Form groups and invest in real estate, experts
Are you interested in investing in real estate? Well experts are now advising potential property owners in Nairobi to take up shared ownership when investing in real estate.
They say pooling resources to own property is affordable and gives better returns in the short term.
They discourage investors from the old ways of individually straining to own property.
Jonathan Wachira, a manager at Villa Care and one of the exhibitors in the ongoing Homes Expo, said the new style of ownership is behind most upcoming properties in the city such as the Mvuli suites in Ngara.
“It is a good investment style where the investor gets value for their money in a short period of time irrespective of whether it remains vacant for some time because the owners share profits from the occupied apartments,” adds Wachira.
Mr Wachira says there is great potential in building property away from the common leafy surburbs due to the low cost of investment.
He suggested areas like Athi River, Kitengela, Kiambu town and Thika town the new real estate hot cakes.
Investors are also shifting to building commercials properties, as opposed to residential houses, due to the high profits in office space rentals.
Organisers of the 19th Home Expo said it provides a platform for potential investors to get the best deals in the industry.
Chairman of the Mentor Group Daniel Ojijo said this year’s expo focuses on assisting stakeholders to scale to new heights in their investments and buying decisions.
The expo is being held at KICC and will run for four days.