.

Nairobi working classes suffer soaring rents, as high interest rates dampen construction industry

By Ben Kinyanjui

House rents in Nairobi have risen 20 per cent in the last two years forcing workers to seek cheaper shelter in the outskirts of the city. Rents in upper market fall as workers seek cheaper shelter in the outskirtsRents in upper market fall as workers seek cheaper shelter in the outskirts

The situation is worsened by the existing high interest rates that have slowed down construction of new housing units to meet the ever rising demand for housing in major urban areas.

Migaa green community introduces property exchange concept that is likely to excite the market

 

 

By Today Financial News Reporter

The Migaa green community in Kiambu has unveiled a completely novel life-time housing model allowing any Migaa resident to upgrade, or downgrade their houses.

A home owner can exchange his house across the range from two-bedroom apartment to five-bedroom villa, as their family needs change over the years.

Housing boom continues despite the slow economic growth

By Today Financial News Reporter

 

Despite the predicted slow down in the real estate sector, a Sh30 billion housing project has been unveiled in Athi River, 28 kilometers from Nairobi Central Business District.Gated housing projects are becoming popular with investorsGated housing projects are becoming popular with investors

Iluluwe gated community housing project that is situated on a 1000 acre piece of land along Athi River will be a top residential facility nestled around a 18 hole golf course, top flight hotel, an ICT centre and a world class care facility.

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