With all the analysis, i'd agree with what many of you have said. Getting the right location is the Key to a superior investment, followed by involvement of right people who setup the project strategically.
@Country Girl, allow me to give you some critical input, in regard to Konza City and surrounding area (such as Kisaju).
First: Follow the money
Approx KES 40 billion has been agreed to be financed by an Italian financial company for phase 1 of Konza city, and the construction has already commenced by an Italian contractor on 3rd August 2018. I am not sure how the recent rejection of the National Budget bill 2018/19 affects the Konza city. In short this is a boost to the project.
Second: Due diligence
sparkly mentioned something very important, that is:
Quote:check the master plan of the area ... zoning and density restrictions, main infrastructure works, public utilities etc
There is no point of buying a land where land is located under the agricultural zone and then expecting to get a change of use to Commercial/residence! It will just not work out for you in terms of future productivity/price appreciation.
Third: Be careful of the hype
Konza may have distorted the local prices, so go somewhere close by, like the nearest town such as Isinya or Kisaju! It's in between Nairobi & Konza. As Hardwood wrote:
Quote:Most of the small towns are deficient in good housing. You can get an acre or 2 at a good price and build a "residential estate"
I suggest buying a 1/8 or 1/4 plot in, for example Kisaju Town, provided it is under the right zoning for future productivity. The key word here is Town (Location Location Location!) This is because if you want to collect about 1m in rent each month after the next 15 years, try finding a potential economic hub now! In short, don't be completely dependent on Konza, it will move at it's own phase. This is best put by sqft who wrote:
Quote:His point was that you can never go wrong investing in land within the city and suburbs when you are young since the city will continue growing exponentially
Fourth: Best use of the Land
There is nothing to add here because Angelica _ann explains it better:
Quote:We must start seeing land as a factor of production and stop focusing on this 40 by 80 speculation plots crazy *curse word' that is the fixation of majority middle class in Nairobi.
Get a 50x100 plot, but you must think beyond speculation. For example can you build a 4 storey building on it immediately if you wished (of course you would build it 8 years to come). Moreover, Kate_Mbarire mentioned
Quote: West Suites is Nairobi’s answer to the affordable living concept in the heart of Nairobi West. The project has 168 modern, self contained studio apartments on 13 floors.
I would agree to her to a certain extant, but these homes of about the 250sqft or 25sqm is just not what a growing family wants!! A growing family will need a much bigger spaces and at the same time affordable and near an economic activity. So, in this case Konza sounds nice, but not reliable until things speed up exponentially, thus making places such as Kisaju/Isinya (Nearest growing towns near Konza) appropriate.
SOLUTION & Existing Projects
@Country Girl:
For example Sere park is an entertainment zone with mix residence for middle class income owners/families and a great spot for premium & affordable apartments for professionals looking to buy their first property. The location details of the project are:
· Project site is on Tarmac of Namanga Road, in Kisaju town. Kisaju is 15Km ahead of Kintengela Town.
· Approx. 27Km to Konza City.
· Approx. 20Km Proximity to new proposed Nairobi-Mombasa Express highway in Dec 2018.
· Approx. 5km Proximity to new Isinya - Ngong road (This road helps in Avoiding Mombasa road traffic during peak hours in the future).
· Approx. 35km from Jomo Kenyatta International Airport.
· Approx. 50Km from Nairobi CBD.
· Less congestion and affordable land prices relatively compared to Nairobi CBD.
· Proposed cities coming up nearby in a 55Km radius includes; Konza Technology City in 5000 acres, Green Isinya city in 1000 acres & Newtown city in 1000 acres.
· With 3 Universities nearby, including RAF International University, KAG university Kenya & The East African University
And here is sere park's official facebook group for latest updates. They are still on the planning phase and require some feedback from the public:
https://www.facebook.com/groups/484313738656031/
Most importantly
@Country Girl, if you are looking to buy a small plot i.e. like 50x100ft in a controlled estate in a strategic location, with the purpose to build in the future, near sere park in Kisaju town, you can email their team on
sereparkkenya@gmail.com for more info