Own Your Piece of Kenya: How the Evolving Market Helps Young Kenyans Own Property

Owning land in the 21st century has tremendously changed compared to the pre colonial years, as more private institutions join the industry in offering affordable solutions to aspiring home owners and investors, creating robust growth in the industry.

With financial literacy and education being easily accessible to younger generations at an early age most of them find themselves at a high advantage of understanding how an asset works and owning one by the time they hit 30.

Some of the improvements and transformations in the real estate market include:

• Increased demand for affordable housing.

A majority of Kenyans are quickly realizing their need for housing near social amenities where they can raise their families in a stable and secure environment.

Developers and companies are responding to this demand by building more affordable housing units including apartments and townhouses, in serene areas.

• Availability of financing solutions catered for you:

With Kenya Mortgage Refinance Company increasing the mortgage rate to 10.5M it offers a wide variety of mortgage options to home owners when choosing their desired house typologies.

Also real estate companies partnering with financial institutions to offer flexible financing options to investors and homeowners has greatly boosted the younger’s generation ability to own assets early on in life.

• Focus on financial literacy by financial institutions, real estate firms and influencers on social media platforms.

With the increase of technology adoption in the Kenyan market a majority of the population have access to smartphones and the internet, breaking the barries of communication with financial institutions and their audience.

Their has been a major shift on the type of content that is being produced by companies online with a majority of them offering quality advice and investment tips one can take in improving their financial status.

Also partnering with influencers has made it possible for financial content to thrive and reach more people on all platforms and has made it easy for users to learn and be aware of investments they can own.

• Expansion of retail and commercial real estate. 

With population increase experienced in the region majority of developers and firms are coming up with new developments and products to cater to the broad market from commercial zones, to mixed use developments, this creates a diverse set of products that consumers get to enjoy and are quite near to urban amenities and infrastructure.

All these factors play a significant role in increasing ownership among the young professionals in removing the barriers that once existed in previous generations.

• Shifting Market Trends

Focus on Rentals: Investing in rental properties can be a lucrative way for young professionals to build wealth and potentially use future rental income as a stepping stone to homeownership.

Technological Advancements: Online platforms and virtual tours make property searching more convenient and efficient, saving time and resources.

Improved Infrastructure: Better transportation networks and amenities in developing areas make these locations more attractive to young professionals.

Also development becoming decentralized in satellite towns and upcoming neighborhoods, offering attractive price points, modern infrastructure and amenities making them ideal for those seeking affordability and convenience.

In Conclusion

Whether you’re looking for a cozy starter home or a plot to build your dream home, the possibilities are endless.

So do your research, explore your options, give us a call and take advantage of this exciting time to own your piece of Kenya!