Real Estate News
The latest real estate news for the Kenyan market.
A Fresh New Experience for Your Next Move: The New BuyRentKenya Is Here
Can Landlords Ask for Proof of Income Before Renting You a House? What Kenyan Tenants Need to Know
Stability or Stagnation? What the CBK’s 8.75% Rate Hold Means for Kenyan Homebuyers
Subscribe to our newsletter
Expert property news, straight to your inbox.
Browse by category or keyword
All Real Estate News articles
139 articles in Real Estate News · page 10 of 12
Are REITs a Good Investment? Investing in REITs in Kenya
Real Estate Investment Trusts (REITs) allow investors to reap real estate benefits without a huge initial capital outlay. REITs are regulated by the Capital Markets Authority and the Retirement Benefits Authority, making them a safe investment option. The return on investment on REITs ranges between eight and 12% per annum. This return investment becomes substantial, considering it is compounded over the investment period. Like many other investment channels, REITs have advantages and disadvantages. And being a fairly unknown form of investment, a lot needs to be unpacked. So, what exactly are REITs and are they a worthwhile investment opportunity? Known as Real Estate Investment Trusts, REITs is an investment vehicle used by real estate companies to raise capital for real estate development. <
KMRC’s Affordable Mortgage Options for Middle-Income Buyers
The KMRC affordable mortgage will be disbursed through Co-operative and NCBA Bank. Only individuals earning Ksh 150,000 or less will be considered for the mortgage. The KMRC mortgage interest rate is between 9.5% and 9.9% for a 15-year mortgage, which is cheaper than the industry average of 12.9%. The Kenya Mortgage Refinance Company is set to offer affordable mortgages to make home buying affordable for middle-income earners. KMRC, which is partially owned by the Kenyan government, was licensed in September 2020, and it offers home-buying loans to people earning Ksh 150,000 or less. According to a joint press statement KMRC and Co-op Bank issued, “To ensure that the affordable mortgage benefits the intended users, only Kenyans earning not more th
A New Era for ILAM Fahari I-REIT as CMA Approves Operational Restructure
ILAM Fahari I-REIT embarks on a Kshs 402 million restructuring effort, offering a premium of over 82% for up to 36.5 million units. The REIT’s distributable earnings surged by an impressive 39% to Kshs. 141.9 million in the previous year. The upcoming transaction provides an opportunity for IFIR’s Non-Professional Investors to redeem up to 36,585,134 Units, each valued at a redemption offer price of KSH 11 per unit. ILAM Fahari Real Estate Investment Trust (FAHR), a prominent player in the real estate investment sector, is set to embark on a significant operational restructuring effort. READ ALSO : Are REITs a Good Investment? Investing in REITs in Kenya The Nairob
Are Hostels the Future of Real Estate Investment?
In 2022, Acorn Holding Limited announced a plan to invest Ksh 3.6 billion in hostels. Studies show there are over one million post-secondary educational institutions and vocational centers in Kenya, which has led to increased demand for hostels. Hostel rooms occupy less space than apartments and have shared bathroom facilities. Making them more profitable per square meter. With most young people moving to urban areas, this trend has come with a growing demand for affordable accommodation. Hostels have become an increasingly popular option for young people looking to live in an affordable, safe, secure, and fully furnished living space. Not to mention most of these establishments are in strategic locations, preferably within the city. READ ALSO: 2022 Real Es
Sacco Loans Fund 33% of Fresh Homeownership, Study Shows
33.2% of Sacco loans in 2022 were for land and homeownership The percentage the previous year (2021) was 26.9% 680.4 billion shillings was lended by a total of 359 regulated Saccos In a recent report released by the Sacco Societies Regulatory Authority (SASRA) for the year 2022, it was disclosed that land purchases and homeownership plans collectively represented a significant portion of the fresh credit disbursed by savings and credit cooperative societies (Saccos) during the same year. Table of Contents Saccos’ lending allocation across various sectors
Absa Bank Kenya and Unity Homes Partner to Revolutionize Home Ownership in Tatu City
