Availability of Land for Real Estate Development .
Land for Real Estate investment is available. Upmarket land for investment in Nairobi city CBD is available in Upper Hill, Westlands and Kilimani areas. Middlle class market land is available in surburbs 30 km radius from CBD in areas such as Rongai, Ruai, Ruiru and Kiambu.
Low class land is available in areas 50km from CBD in areas such as Kamulu, Isinya, Mai Mahiu and Thika/Juja farm.
Rate of Land in Various Counties
Land price varies depending on location. The most expensive is Nairobi CBD land at rates of kes 400 to kes 500 million per acre. The cheapest is in areas around Kangundo and Juja farm, costing around kes 1 million per acre.
Average Rate of Newly built Houses in Nairobi & outskirts
Approximately 20,000 units are built in Nairobi each year, while the demand for housing is at least 200,000 units per year.
Major Players of Real Estate Market in Kenya
Major players in Kenyan real estate include Banks, Savings and Credit Societies/SACCOs and international investors.
Support of Kenyan Banks for Housing Projects for Foreign Companies
Kenyan banks support foreign companies in Real Estate investment. Kenya Government has a policy that encourages foreign investors into the Real Estate sector.
Govt. Projects in housing for Social Developments
Kenyan Government, through National Housing Corporation, works on housing projects within social dimensions.
Will Federal Govt. / Counties provide land for Developers to build housing Complexes?
Each County Government is independent in policy decisions regarding provision of land for developers. Some counties have such arrangements.
Standard Design of Houses in Average Income Area ( 2 or 3 Bed Room )
www.a4architect.com can come up with standard designs for houses. Fees for design services are as outlined below
What is the General Trend of Market in terms of Housing ( Type of Houses, No of Bedrooms, Type / material of Construction, Prices Prevailing in the Market)
For upmarket areas eg Upper Hill, high rise mega structures of 20 floors are coming up for residential housing. For middle class areas, row housing, in maisonette design are coming up. For low cost areas, houses in own compound are coming up. Land cost and availability is the major determinant for the trend, with areas where land is expensive, having high rise structures so as to house more families within the same land hence economies of scale towards land cost.
Do you have any contacts in Higher Levels of Banks Like : KCB /Housing Finance Kenya/ CFC Stanbic / Standard & Chartered / Barclays etc (only High officials in respective banks dealing with Housing Finance)
Yes. We work with all major banks and have contacts at the top managerial sectors.
Architect Francis Gichuhi Kamau,
info@a4architect.com
0721410684
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