Trident Heights Riara, which is an apartment complex
consisting of 24 units in three- to five-storey blocks with
each unit comprising three bedroom apartments priced
from Kes 21.5 million and four bedroom penthouses
with en suite master bedroom priced from Kes 37
million.”
Commenting on the market in general, Samani
says key factors which are currently impacting on
market activity and the demand for homes include
the following:
·
Muthaiga, Runda, Nyari, Kitisuru, Brookside and
Riverside. Says Samani: “These are the most suitable for
South African purchasers due to their vibrant, upbeat
neighbourhoods with access to international schools,
shopping malls, restaurants, bars and other amenities.
In addition, rental yields on residential apartments range
up to 7.5 percent for buy-to-let investors. Foreigners can
acquire property or land on a leasehold basis (99 years) in
Kenya and mortgages are easily available.
“Activity in the property market is gradually picking
up as most buyers and investors had put on hold decisions
until the aftermath of the elections. We expect to see
prices rise now that the elections have taken place, and
already we note an increase in stock coming onto the
market as well as a good demand for property.
“From a development perspective we have sold out
two projects namely, Trident Park Langata - which
comprises 45 very appealing maisonettes, each consisting
of four en suite bedrooms priced at Kes 20 million, and
www.reimag.co.za
Location - this is the most important factor
driving the property value and determines how
much appreciation would take place to attract
investment and other buyers.
·
Infrastructure - well-maintained road networks are
attracting purchasers of property. Properties that
have been developed with access to good road
networks experience a strong demand from buyers as
opposed to those without such access.
· Construction - construction of the building impacts
on the value of the building, and elements such as
architecture, design and materials used determine
the worth of the property. Buyers seek properties
with a long life span and sound and appealing
architecture.
·
Land availability - if there is scarcity of land, the
value of properties will increase in specific areas.
Areas situated in the heart of the city are much more
expensive than those on the outskirts. Most buyers
are therefore more inclined to acquire land that
costs less.
·
Amenities - properties that have amenities such
as swimming pools and gyms offer a better price
appreciation as they mostly attract new buyers who
want to experience a luxurious lifestyle.
RESOURCES
Pam Golding
Offshore Handbook 2013
47