Real estate costs in Kenya get influenced by the proximity to urban centers. Property closer to towns and cities usually demands higher prices than those away from towns. The proximity to town usually dictates the accessibility to resources like banks, hospitals, and schools, all of which get based in towns. Additionally, the proximity to towns will also affect jobs for workers who work in these towns. Working near your place of work makes it easier to travel to and from work in the morning and evening without necessitating extreme schedules. Due to the increased demand to live closer to towns, the cost of real estate near and within towns skyrockets. Convenience is expensive, and having real estate in these regions promises attractive returns.
Accessibility of resources like water, electricity, and sewerage will also affect the cost of real estate. People find it more appealing living in areas with the convenience of tap water, access to electricity, and proper waste disposal. Regions with accessibility to these facilities usually command higher prices in the real estate market. Usually, you find sellers highlighting the access to these facilities to appeal to prospective buyers. In addition to these facilities, the road network also determines the cost of real estate. Buyers are more likely to pay premium prices for property strategically positioned in areas that are easily accessible. The type of road will also affect land prices. Real estate in areas with tarmac roads will be more expensive than those in places with murram roads.
Further, access to major roads will also boost the price of real estate. Major roads will allow settlers within a specific region to quickly access other towns and major cities, in addition to facilities like ports, airports, and railways. Therefore, the development of major roads increases the price of real estate.
The number of settlers within a specific region will also influence the price of real estate. Usually, buyers will look for areas with existing immigrants, which consequently makes the area appealing. The higher the population, the greater the appeal for the region. Psychologically, people associate higher settlement with more excellent stability and contentment, and thus makes prospective buyers yearn for similar experiences. Further, the types of homes within the area will also affect the asking price of real estate. Usually, real estate in areas with predominantly permanent homes, especially mansionettes, will fetch higher prices than those with semi-permanent dwellings.
