In the words of Andrew Carnegie, who was among the wealthiest industrialists and philanthropists in American history, 90 % of all millionaires become so through owning real estate.
If your goal is to become part of the percentage, investing in real estate means that you are embarking on the best investment journey of your lifetime.
Many people shy away from real estate investment since they think it is scary because it requires a lot of money. This is incorrect.
Prospective investors in Kenya believe that Nairobi, the country’s capital and commercial hub, is the best place to invest.
Nakuru County is set to become the next great destination, particularly in real estate.
According to the UN-Habitat, Nakuru is among the fastest-growing towns in the region due to its strategic location along the Nairobi-Nakuru-Eldoret highway. The town boasts of several infrastructural developments, such as expanding the Nakuru-Nairobi highway and upgrading various roads that inter-connect several suburbs, which has opened up the town for investments.
The newly constructed multimillion shillings Kunste interchange at the Nyahururu turnoff continues to ease traffic when getting into town while providing a picturesque view of Nakuru. Following such crucial developments, Nakuru now has witnessed the emergence of factories, for instance, the construction of the cement factory along the Nairobi-Eldoret highway.
Other infrastructural developments include upgrading the Lanet Airstrip to a fully-fledged airport that will handle large passenger and cargo planes. In addition, the extension of the Standard Gauge Railway (SGR) to Naivasha and the upcoming Industrial Park make Nakuru a prime area to invest in, whether buying land or in agriculture.
Besides, such growth means that the population is set to grow faster, and people will require houses to rent or property to purchase. Therefore, investing in real estate in Nakuru is a wise move and guaranteed Return On Investment (ROI).
The mentioned developments will open up the town not just to local investors but foreign investors as well. The Institute of Economic affairs postulates that it is easier to start a business in Nakuru town than other popular towns in Kenya, stemming from the reduced tax burden that has made the county an investment destination in the recent past.
The Youngest City in Kenya
The elevation of Nakuru to a city saw the World Bank give Nakuru Ksh 1 billion for urban growth projects as the town gears up to become a city. This has effectively made Nakuru attract both local and foreign investors making it grow in leaps and bounds.
As per the County Land Price Report of 2018, the price of land in Nakuru rose by an average of 12.7%, where real estate investors reaped substantial benefits. Although the price increase, Nakuru has relatively affordable residential land near Nakuru town and along the main highway.
For instance,Username Investment limited, one of the leading real estate company selling 1/8-acre plots in Nakuru city, at ksh 629,000 only, overlooking a serene and calm environment perfect for building your home.
Always remember that Real estate investors who buy property own something concrete for which they can be accountable.