Home/Blog/To Let or not ren...

To Let or not rent affordable apartment blocks in Nairobi - Kenya

affordable housing

Was orriginally published at digital.haofinder.com on June 20, 2019

Owning a home in Nairobi.

Owning a home in Nairobi is every Nairobians ultimate goal. You can see most kenyans browsing for buy real estate online and asking friends where to find houses for sale in order to tap a share of these property for sale in nairobi kenya. For the rich and wealthy, they are busy on property listing websites such as property24 and lamudi to find townhomes for sale.

Housing and Accommodation Demand in Nairobi.

Recent times have seen frequent changes in wants and demands in the housing and accommodation sector, it is pertinent that we appreciate the tastes of consumers in order to be informed on consumer trends. In an African city where more than 80% of city dwellers rely on rented property; real estate companies and government housing departments need ensure sustainable housing for the urban population.

Housing, residential choices is explained based on home buyers’ statistics; in this item, household composition, their income, current house situations, economic status and technological advancement.

Main Factors that determine where to stay around Nairobi City.

To begin with, consumers need to understand the housing or apartment features of their desired houses. Are the houses furnished with the features that suite their wants? Let us solve this rhetoric of house features.

Such features include building qualities, like, exterior and interior designs, influence the before mentioned consumers determines their preference. Scholars for instance, would prefer good ventilation and features like French windows;

The nature of the buyer/tenants job matters much. A musician or any artiste for instance shall need space for his instruments or tools. As a constructor, would you have put this to concern?

Commercially, in buildings meant for offices, we recently developed the aspects of smart offices. This is a trend that has transitioned the office space. Modern day consumers desire offices equipped with extras like entryways for people living with disabilities, a cafeteria and some to the extent of having amenities like a gym in the office.

Secondly, the environment of housing area is imperative and comprises of several key factors to the eyes of customers such as the condition of the neighborhood, physical appearance of the area and neighboring, density of housing, wooded area or tree coverage, slope or topography of the land, eye-catching views, open space, non-residential uses in the area, vacant sites, traffic noise, level of owner-occupation in neighborhood, level of education in neighborhood, level of income in neighborhood, security from crime, quality of schools, religious composition of neighborhood (Adair et al., 1996)[1]. Past studies also found that these environmental factors were important determinants of household’s residential purchase decision.

Environmental also involves legal factors. Planning permissions can affect the style of housing that shall either appease the potential developers or repel them.

Another important and recently a rising factor is the brand developer. A Brand Developer is an agency or individual tasked with the responsibility of maintaining in terms of quality, value and trust in the consumer. Its key role is to create a positive perception in the consumer’s mind.

A developer brand is regarded as important consideration made by a house buyer. Who is in charge of marketing and brokerage of the houses? How popular and prioritized are they to the consumer? Study has shown that property purchasers are brand conscious in relation to the property developers. Furthermore, they ranked developers based on the brand personality and they emphasized on trend, professionalism and investment as the top 3 priorities in the property brand. In addition, a developer image does have a strong influence on house purchase intention.

Lastly, the income level of the urban dweller. Financial status has been defined in relation to house buying as combination of house price, mortgage loans, income and terms of repayment. More so, this definition refers to mortgage availability, terms of purchase, house price, assessment value of property, opportunity for quick appreciation, and waiting period.

The financial of house has much influence on how consumers make their house choice. The financial consideration especially house price has a very strong influence on house purchase intention. Covered under this includes the resale value, location, extra costs like stamp duty, repairs, furnishings, etc.

Affordable letting

Summary (Where to live in Kenya):

When looking to buy or sell property in Nairobi - Kenya, It is necessary to understand the property market dynamics. As much as every kenyan desires to own a home of their own, renting ins inevitaable. Finding invaluable certified apartment blocks for rent in Nairobi is a journey of patience.

For the above reasons, Hao Finder exists to provide all kenyans and visitors verified property search assistance. We employ modern proptech methodologies and a network of locality experts (Uber -like) to deliver all home oppportunities within 48 hours.

Share this article