Kenya property market on the up

23/06/2011 - Kenya property & investment news Posted by Bob Brunskell
Kenya property market on the up

Kenya property investors could see a boost in the market over the coming months after Kisumu hosts the Homes Expo tomorrow (June 24th).A host of exhibitors will be at the event and hope to uncover the potential opportunities the city has.Samson Murethi, an investment analyst for special projects at Shelter Afrique, claimed, however, that more funding is needed to meet the high demand for property in Kisumu."There is a high demand for housing but underfunding is an impediment. I feel the event will make our prospective customers realise how much they can benefit from us," he said.Indeed, the Standard Media reports that annual demand for housing in Kisumu is 3,000 units, but supply is just 500, which means that landlords are also charging high rents. Demand has largely been put down to the opening of a new university in the city and growth in the banking sector.However, since post-poll troubles in 2007, Kisumu has recovered well and there are now around six new residential estates in the city, including Kajulu Gardens.