Set on a ten-acre estate, the Hogmead residence is now one of the priciest commodities in Kenya’s residential property market, confirming the growing status of Kenya as a prime real estate location More »
The Global Real Estate Transparency Index ranked Kenya top among 14 most improved countries in real estate transparency globally. The Index by consultancy firm Jones Lang LaSalle Index uses a combination of More »
The Kenya homes expo is set to be big this time round celebrating a decade since its inception. the 20th Kenya Homes expo is set to open at the Kenyatta International Conference Centre on the October 30th to November the 2nd 2014. The Kenya homes expo is the biggest homes show in Eastern and Central Africa; an estimated 40,000 visitors attend the three day event annually. More than 140 firms participated in the event last year and the same number if not more are expected for this year. The expo draws local and international exhibitors drawn from various sectors of the real estate industry.
Set on a ten-acre estate, the Hogmead residence is now one of the priciest commodities in Kenya’s residential property market, confirming the growing status of Kenya as a prime real estate location in eastern Africa.
Its owners — Fuzz and Bimbi Dyer, and Andy and Caragh Roberts — had turned Hogmead into a 12-room boutique hotel whose main room cost Sh42,000 a night. The hotel, run by The Safari Company, was indefinitely closed in October 2013 and listed with Knight Frank around the same time. The Dyers and Roberts also own and run the luxury Manda Bay resort hit by cancellations after the kidnapping of an elderly French woman in 2011.
The Global Real Estate Transparency Index ranked Kenya top among 14 most improved countries in real estate transparency globally. The Index by consultancy firm Jones Lang LaSalle Index uses a combination of quantitative market data and information collected through surveys of its global business network.
Property Leo recently launched a new website. The highly responsive, retina ready and dynamic website was done by the Jengaweb Team. The website which took quite a number of man and ‘woman’ hours to achieve, the new layout on display is live at www.propertyleo.com. The Propertyleo website was established in 2008 to provide an authentic Kenyan property website delivering quality, up-to- date and reliable information to the market. Property Leo also launched a newspaper in early 2013 which is a print out of the website. The paper is distributed in major shopping malls across the Nairobi, Kisumu and Mombasa, and will expand soon to cover the whole country.
The paints industry has become very competitive in the last few years especially from the price perspective. Players in the Industry are now focusing on introducing quite competitive prices in the market. Leading paints manufacturer Crown paints while continuing to introduce new and innovative products is keen on regional expansion. Crown Paints Chief Executive Officer Rakesh Rao said his company was firmly on track to entrench its presence in the region using a unique model of setting up mini-plants that feed demand for specific regions.
New roads will be built to connect various parts of Nairobi while old ones will be expanded in an ambitious plan to transform it into a modern and attractive city.
The plan, which was launched yesterday, also proposes to demolish old estates in the Eastlands suburbs to pave way for highrise buildings where city residents can work and live.
It also proposes to revamp railway transport to ease the movement of people into and out of the city in a move that will reduce reliance on matatus and private vehicles.
The Market is one a bounce back after stagnation from the year 2013. More developments are popping up with very competitive prices in the market. According to the Hass Index first quarter 2014 report property prices are bouncing back after a dip of second half of 2013. Apartments registered the highest price bounce of 2.3% on Q4 2013. Rents also registered a strong growth but at a slower rate than previously.
DEMAND FOR HOUSING & OFFICE SPACE
Data from the National Housing Corporation estimates the housing deficits to be between 100,000 – 150,000 units per year in Nairobi alone. The population in Nairobi is projected to almost double by the year 2030 and the shortfall might grow to up to 1.6 million.
Crown Paints has unveiled its third ultra-modern showroom in Mombasa. The new crown show room features the latest innovations in paints and interior finishes. It also offers consumers tips on how to enhance building aesthetics using quality products. It is designed as a one stop colour expression Centre, complete with colour visualizer to simulate room sets.
The color visualizer, a first in the Kenyan market, features a large touch screen that enables customers to explore different colour schemes in varying room settings. Customers can experience a virtual tour of the room while ‘splashing’ different paints on ‘furniture’, ‘floors’ and ‘walls’ to make an informed choice.
Another month, another day, you put down your favorite home magazine only to see your room exactly as it’s always been, missing something. It’s missing that touch that brings everything together in a sort of magical way. Notice I said sort of because while fancy rooms in magazines may appear magical, you can replicate the same in your house regardless of your budget.
Home decorating is often more subjective than it is objective. What works for one house doesn’t necessarily have to be fit for another house. It heavily depends on the shape of the rooms, the taste and preferences of the occupants and of course their purchasing power.
Estimates by the recently released Hass-KPTDA Index estimates that the shortfall in middle class housing in Nairobi alone will be at around 1.6 million by the year 2030. The Government had set a target to deliver 200,000 building units a year but statistics show planned housing builds at only 15,000 units. “Nairobi has declared its intention to emerge as a world class city, but this depends on a sharp increase in construction, where current trends are instead slowing down the development industry’s rate of growth,” said Robyn Emerson, CEO of KPDA.
Such grim statistics show that the Government and Developers are way behind in delivering homes to Kenyans. This creates a need for people to initiate the construction of their own homes. What are the steps and best practices when building your home?