This website uses cookies to ensure you have the best experience. Learn more

The Future Of Property Market In Kenya

806 words - 4 pages

The Future of Property Market in Kenya
Over the last few years the property market in East Africa, and by extension Kenya, has witnessed a boom. However, it is uncertain in the minds of policy makers, investors, financiers and developers whether this exponential growth in the sector is indeed a boob or a bubble.
Key pointers that indicate this is a boom and is in fact here to stay are highlighted in this paper.
First, it is a fact that the property market growth in Kenya is demand generated. This is so as the country’s middle class, a group that is able to comfortably service their mortgages, is expanding and with this expansion comes an increase in the demand for property ownership. Due ...view middle of the document...

Finally, with the rise of devolved governance the general demand for housing units in all the 47 counties of Kenya is at a record high. This is because County governments are on a hiring spree in a bid to set up operations in their respective units of administration. All this new hires need and demand housing, and are further empowered to take mortgages so as to develop or even buy property. This frontier of property boom could be described as extraordinary as it might not happen again, since the county government will only be set up once.
It is worth mentioning that neither the private developers nor the government has been able to satisfy the current property demand to date, as the housing deficit is estimated to stand at 100,000 units per year, and growing. With the market for the middle income housing described as far from optimal, the shortage on the housing for the low-income group is even deplorable. The demand for low income residential housing way exceeds the supply. It is estimated that over 2million Kenyans, approximately 400,000 households, living in Nairobi are in need of decent and affordable housing. This compared to the 6,000 low income units produced annually lives a gap that can only be filled through informal settlements that are ever mushrooming.
These gaps have led to exorbitant charges from financiers, developers and investors and if all...

Find Another Essay On The Future of Property Market in Kenya

The Importance of Mau's Achievement of Independence In Kenya

1205 words - 5 pages would be attending to discuss the future of Kenya. Before attending the meeting, Macleod had already made two major decisions regarding the matter. The main decision he made was to make sure that in the government in Kenya, black Africans would be represented by the majority and not the Asians or Europeans and the previous constitutions had lead to. This pleased the Africans, as they knew they were finally being acknowledged

The Effects of Infertility on Families and Marriages in Kenya

899 words - 4 pages This paper will discuss the effects of infertility on families and marriages in Kenya. It will draw conclusions from the works of Cui (2010) from the World Health Organization and Dr. Fathalla (2010) who has been published in the Journal of Reproductive Health. It will cite the works ofDr Gamal (2010), President of the International Federation of Gynaecology and Obstetrics (FIGO) as well as Erickson and Brunette (1996). It will also outline the

The Division of Property

2379 words - 10 pages The earth is now inhabited by myriads of animals including humans. The resources seem abundant and there is no system to regulate what belongs to each. There have been many theories on the best approach to justify taking resources for oneself or sharing everything amongst each other. There are multiple philosophers who have different ideas for how property should be handled. Should property be held in public or private? Plato and Socrates are

Intellectual Property The state of Intellectual Property Law and the current debate in modern society

1836 words - 7 pages Intellectual property refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.Intellectual property is divided into two categories: Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source; and Copyright, which includes literary and artistic works such as novels, poems and plays, films, musical works

The History and Current Status of Kenya

1238 words - 5 pages INTRODUCTION: Kenya is a state in the great lakes region of east Africa; it is bordered by Somalia, Tanzania, Uganda, south Sudan and Ethiopia to the north. It has a population of 43.18 million people. Kenya’s economy is market-based, with few state owned enterprises and maintains a liberal trading system. Its GDP is at $40.70 billion and has a GDP growth of 4.6% as per 2012, with an inflation rate of 9.4%. Kenya is seen to have a well

Legal Analysis of Intellectual Property Rights in the Character 'Guthi'

763 words - 4 pages LEGAL ANALYSIS OF INTELLECTUAL PROPERTY RIGHTS IN THE CHARACTER ‘GUTHI’ “A certain artist and a stand-up comedian associated with the programme Comedy Nights With Kapil aired on Colors television channel is planning to launch or be associated with other shows. Take notice that Viacom18 has sole, exclusive, absolute and unlimited ownership rights of all the intellectual property rights of the artist associated with the programme including the

