Real estate is a profitable but risky venture for investors. Only a handful of investors have mastered the real estate sector and the dynamics that come with it.
Real estate investors are always on the lookout for properties to invest in either to settle their families or for future investments. There are many areas that are considered hot real-estate investment zones, especially for future investments.
Ngong town and Kangundo road are among the areas considered to be hot for real estate investment. Everyone who looks to invest in real estate is first advised to put their money in one of these areas.
Ngong is a bustling town 30 kilometers from Nairobi’s CBD. Its proximity from the City Centre has seen it grow rapidly over the last couple of years. The rapid growth of the town has also hugely affected land prices in the area.
The recent tarmacking of Ngong- Kibiko Suswa Road which has opened up the area for commercial and residential development. Properties in Ngong that were selling as low as Ksh 200,000 are now selling at Ksh 700,000 and the rates are expected to increase further this year.
Its proximity to town is among the reasons why Ngong road grew rapidly but the availability of varied means of transport to get to Ngong is making land prices skyrocket even faster. The ongoing dualling of Ngong road is expected to ease traffic to the town.
The completion of Standard Gauge Railway and the Ngong SGR Station have further opened up the area for investors.
Generally, Ngong town’s location has made the town grow to what it is. It has made land prices grow as well. The town is also close to Ngong Hills which is an excellent holiday destination for Nairobians who come hiking away from the city’s noise, pollution, and congestion.
Ngong area also has easy accessibility of building materials due to close proximity to quarries which makes it easy to venture into construction.
According to County Land Prices, Ngong has consistently been recording high appreciation of land prices averaging at 12.9%
Just like Ngong Town, Kangundo road is a hot real estate investment zone because of its location. Kangundo is a cosmopolitan area and Nairobians prefer investing here due to its proximity to Nairobi’s CBD.
As more Kenyans move out of the heavily congested and costly capital of Nairobi, Kangundo road is proving to be a top choice for them. The area enjoys improved public transport and businesses have opened along the area.
Kangundo Road is already being expanded to become a dual carriageway to ease traffic. Land prices in this area have been increasing rapidly. A size of land that was selling between Ksh 100,000- Ksh 200,000 is now selling between Ksh 400,000 to a million.
Machakos County has increased spending on infrastructure in the area from Ksh347.4B to Ksh396.8B, therefore, the area will continue to witness increased infrastructural developments. This is why investors are now looking to buy property in Kangundo.
Land prices in Kangundo road and Ngong town rising fast because the two areas are considered the next hotspots of development.