The capital city of Kenya is currently experiencing a boom in real estate, and there’s no better time to get into the business than now. The good news is that there are opportunities galore to be had in Nairobi for both expats and locals. If you’ve always wanted to own a piece of Nairobi property and are from outside the country, now is definitely the time to jump in. Here’s why you should buy property in Nairobi now.
The country has continued on its great growth, being the fastest growing economy in East Africa. It has many resources that contribute to its success, and is the fourth largest oil producer in the world. It’s a stable country politically, with a moderate Muslim-Christian majority and the second largest military. The key to success in this part of Africa is attracting private capital to help finance development.
Now that the country’s economy has grown, the demand for property in Nairobi has risen sharply – both from locals and international investors. Property prices have risen sharply in recent years but remain far below those seen in comparable African cities. If you’re looking for an investment property, Nairobi should be of particular interest to you, as it offers excellent growth potential. Property prices are likely to increase more in coming years.
A major attraction for visitors to the country is the Mombasa International Airport – the busiest airport in Kenya. It connects Nairobi to Kenya’s major cities and is served by all major airlines. It’s also well-connected to the rest of the world, making it a great choice for visiting family members, or even for visiting Nairobi for the first time.
Living conditions in Nairobi remain comfortable and convenient – but they aren’t perfect. Traffic congestion is a problem, especially during weekends. The main street, Mombasa Street, is also a major commercial street. Shop owners often cater to tourists with expensive products, and you may need to bargain to get the best deal.
You’ll find that Nairobi is not all about security. Although the city does have many pockets of violence and crime, the police and National Police Force (NPF) do take good care of the city. They routinely patrol the city and deter crime from occurring. You’ll rarely experience any problems, if you follow the law. There are a few exceptions, however – theft, especially of foreign currency and goods, is commonplace, and is a problem.
Property in Nairobi is very affordable. Prices are competitive and there are many different types of property available. There is real estate to suit every budget, and prices are constantly fluctuating. Property prices have dropped slightly in recent years, but they remain above average. The country’s growth potential means that prices will only go up from here.
Nairobi has a reputation for being one of the safest countries in Africa. It is home to the majority of officials who are known to be carrying out their duties with fairness and integrity. In addition, Nairobi enjoys good relations with its international partners, and is a popular destination for expats and immigrants. Because it is such a stable country, many people choose it as their birthplace. You can’t help but be drawn to this beautiful city, and after deciding why you should buy property in Nairobi, it should only take a matter of seconds to decide whether or not it’s right for you.
Nairobi’s natural beauty is well known throughout the world. This is evident in the numerous prestigious awards, the country has garnered, which include being one of the “greenest” countries in the world. When it comes to housing, Nairobi has it all – some of the most expensive properties in Africa are located here. They include luxury villas, mansions, townhouses and small plots. The city also has a vibrant business sector which, although not as developed as other parts of the country, has continued to grow at a steady rate.
For a large segment of the population living in Nairobi, private rented property is more common than that of public rented property. This is especially true for the rural communities, where many people still own cattle and other livestock. It is a much quieter scene than many of the urban areas, and you can really appreciate the charm of nature and peace when you are living in Nairobi. Property in this part of the country is affordable, secure and, most importantly, allows you to experience a sense of community.
Another reason to buy property in Nairobi is the language. The city speaks English, and while there are many languages spoken locally, most residents can speak English. You will find that many expats speak a language which is similar to English or know some English speakers who can guide you around. Being able to communicate with others in your new home is important, and being able to talk the local language will come in handy. This will ensure that you will have an easier time adapting to life in Nairobi.