Where is the Mombasa Property Market shifting to?
The secret to great gains in the real estate is to identify where people are going and arrive ahead of them.
This strategy affords the investor to buy high value property at a good bargain, before prices appreciate due to demand.
All our projects are anchored on this strategy to ensure our customers are always ahead of the market demand and in return secure superior returns in their investment. At themoment, our focus is in the coast region, particularly West of Mombasa City.
Mombasa being an island, is connected to the three main lands namely the South Coast, North Coast and West Coast. Among this, the property market has for a long time favoured the North which starts from the high end Nyali and flows into the high density zones of Bamburi, Utange, Shanzu, Mtwapa, Kikambala down to the new low density and premium Vipingo zone in Kilifi County.
The ever growing demand for commercial and residential land has steeply escalated property prices in the North, with a 50 x 100 plot valued from Ksh. 3.5M upwards depending on the location. This scenario has largely locked out the middle and lower class individuals from affording the properties. In construction, Land is the single most expensive unit of the budget, a factor.
However, this is changing. The property market is now shifting to the West, and the current destination is Mariakani, 45 minutes’ drive from Mombasa City.
At Oligro, we understand the Coast property market, and we know what’s happening in Mariakani and why you should not hesitate to invest in a property in this emerging economy.