INVESTING IN KENYA’S REAL ESTATE MARKET DURING AN ELECTION YEAR

Kenyan politics has traditionally been tumultuous, and with campaign commercials already airing, most investors are likely to hold off on making investments until the political climate calms down. As usual, in an election year, Kenyans will adopt the wait and see attitude. But remember also that money pours in during election time.
Regardless of who the candidates are, research and industry experts agree that the closer the election comes, the more likely its effects on housing will be. We have seen several presidential candidates put out their affordable housing proposals; however, the election’s impact on residential real estate is still yet to be completely realized.
In general, presidential elections create uncertainty in the housing market, causing buyers, sellers, and investors to change their minds, affecting sales volumes and values. It is wise to invest in either a complete or near-complete house in the run-up to the elections to benefit from the upside once the economy stabilizes.
If you intend on buying, perform due diligence to know if what you are buying is legit, do background checks and find out whether the seller is tax compliant and has the right documents.
This is to avoid getting caught by fly by night companies; today they are there, tomorrow they’re gone. Look for companies that have been around for 5–10 years and have done successful projects because they have a reputation to maintain.