Many Kenyans living and working abroad tend to invest back in their home country, specifically in land due to its low maintenance and potential for appreciation in value. Real estate companies in Kenya have adopted digital solutions to make it easier for potential buyers to access information and make purchases.
Buying land in Kenya from the diaspora can be a complicated process, but with the right information, it is possible to navigate the process successfully. Here are the steps and requirements that you need to be aware of:
A renovated old Boeing in Kitengela
Research: Before making any decisions about buying land in Kenya, it is important to conduct thorough research on the different areas where you are interested in buying land. Some popular areas in Nairobi include Ruiru, Kitengela, Athi River, Juja, Roysambu, Parklands, Kasarani, Imara Daima, Syokimau, Ngong Road, Ngara, Kileleshwa, South C, Utawala, South B, Kileleshwa Estate, Kitisuru, Muthaiga, and Karen.
Identify a reliable agent: It is important to work with a reliable agent who can guide you through the process of buying land in Kenya. Look for an agent who has a good reputation and has experience in helping people buy land in Kenya from the diaspora. You can ask for referrals from friends or family members, or check online reviews to find a reputable agent.
Understand the legal requirements: Buying land in Kenya requires you to comply with various legal requirements. These include obtaining a PIN number from the Ministry of Lands, getting a land search report, and obtaining a title deed. Your agent should be able to guide you through the legal requirements and help you navigate the process.
Know the cost: Buying land in Kenya can be expensive, and it is important to be aware of the costs involved. In addition to the cost of the land, you will also need to pay for legal fees, taxes, and other miscellaneous expenses. Your agent should be able to provide you with an estimate of the total cost involved.
Financing: If you are not able to pay for the land in cash, you will need to explore different financing options. Some popular financing options include mortgages, bank loans, and crowdfunding. Your agent should be able to help you explore different financing options and find one that works for you.
Make sure to comply with the regulations of the diaspora: Many countries have regulations and laws that apply to their citizens who want to buy land in another country. It is important to be aware of these regulations and to comply with them. Your agent should be able to help you navigate any regulations that may apply to you as a diaspora buyer.
Overall, buying land in Kenya from the diaspora can be a challenging process, but with the right information and guidance, it is possible to navigate the process successfully. It is important to conduct thorough research, work with a reliable agent, understand the legal requirements, know the cost, and comply with regulations. With the right steps and requirements, you can successfully purchase land in Kenya from the diaspora. Hao Finder is here for you.
Summary
Processes of Buying Land in Kenya
- Identify the Land: Locate a suitable piece of land and confirm its suitability for your intended purpose.
- Verify Ownership: Conduct a search at the Ministry of Lands to confirm the owner and ensure there are no disputes or encumbrances.
- Obtain a Sale Agreement: Draft and sign a sale agreement detailing the terms, price, and payment schedule.
- Pay Stamp Duty: After signing, pay the required stamp duty (1%-4% of the land value) to facilitate registration.
- Transfer Title: The seller transfers the title deed to the buyer after payment completion.
Requirements for Foreigners to Own Land in Kenya
Foreigners cannot own freehold land but can acquire leasehold land (up to 99 years). Requirements include:
- A valid passport and visa.
- Adherence to the land control and leasehold tenure policies.
- Proof of ability to utilize the land as per the lease terms.
Factors to Consider When Buying Land
- Location: Accessibility, amenities, and development potential.
- Legal Status: Ensure the land is free of disputes and encumbrances.
- Purpose: Whether the land suits your intended use (residential, agricultural, or commercial).
- Infrastructure: Proximity to roads, utilities, and public services.
Documents Required to Buy Land in Kenya
- Original and copy of the title deed.
- Land search certificate from the Ministry of Lands.
- Sale agreement signed by both parties.
- Identity documents (ID/passport) of buyer and seller.
- Proof of payment for stamp duty and other fees.
Need help navigating the process? Hao Finder can assist in making your land-buying journey seamless and secure!