Statistics show that over three million Kenyans live in diaspora, a good number of them are looking forward to settle back in Kenya upon retirement.
The real estate industry in Kenya has grown exponentially.
Below are top 5 areas where majority of Kenyans who are living in diaspora are channelling their money when it comes to real estate investment in Kenya.
Having made friends and networks while abroad, Kenyans are now owning land together and with preference to these areas.
The town’s proximity to Nairobi CBD and Ngong Hills has attracted majority of Kenyans living in diaspora who would like to settle in a serene environment away from the hustle and bustle of the city.
In the last couple of years, Ngong town has undergone rapid growth in all sectors and this has driven up land prices.
It has rapidly become another bedroom for Nairobi City residents.
It is one of the best performing satellite towns attributed to the ongoing infrastructural developments such as Ngong – Kimuka - Suswa tarmac road, expansion of Ngong Road, the Southern Bypass and Ngong SGR and SGR Station.
With properties selling with prices below Ksh 1M, majority of Kenyans living in the UK, USA, Qatar and Germany are buying land in Ngong.
Konza area is the second area that Kenyans in the diaspora have been investing in massively. This Is because Konza City has greatly taken shape and investor are already reaping benefits.
Key infrastructural developments that have been completed include; the National Data Centre, Konza administration block, access roads, power supplies, SGR & SGR Station among others.
The Nairobi Expressway is currently under construction and is to branch off just past Konza.
This road is set to make access from Konza to Nairobi CBD convenient and this will further open up Konza area for real estate investments.
With eye for areas with highest real estate capital gains in Kenya, Kenyans in diaspora are purchasing affordable plots in Konza area in groups and as individuals.
Kangundo Road is located within Nairobi Metropolitan area giving Kenyans an opportunity to live and access Nairobi CBD conveniently.
Land and plots for sale in Kamulu, Kantafu, Joska and Malaa areas are on high demand. 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.
In a few years’ time, majority of Kenyans living abroad will occupy a number of estates here.
Nakuru has risen in preference as a residential area due to it serene environment and its fast growth. Being the fastest growing town in East and Central Africa according to the United Nations it has continued to attract investors from all fronts.
Nakuru Town 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.
This will further increase transport convenience for investors looking forward to settle in Nakuru upon retirement.
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.
Kenyans living abroad are diversifying their real estate investments and they are owning properties in Machakos as well.