Category Archives: Property and Mortgage news in Kenya

Nairobi, Mombasa and Kiambu have most expensive rental homes: Study

According to a report released by the Lands and Urban Planning Ministry, residents of Nairobi County are the ones who pay the highest rents in the Country. They are followed by Mombasa and Kiambu.

The most expensive neighbourhoods are from Nairobi fetching the highest value in the rental market. The report has it that 58,248 houses rent is above Sh20,000 per month. Three quarters of these are in Nairobi while 7,009 (or 12 per cent) are in the neighbouring Kiambu County.

The county of Mombasa owns 7% of the most expensive rental homes, Eldoret owns 1% of the most expensive homes in the whole country, its then followed by Lamu, Kericho, Kakamega and Isiolo.

Kenya government to earn Sh7b windfall with new Capital Gains Tax.

The Government expects to earn Sh7 billion over the next six months from Capital Gains Tax which comes into effect from January 1, 2015.
This comes as the revenue office lifts a 30-year-long suspension on taxing gains made from the transfer of property and securities, a move that has caused disquiet in some quarters. “Kenya cannot hope to enhance tax mobilisation and improve tax productivity as long as fiscal policy continues to shield high growth sectors from taxation,” said John Njiraini, KRA Commissioner General.

Firm unveils Sh22 billion real estate project in Kajiado

Cretum Properties on Tuesday launched a Sh22.7 billion real estate known as Green Isinya City. The office blocks, maisonettes, schools, high end eateries and police stations will sit on 1,000 acres in Kajiado County. The infrastructure begins in the next two weeks followed by ground-breaking in February next year.

All invited for the Kenya Homes Expo October 2014

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.

Nairobi’s priciest home up for sale at Sh565 million

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.

Finding a home in Kenya just got easier.

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.

Nairobi County Government launches New Infrastructure Plan

 

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.

Housing Finance introduces construction solutions dubbed Makao

Integrated financial services provider, Housing Finance Group has unveiled over 50 home construction designs aimed at delivering access to quality and affordable housing to the middle and lower end of the market.

The designs marketed under Makao, will offer a seamless end-to-end building solution involving consortia of building professionals and Housing Finance.The consortium of professionals will include a team of architects, project managers, quantity surveyors, legal advisers, civil and service engineers and contractors.

Housing Finance Group, Chief Executive Officer, Mr. Frank Ireri speaking during the launch noted that the demand for housing in Kenya is high driven by the growing population and rapid urbanisation. Additionally, Mr. Ireri noted supply of affordable units’ falls short of demand, a situation that has been exacerbated by inadequate supply of affordable stock of housing units. Above all, the growth in middle income brackets

Nairobi lacks good offices, says new industry report

KENYA: With Nairobi being one of the most lucrative real estate destinations in the region, it is emerging that the industry is not capitalising on its potential. A new report by Mentor Management Limited has revealed that few developers are meeting the demand for office space in the city.

The report, released last week, revealed that many developers are not building offices that are in sync with what many companies are looking for.

The Growing & changing landscape of Nairobi’s Metropolis

Nearly all of the tallest buildings in Kenya are to be found in Nairobi. Except for maybe Bima towers in Mombasa no other building in Kenya can squeeze itself among the top 20 buildings in the country. Nairobi dominates in anything that has to do with real estate in Kenya; whether residential or commercial.   Nairobi is Kenya center of innovation, industrialization, education and culture. It also generates almost half of Kenya’s GDP and employs 25% of Kenyans and 43% of urban workers in the country.  The city is also hosts the United Nation’s regional headquarters and is also home to Coca Cola, General Motors and Google headquarters. Nairobi is home to three quarters of the millionaires in Kenya having 6, 200 high net worth individuals.