In spite of the COVID-19 pandemic-related economic crisis, Kenya’s real estate market has had tremendous development over the past five years, outpacing other industries like the capital markets and tourism.

Construction has slowed down because to high lending rates, but stakeholders believe the industry as a whole is still expanding quickly. In reality, they contend that the diaspora and international investors who obtain funding elsewhere stand to gain. Given that there is a high demand for homes and a limited supply, housing prices are unlikely to decrease.

The diaspora population is currently in the best position to invest using low-interest international loans of 4–8 percent. We advise them to purchase now, while prices are still reasonable, as East Africa’s economic growth is opening up a lot of possibilities. Property values will continue to rise. But the real question is: How quickly will they ascend?

One of the most prosperous economic sectors in Kenya is real estate, which offers higher profits.

Real estate investing has a wide range of fascinating advantages. Consequently, investing in Kenyan real estate presents a fantastic chance to increase your income potential and amass riches. Investors are guaranteed a sizable cash flow, tax benefits, and great returns because to the variety of prospects offered in properly chosen assets.

If you’re a Kenyan living overseas, investing at home gives you an opportunity to help the nation flourish and thrive as well. Aside from this, you will feel content knowing you have a place to sleep when you return or visit home or simply have the piece of mind that comes with a solid investment. Keep in mind that Nicmac Crest has your back!

What you should be aware of as you are ready to start:

1. Define your objectives.

Before starting your investment journey, it’s important to have a clear understanding of your aim to avoid making costly mistakes. Asking yourself crucial questions, such as;

• Do I intend to purchase a home that I can move into later?
• While I’m in the diaspora, am I looking to purchase a home to resell or rent out as a passive income source?
• Am I looking to purchase or construct non-residential structures?
• Do I want to purchase land for farming or for commercial use?

Setting a goal that is both obvious and attainable at the beginning is crucial since it establishes the pace for the rest of your journey.

2. Scout for the right location.

We can understand if you can’t travel back at a moments notice. Therefore, you will need to scout for a reliable individual or organization to select the ideal spot for you. To make this procedure simpler, you should collaborate with a specialist. Many people in Kenya who act as brokers and agents do not have licenses, which can cause complications for you.

Here at Nicmac, we are accomplished experts driven by the market’s demand for opulent, useful dwelling that works for you and is reasonably priced. For all market segments, we have developed cutting-edge, high-quality, and contemporary housing solutions.

3. Engage qualified experts.

Every stage of the way, you should solicit the expertise of a qualified real estate agent or property specialist. This could involve hiring a lawyer to assist with the drafting of all required legal documents and a surveyor to verify the property’s name and position in relation to the registry index map. Using a licensed professional’s assistance allows you to rest easy knowing that your property is in good hands.

4. Never complete a purchase unless you are convinced.

When buying a home in Kenya while residing abroad, you could feel some level of anxiety, even if you are working with a certified realtor.

You might continually ponder issues like;

• How can I be sure I’m investing in the perfect place?
• How can I be sure that I am making the right purchase?
• How can I be certain that the seller is trustworthy?
• When I’m out of touch with trends, how can I be sure I’m picking the right city?

These worries are valid ones. Ask questions to dispel your uncertainties, and have professionals review the specifics for you. Additionally, you might ask for and receive a comprehensive tour of the property, either physically or virtually. With the help of modern technology, conventional real estate firms may now provide this service, which can just be the tipping point in your decision.

Overall, since real estate investments are risky, it’s critical to complete your research and keep learning. In order to reduce your danger, we at Nicmac Crest are accessible to listen to and comprehend your real estate needs. Get in touch with us for advice as well as for sales and lettings.