FACT: Land is an asset that continues to appreciate every year. Around Nairobi for instance, the price of land has continued to rise thanks to the increased demand for land, improved infrastructure and the availability of different amenities in some of these areas: water, graded roads, and electricity. When looking for a prime plot, the best time to buy is when the price versus demand is low and the area has potential for growth.
Some of the areas with utmost potential for growth and located in the outskirts of Nairobi and nearby counties. Already, some of the fastest rising real estate companies have set up offices in some of these areas where they are offering real estate development services and prime plots. The big question is, what are some of these areas? To answer this, we take a look at the top five areas you as a land investor can invest for less than Sh. 500, 000.
- Kangundo Road
Currently, satellite towns along Kangundo Road are the most lucrative areas to buy land in with fully serviced 50*100 plots selling for less than 300, 000 shillings.
Townships such as Kamulu, Joska, and Malaa have continued to grow thanks to the increased demand and the availability of different resources. In an area like Malaa, about 45-minute drive from CBD, a major land vendor around the area offers a fully serviced 1/8-acre plot, only 6 km from the tarmac for as little as Sh. 399,000.
Real estate reports continue to rank areas around Thika as being the most preferred areas to buy land in. These areas, about 50 km from the Nairobi CBD, are said to be most affordable and prime with an acre of land costing about 9 million shillings. In these areas, an 1/8 an acre will fetch as low as Sh. 500,000.
Kajiado is the other area around Nairobi with the most affordable commercial and residential land. In Kitengela township, located about 30 km south of Nairobi, there are some places that a 50*100 plots sell for less than Sh. 500,000.
The price is a bargain considering the close proximity to the capital city, availability of a number of social amenities, and the existence of an elaborate transport system to and from the city.
- Mombasa Road
Syokimau, Katani, Athi river township, and other towns along Mombasa road are also considered affordable and prime areas one can invest in. Regardless of the high appreciation rates, there are still some places around one can find land for as low as Sh. 500, 000. Most of these areas are more 50 KM from the CBD.
As land in satellite towns around Nairobi continue to appreciate and increase in price, the demand for land by those working in Nairobi is slowly spreading to other areas outside the city, case in point is some areas around Nakuru. While Nakuru is close to 200 kilometres from Nairobi, the town represents the greatest potential for growth outside the Kenyan capital. Nakuru has been billed as one of the fastest growing towns in the east African region and is already slated for upgrade into city status.