Unity Homes and Absa Bank Kenya have forged a partnership aimed at enabling prospective homebuyers to acquire houses within Tatu City through an affordable housing scheme. In a groundbreaking move, Absa Bank Kenya has joined hands with Unity Homes , a leading affordable housing developer, to pave the way for prospective homeowners to acquire residences within the esteemed Tatu City under an affordable housing financing scheme. READ ALSO : Tatu City Strengthens Kenya-China Relations with Investments This partnership will see the provision of Kenya Mortgage Refinancing Company (KMRC) backed mortgages, extending up to 25 years, in a bid to make homeownership more accessible. Under this collaborative effort, potential buyers wh
Top 5 Most Bizarre Buildings in Africa
Have you ever seen a house, building, or structure that’s incredibly strange? Or maybe you’ve wondered what it’s like to live in a place very different from the usual houses made of stone or brick, with regular walls, windows, and doors. Well, there are some really bizarre buildings all over the world that are nothing like what you’re used to. They offer a unique way of living, and they’re just as much like art as they are homes. In Africa, a continent known for its diverse cultures and beautiful landscapes, you’ll find some of the most unusual and special buildings. These buildings break all the usual rules of architecture and will truly amaze you. READ ALSO : The Most Expensive House in Kenya In this article, we’ll take a tour of so
Brushing Up Costs: Kenya’s Paint Prices Set to Go Up
Premium paints are set to surge by up to 7.5% and economy paints up 5% effective this September This is due to the recent 15% imposition in exercise duty on imported paints Consumers and builders in Kenya are bracing themselves for a significant increase in paint prices, with manufacturers citing a perfect storm of factors driving up costs. Effective September 1, 2023 , prices for premium paints are set to surge by up to 7.5 percent, while economy paint products will see a 5 percent increase. Table of Contents Factors Behind the Paint Price Hike Manufacturer’s Perspective and Consumer Impact
Real Estate Events in Kenya This September
Embark on an innovation-filled journey with industry leaders this September in the vibrant world of real estate. This September, there are 2 notable real estate events happening in Kenya, one of them being an award ceremony that BuyRentKenya has been nominated for. Don’t miss out on shaping the future. Subscribe to our real estate newsletter at the end of the article for updates on upcoming events. Table of Contents Real Estate Top 100 Awards Event Summary IFLA World Congress 2023 Event Summary
Retail Therapy: The 7 Biggest Malls in East Africa
Prepare to embark on a journey through retail extravagance and shopping splendor as we delve into the vibrant world of East Africa’s grandest shopping destinations. In this exploration of retail magnificence, we’ll uncover seven of the biggest and most captivating malls that East Africa proudly showcases. From Nairobi’s bustling metropolis to Kampala’s vibrant streets, these malls not only redefine the shopping experience but also stand as impressive landmarks of commercial and architectural prowess. Join us as we venture into these retail havens, where shopping transcends into an immersive adventure. Table of Contents BBS Mall Eastleigh Two Rivers Shopping Mall, Limuru Road Garden City Mall, T
Analyzing BBS Mall’s Impact on Eastleigh’s Property Market
The recently launched Business Bay Square Mall is now the largest in East and Central Africa. BBS Mall is a mixed-use development that rivals the Two Rivers Mall. The mall has a shopping complex, hotel, hospital, mosque, and residential apartments. As of March 2023, Ruaka land prices after the opening of Two Rivers Mall had surged to 98.3 million per acre. This price is higher than an acre of land in Kitisuru, Runda, and Karen. If you have ever been to Eastleigh, also coined ‘Small-Mogadishu’, then you must be familiar with the mayhem that exists. Shopping at popular Eastleigh stalls, is usually a depressing experience due to the narrow roads and high traffic of cars and human beings. Over the years, the experience has become so dreadful that it has le
Effects of Recent Dollar Strength on The Real Estate Market
Construction cost will be more expensive as imported building materials will now cost more due to the weakening shilling. Other costs related to the real estate industry are also expected to increase due to increased inflation. Final cost of houses will be affected by the increased product and service cost leading to higher rental rates and selling prices. Over the last three years, the dollar has gained significant value over the Kenyan shilling. The US dollar’s value increased from Ksh. 101 in January 2020 to Ksh. 124 in January 2023. This resulted in the devaluation of the Kenyan shilling and the unexpected soaring of prices of raw materials. “Most commercial banks in the country have dollars. What’s happening is that those dollars are not being released to the market,” according t