Riayn Group Unveils New Division for Westlands Property Deals


Posted July 2, 2016 by TinaSmith

Kenya’s capital Nairobi’s best-known suburb is Westlands. The place is very popular with property investors as it gives the highest real estate returns. It is growing at a robust pace driven by the growing middle class’ desire to own homes.

 
Kenya’s capital Nairobi’s best-known suburb is Westlands. The place is very popular with property investors as it gives the highest real estate returns. It is growing at a robust pace driven by the growing middle class’ desire to own homes.

According to the MD, of real estate group Riayn Group in Nairobi, There’s a lot of property for sale Westlands and is growing fast as it’s giving high returns.

He noted that Westlands has a big office market. As Nairobi is home to thousands of employers, world famous companies to niche brands are moving to the city.


Considering the high appeal of Westlands property among domestic and international investors, Riayn Group has launched a special division to service those clients looking to buy office space, commercial property, resorts, or residential property.
The MD quoted expert reports and said the return on real estate investment is highest in the Westlands area at 7.2 percent, mainly located in 10 key residential areas.

The rental yield from a three-bedroom apartment in Westlands can offer Sh150,000 a month while the sale price is Sh25 million. Property prices in adjoining Kilimani, Ruaka, Lavington, Ongata Rongai, Kitengela, Thika Road, Karen, Lang’ata and Kasarani are also growing proportionately.

Higher investment along infrastructural nodes and development of bypasses such as Ruaka and Karen have expanded action in real estate development zones, noted the MD.

According to the MD, demand from millennial youngsters in the age group of 21 to 35 in Nairobi has created an opportunity for development being customized to meet their needs.

Explaining the new division’s target business, he said the youth segment that is driving the higher supply of middle-income housing in Westlands and its surrounding suburbs will be effectively serviced.

“The major basis for real estate market being the growing middle class led by a vibrant residential real estate investment. More projects are adding to the supply, which will continue,” he said.

Data by the Kenya National Bureau of Statistics said the real estate sector annual growth has been 5.4 per cent.

He said the focus will be on buy to let developments which are thriving in the area. They will be coordinated well in association with other real estate agencies. The best sites around Nairobi will be chosen to develop such constructions.

He said investors need agencies with honed expertise to help them. In the highly competitive Nairobi property market, buyers are supported by agencies in terms of location, size and type of real estate investment.
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Issued By Tina Smith
Website Property for Sale Westlands
Phone +254 0734 719 052
Business Address Fourth Floor, Empress Suites, Jalaram Road, Westlands P.O Box: 39841 - 00623 Nairobi, Kenya
Country Kenya
Categories Real Estate
Tags property for sale westlands
Last Updated July 16, 2016