Kenya's landscape is varied: here you can find mountainous landscapes with flat valleys and the largest lake Victoria. Most of the country lies inland, but there is also an extended coastline with the Indian Ocean. Now it is one of the engines of African economic development, due to which the number of people wishing to buy real estate in Kenya from a developer is growing every year.
Features of new housing in Kenya
New buildings in Kenya are designed with local climate conditions in mind. They use eco-friendly materials, including local coral stone, and energy-efficient cooling systems, which are not superfluous in the local climate of an average annual temperature of 25-30°C.
Benefits of new housing in Kenya:
- Adapted designs. Buildings are designed with high ceilings, wide windows and ventilation systems for natural cooling.
- Energy efficiency. Solar panels and rainwater collection systems are widely used in construction to reduce utility bills.
- Safety. Gated residential complexes with 24-hour security and video surveillance are being built everywhere, especially in the Kilimani and Nyali areas.
- Flexibility for investors. Developers in Kenya offer installments of up to 24 months when purchasing real estate at the foundation stage.
Cost of new housing in Kenya
Prices for new buildings in Kenya at the construction stage is 15-25% more favorable. For example, in the Greenpark Estate project in Athi River, apartments at the foundation stage cost from $26,000. In Mombasa, apartments with an ocean view are popular for $90,000+ for 80 sq. m. Rental yields are attractive for investors: in Nairobi it is 6-8% per annum, in Mombasa - up to 10% due to high tourist demand.
Average prices for new build properties in Kenya:
|
Property type |
Average area (sq.m) | Average price per sq.m (KES) | Average price per sq.m (USD) |
| Studio | 30–50 | 80,000–120,000 | 619–930 |
| Apartment (2 bedrooms) | 60–100 | 100,000–180,000 | 775–1400 |
| Townhouse | 120–200 | 120,000–200,000 | 930–1550 |
| Villa | 150–300 | 150,000–250,000 | 1160–1930 |
Popular areas of Kenya for purchasing real estate from a developer
Nairobi, as befits a capital, leads in terms of new developments. In Kilimani, 60 sq m apartments start at $60,000. Westlands is popular with expats for its international schools and offices, with prices starting at $1,125 per sq m.
Other popular cities in Kenya:
- Mombasa (Nyali). Coastal area, where projects for tourists and investors are concentrated, costing from $75,000 and with rental yields of up to 9% per annum.
- Watamu. A resort town with a marine reserve and white beaches. Mostly mid-range villas are built here, costing $112,500 per 150 sq. m. Demand for housing is growing by 10% annually due to the influx of tourists, which leads to higher prices.
- Ati River. An industrial suburb of Nairobi where affordable housing developments are being developed at $525 per sq.m.
- Malindi. Another coastal town popular with European investors, with demand for villas with private pools and ocean views starting at $150,000.
