REAL ESTATE NEWS

Nairobi has distinguished itself as a frontrunner in Africa's rental market experiencing a substantial 28% increase in rental rates over the past three years. This upward trajectory can be attributed to a confluence of factors that have reshaped the city's real estate landscape. The surge in demand…

The transformation of Utawala exemplifies the rapid urbanization occurring in Kenya's satellite towns. Once a wild, uninhabited area frequented by hyenas, Utawala has evolved into a bustling neighbourhood over the past two decades. Canisius Makori, now 38, was among the early settlers who…

Homeowners and investors are at risk of losing their properties as financial institutions and banks take assertive measures to recover loans. This surge in auctions has particularly affected areas like Kitengela which has emerged as the focal point of this trend. In Kitengela, several mansions,…

Nairobi has emerged as one of the world's most cost-effective cities for construction projects. This is according to a recent report conducted during the first quarter of 2024 by Turner & Townsend. The survey highlights that the Kenyan capital's average construction cost stands at an affordable…

Kenya's real estate market is bracing for major changes as the Kenya Property Investors Association (KEPIA) raises alarms over an imminent rent crisis. The association forecasts a staggering 25% surge in rental prices, a direct consequence of the heightened tax burdens introduced in the proposed…

A novel project in Kenya is harnessing the potential of 3D printing technology to tackle the affordable housing challenge in Africa. Mvule Gardens, situated in Kilifi County, represents the continent's first large-scale initiative of its kind. This groundbreaking venture, spearheaded by a Swiss…

Kenya and the United Nations have signed a Memorandum of Understanding (MoU) to bolster the development of Konza Technopolis. Konza is a planned smart city located south of Nairobi. This agreement signifies a strategic partnership between Kenya and the UN aiming to leverage the expertise of various…

A recent report by Hass Land Price Index highlights the enduring profitability of land investment in Kenya. Property owners in Nairobi's surrounding satellite towns have witnessed remarkable growth in their holdings. The report indicates a staggering 11.79-fold increase in land value across…

The Nairobi County Government is implementing a multi-pronged approach to increase revenue generated from land rates. This initiative aims to bridge the financial gap required for smooth county operations. According to the Nairobi City County Fiscal Strategy paper for 2023, the county seeks to…

A proposal by Nairobi Governor Johnson Sakaja to allow the construction of skyscrapers in various parts of the city has ignited controversy. More than 26 professional and resident associations have emerged in opposition, citing legal and environmental concerns. These groups argue that the Governor'…