Kenya: The Anchor of East Africa

1236 words - 5 pages cabinet members from both the Orange party and the National Unity Party in order to avoid the revolts from the past. This also established a sense of national unity. After a two-decade struggle, Kenya created their second constitution. Passed on August 4th, 2010,the new constitution added both large and slight changes to the government in order to prevent future conflicts between Kenya’s main ethnic groups. It also provides an extensive bill of

The Kikuyu and Kamba People of Kenya

2892 words - 12 pages fighting in Europe and gain more respect by becoming a student so that he could have an intellectual respect to his name. The influence of international politics on Kenyatta made him want a brighter future for Kenya by wanting freedom from the British Empire. After fifteen years, Kenyatta returned to Kenya in 1946 and was quickly accepted as a Kikuyu leader. Despite his absence he was not forgotten by his people. (Friedman, 1975). By this time

Property Rights in the West

2184 words - 9 pages established government in the west did not mean that it was a “Wild West”. They claimed that the west was really not so wild and that personal rights were maintained and established in the west. Anderson and Hill presents historical cases to defend their claim, all centered around this economic idea of the preserve the property rights of the people. It is first important to understand property rights in economics. It is quite hard to imagine a

Effect of Liquidity on the Financial Performance of Deposit Taking Microfinance Institutions in Kenya

1365 words - 6 pages performance with a keen look at the liquidity of these financial institutions. RESEARCH PROBLEM The microfinance movement is growing at a phenomenal rate in Kenya, for example, the average year-on year increase in the portfolio of the Kenyan microfinance sector over the period 2004-2009 was 107% (as compared with a mere 4% increase in commercial bank lending in 2008-09). According to FSD (2010), in the year 2009 microfinance institutions in Kenya were

Selection of the supplier for a property company "North Eastern Property Managers", Supplier selection process in purchasing

2965 words - 12 pages IntroductionIn this research paper, we are told to make a "selection" of the plumbing items supplier for a property company named "North Eastern Property Managers" (NEPM), the property companies main functions are assumed as "fixing and installing the plumbing part of the property only" in this paperwork.NEPM has spent over 400,000 a year for the purchase of various kinds of plumbing supplies such as: pipes, tees, elbows, and many small

Similar Essays

The Impact Of Globalization On The Kenya Labor Market

969 words - 4 pages edge to enjoy tremendous market powers: monopoly or oligopoly on the supply side, and monopsony or oligopsony on the demand side (Blue Hippo).” Due to the inefficiency of the system it was even more difficult for Kenya to gain ground in the global economy and thus their economy became impaired which in turn negatively impacted the evolution of their labor market. Globalization To fully understand the impact of globalization on the Kenya labor

Intellectual Property And The Future Of The Music Industry

2464 words - 10 pages Corruption, Conscience, and Copyright: The Current State of Intellectual Property and the Future of the Music Industry “Today’s pirates operate not on the high seas but on the Internet, in illegal CD factories, distribution centers, and on the street. The pirate’s credo is still the same--why pay for it when it’s so easy to steal? The credo is as wrong as it ever was. Stealing is still illegal, unethical, and all too frequent in today’s

The Country Of Kenya Essay

1229 words - 5 pages Kenya is located on the eastern coast of Africa. It is approximately 224,960 miles squared and is about the same size as Texas. Kenya had five main geographical regions: Lake Victoria Basin, northern semiarid desert, eastern plateau forelands, Rift Valley and other highlands, and coastal areas. Kenya has two rainy seasons and has an average of 80oF along the coast. There is a tropical climate on the coast and an arid climate in the interior

The Case For The Redistribution Of Ecotourism Gains In Kenya

3655 words - 15 pages decreased by 85 and 97 percent respectively . In 1991, the Kenya Wildlife Service was created with the following goals: - To conserve the natural environments of Kenya - to use the wildlife resources of Kenya sustainably for the economic development of the nation and for the benefit of people living in wildlife areas - To protect people and property from injury or damage caused by wildlife (Kenya 1990a) Ecotourism