Why property value will continue to be on the increase in the near future in Kisumu real estate

Property value in Kisumu real estate has so much increased. This is definitely making it hard both for the investors and the tenants. Land is an asset that appreciates. This is the same with property such as a building. When you buy and develop it, it appreciates.

Now, this is a free advice to us all. Anyone who’d want to engage in any manner of investment in Kisumu real estate will have to make an effort of starting now since it would be something different in the near future.

It beats my imagination to learn that land prices have risen since the last 4 years, to four times the rate of properties. The price of land is basically expensive. A particular piece of land for example in Milimani estate in Kisumu is today going at Ksh 100Million, an amount that has multiplied almost 20 times. Now this is the same thing happening in other parts of Kisumu. It therefore calls for investors to start investing in this sector as early as now.

Why will there be increase in the property value in kisumu real estate?

As the trend is, things are going to change very soon in this sector. The following are some of the reasons why property values will change.

First of all, Kisumu is an urban city, the third capital city of the Republic of Kenya for that matter. In five or ten years to come, Kisumu city will be like Nairobi city. Things will have changed. There will be so many developments. There are some structures that will have to be demolished so as to put new ones. Being a city, the demolition of old structures will be a necessary action so that it looks modern, and the same will also attract investors. For example, there are some old houses that are occupied by the Asians in the city. After these will have been demolished, there will be more opportunities for construction of more, which of course will be of a higher cost. It is then advisable that you invest in kisumu real estate as early as now so you’ll save much money in the future.

Another reason is the population factor. Kisumu has a very big population. Being an urban city, many people have been seen shifting from the rural areas to the urban area in search of job and business opportunities. This has made the city be flooded with people. It however presents a lot of opportunities, since there’s the need for rental houses. If this continues to be the trend in Kisumu, then investing in Kisumureal estate in the near future will be damn expensive, since many people will be fighting for their survival in the city.

Again, Kisumu being an educational center, Kisumu real estate will have no choice but to increase the price of its properties. With its 2 leading universities, namely Maseno and Great Lakes Universities, plus several middle level colleges and the national and county schools, there’ll be need for additional accommodation facilities, which will of course be at a higher cost.

This therefore is a wakeup call to anyone who’d want to invest in Kisumu real estate to take it up as soon as now and wait not for any other time.