Kenya's economy today is based on two pillars - agriculture and tourism. The country ranks third in the world in terms of tea production. However, the tourism industry plays a key role in the life of the state: it provides 65% of GDP. For 15 years, a significant part of Kenya's territory has been a national park with ample opportunities for safari tours: here you can watch a lion hunt or hippos swim. Photographers from all over the world shoot the world's largest colony of pink flamingos on Lake Nakuru, climbers climb the extinct volcano Kenya, divers dive into a giant sea cave. Many Europeans (primarily Germans and British) have chosen the beaches on the shores of the Indian Ocean in the resort areas of Mombasa and Malindi. The service here is quite European and the climate is mild by African standards. There are two rainy seasons during the year: short (from October to December) and long (from March to early June). The average air temperature during the day ranges from +20 to +27, at night - from +11 to +14. As tourism has developed in Kenya, international demand for quality properties has grown. Some experts estimate that it is now five times the supply from overseas buyers and migrants, who have increased by 80% in five years (according to Stanbic Investment Management Services). Lending conditions in Kenya are closer to Russian rather than European standards, although positive changes are evident. If in the 90s. average mortgage rates were 30%, then by 2009 they dropped to 14.8%. At the same time, mortgages are available for non-residents as well. Loans are now offered by banks and organizations such as Housing Finance, Kenya Commercial Bank, Barclays and Commercial Bank of Africa. The mortgage is issued, as a rule, at a floating interest rate. Experts advise borrowers to carefully study the agreement, especially all the entries in small print, since banks often pass on quite significant costs associated with servicing the loan to the client. House in Kenya? What for? In general, Kenya's real estate market is very diverse. The classification compiled by one of the agencies includes about 10 types of real estate: bungalows, cottages, apartments, maisonettes, townhouses, etc. villages. A significant part of the proposals falls on the secondary market. The bulk of the new real estate is in the capital Nairobi and on the ocean coast. In autumn, in the suburbs of Nairobi, construction began on Tatu City, a multifunctional project with a total area of 1,000 hectares. In 8-10 years, upon completion of the work, the "city" will be able to accommodate 62,000 people. The commissioning of the first residential and commercial properties is scheduled for 2012. For foreign buyers, real estate in the Kenyan capital is primarily of investment interest, while foreigners buy holiday homes by the sea more often. Most of the transactions in Kenya today account for real estate valued from $ 120,000 to $ 250,000. Expensive properties are few - and they are located mainly on the coast. The most famous and expensive resort area in Kenya is Malindi. Complexes with swimming pools, gardens, round the clock service, private beach and other services are often of interest to investors who are counting on rental income. The season here is practically year-round, the income from renting apartments is close to 10% per year, houses bring owners almost half. One of the complexes in the area covers 1.9 hectares of coastline, includes five swimming pools, two restaurants with ocean views, a spa with hot tubs and other infrastructure. All apartments are sold furnished and equipped. Advertising brochures promise rental income of at least 8% per year with a complex occupancy of 50% and up to 27% with a 100% occupancy. In general, prices are much lower than at European resorts. So, for $ 600,000 on the coast between Malindi and Mombasa, in the Gulf of Kilifi, the Blue Roof Villa is offered. The house was built in the mid-1990s. and finished with the finest African woods. The villa has four bedrooms, living and dining areas, a 20 sq. m, a library and a 40 m long balcony encircling the building, which overlooks Kilifi Bay, the yacht club and the hills. The plot has a garage, a staff house, a garden and a swimming pool. For $ 520,000, you can buy 1.1 hectares of land with two houses, swimming pools and parking. The site is located in the Kikambala area, 25 km north of Mombasa and 1 km from the ocean. Real Africa Apart from the typical resort properties - apartments and villas, a very common commodity in Kenya - individual rural houses and land. Very often, such properties are sold with existing farms or plantations. For example, 26 hectares of land on the Sabaki River, 6 km from Malindi, with banana and coconut plantations, citrus trees and a poultry farm can be purchased for $ 1.33 million. Approximately the same price was announced for a 2270 sq. M. Flower plantation. m, where erythematosus, delphiniums and zantedeschia are grown for export, with a five-bedroom house, a gym, a large veranda and a jacuzzi, and a two-bedroom guest house. Building plots on the coast are also offered. The cost of a plot 2 - 2.5 hectares on the ocean shore is 350,000 - 400,000 euros. A much more exotic option is an island with an area of 12 hectares and a cost of $ 2.4 million. There are no human settlements on the island, but there are forests, rocks, beaches, mangroves, antelopes, monkeys and wild pigs. There is clean drinking water and electricity. The nearest major city is Mombasa. Finally, in this country, you can become the owner of your own safari site - a wilderness where animals and birds live and where you can organize excursion tours. A ready-made safari park full of wild animals: lions, leopards, elephants, buffaloes is sold for $ 2 million. The main house and several guest cottages have been built on the territory. The announced income from receiving tourists exceeds $ 300,000 per year. Young and wild The local real estate market is young, the legal mechanisms of transactions are not yet fully established. Therefore, experts urge buyers to be more careful. This implies, firstly, a thorough study of the area in which the object is located. It is worth taking a ride and walking around, making sure there are no slums nearby that make life unsafe in the area. You should study the condition of the roads to the nearest city, center, airport, etc. It should also be borne in mind that frequent interruptions in electricity and water supply are typical for some parts of the country. Experts advise to go to the nearest stores and ask how often such problems occur: the realtor is unlikely to answer questions as honestly as the locals. In addition, experts recommend paying close attention to the due diligence of real estate. This requires making a request to the land administration and the municipal council. This will help to make sure that the seller really is the owner of the property, and to accurately establish the leasehold period if the property was purchased under this scheme. So, you should not purchase an object if the land lease is issued for less than 20 years. In addition, before buying, it is necessary to clarify whether there are any encumbrances on the property. For example, if it was purchased on credit, then, most likely, it is pledged by the bank. So, no matter how tempting the offers in Kenya are, the real estate buyer should not relax.
