With an increasing housing deficit of more than 156,000 units annually and an estimated shortage of two million units overall, the property market in Kenya holds great potential and great risk: while the significant housing deficit provides an ideal investment opportunity, there’s the threat of rampant fraud and fleecing.
Researching and counter-checking the available ways of searching for housing in Kenya can significantly reduce the risk of falling prey to fraudsters and swindlers who are eager to capitalize on the mushrooming Kenyan property market.
Registered Estate Agents
The majority of properties are under the management of real-estate agents who are responsible for not only managing properties but also connecting sellers and buyers, valuing properties based on prevailing market conditions and offering useful insights about renovations and home improvements.
More often than not, real-estate agencies operate in urban settings in Kenya, and most are independent firms or agents.
Perhaps the oldest if not most common way of searching for real estate in Kenya – most property owners advertise in the local dailies and there are hundreds of listings every day. This is the medium used most often to fleece potential property buyers and investors-proceed with caution.
Word of Mouth
Often used in rural areas where real-estate agencies are rare and newspaper reading is the privilege of a few, word of mouth has proven effective in getting the best deals.
Web Portals & Social Media
Web portals are the newest way to search for real estate in Kenya and they are growing at a high rate due to increasing competition among Kenyan real-estate organizations. Popular web portals include:
However, social media networks such as Facebook are gaining ground as the fastest and most affordable platform for promoting and searching for real estate in Kenya.
Author : James E Harrison
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