Property demand rises outside Nairobi

10/02/2011 - Posted by Bob Brunskill
Property demand rises outside Nairobi

Property development opportunities in Kenya are growing outside Nairobi because of increased demand for affordable housing.

A report by the Business Daily Africa has found that there has been a marked upsurge in the construction of new housing units in Naivasha, Kisumu, Mombasa, and Nakuru.

Describing this as "a trend that is expected to ease demand pressure on Nairobi and help tame price inflation", the news source also suggested it could add a new dimension to property market growth in Kenya.

It observed that a newly-rich middle class - which is seeking "quiet peri-urban homes" but is unable to afford the prices of such properties in the capital - is stimulating the increasing real estate market activity outside Nairobi.

"Real estate market analysts however say Nairobi remains the best bet for property investors looking for high returns from resale or rental income while the peri-urban developments and outposts are suitable for those looking for holiday or retirement homes," added Business Daily Africa.

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