How is real estate going to look in 2023?
2022 has been a fairly good year for property buyers as the economy rose from the plunge it had gone into during the COVID-19 pandemic.
Making predictions about real estate can be difficult because of various factors but we can rely on historical data and trends to gauge what it will be like in the future.
Investors might benefit from real estate next year as there is a rise in value and higher demand for affordable housing in the country. With demand comes competition and you need to be fast in taking on the opportunities that present themselves. The demand is a result of rapid urbanization and population growth.
The growth of real estate is because of the government’s investment in public infrastructure. The manifesto has the development of infrastructure projects as one of its agendas which means that this avenue is yet to be explored. The improved roads, railways, ports, and upgrade of key airports open up different areas to be invested.
If you are interested in investing in real estate in Kenya, it is essential to do your research and due diligence to understand the market and make informed decisions. This may include studying economic and demographic factors and consulting real estate professionals.
It is also important to consider your own financial goals and risk tolerance when making any investment decisions.
Certainly investing in real estate should be part of your 2023 resolutions. Happy Holidays!