Wednesday, November 12, 2014

Changing countenance of Kisumu real estate industry




If you think that Machakos County is fast growing County with high prospects of buildings and constructions of skyscrapers and roads throughout the country then am very sorry to disagree with you hence I’ll give you advice to simply have a look at Kisumu County.
Just less than a decade ago, most developing and developed areas in Kisumu County now were completely unique places. The bigger number of these places was bushes, shrugs, cemeteries plus abandoned places.
For instance, ten years back places like Lolwe estate, Polyview estate, Riat estate, Translakes estate, Ogango environs etc these entire places were previously bushes and shrubs with scattered semi-permanent structures on them. But if you have a look these locations now, you’ll be a bit more than surprised.Polyview and Lolwe estates are now the most fast growing estates in Kisumu County, understanding that Polyview estate was once a cemetery, Translakes never even existed and Lolwe was an abandoned place, the places have done quite so well with regards to real estate industry is concerned hence the entire credit goes to the Kisumu real estate stakeholders.
Polyview takes the lead in areas preferred by young middle class people (doctors, engineers, entrepreneurs) etc. the properties within the area are built in a fully organized manner with more modern designs.
From this, the land rates have continued to go up due to the reason that stakeholders in Kisumu real estate are scrambling everywhere to spend money at this “hot cake” property with huge returns. The land prices here have escalated tremendously to the fact that a 300 square meters goes out for about Ksh. 3M which simply show that an acre is around Ksh. 15M.
One would find it very difficult to be aware of the fact that this magnificent estate with great ambience was previously a grave yard where no-one would even dare walk on it alone in the dark and also even during day/daytime, as a Luo culture it was actually believed that the people buried there were some times hovering freely in the dark. This belief was shut three decades ago and now stakeholders in Kisumu real estate cannot hesitate to obtain and invest in the land since it’s preferred by several residents of the lake side region.
Kisumu is basically a county that is fast growing with lots of natural resources which includes real estate sector, tourism sector, and mining sector; fishing industry etc. several investors from abroad have invaded directly into the County to participate in in the thriving business of real estate investments in Kisumu.
For more on Kisumu real estate news visit: www.westkenyarealestate.com

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