Why Kenya has captured the interest of foreign investors
Kenya has seen a rise in 2016 and the first quarter of 2017 in real estate prices according to the Kenyan National bureau of statistics, with real estate outperforming other asset classes, with investors making solid returns in some cases of more than 25%.
Real Estate accounts for 9% of the national GDP and is set to make a gradual rise. Investors have made healthy returns from land situated close to the capital city Nairobi.
Kenya is considered a steady performer in the African real estate landscape, over the last five years it has played host to a number of large scale investments into the infrastructure attributing to an expensive fiscal policy allowing the financial support of large-scale projects. Over 4billion dollars has been invested into a Chinese backed rail project to develop a railway system across Kenya of more than 470 miles from Djibouti to Addis Ababa the capital of Ethiopia.
This development marks one of the biggest investments to take place by the Chinese in Eastern Africa. The influx of foreign direct investment has helped to underpin an already buoyant market but as prices are still moderate in local currency (Kenyan Shilling) in comparison to neighboring countries, Kenya looks like a strong contender for foreign investors looking for a piece of the new frontier, Africa.
API-Africa Property Invest are hosting a series of events in Kenya to assist in demystifying real estate and residential investment, if you are a land owner, developer or potential investor interested in this market please contact us for more information.
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