Wednesday, November 12, 2014

Changing countenance of Kisumu real estate industry

If you believe that Machakos County is fast growing County with high chances of buildings and constructions of skyscrapers and roads throughout the country then am very sorry to disagree with you hence I’ll advise you to just have a look at Kisumu County.
Just less than a decade ago, most developing and developed areas in Kisumu County now were completely unique places. Majority of these places were bushes, shrugs, cemeteries and even abandoned places.
In particular, ten years back places like Lolwe estate, Polyview estate, Riat estate, Translakes estate, Ogango environs etc these entire places were bushes and shrubs with scattered semi-permanent structures on them. However if you have a look these locations now, you’ll be a bit more than surprised Polyview and Lolwe estates are now the most fast growing estates in Kisumu County, understanding that Polyview estate was previously a cemetery, Translakes never even existed and Lolwe was an abandoned place, the places have done quite so well with regards to real estate industry is concerned hence the entire credit goes to the Kisumu real estate stakeholders.
Polyview takes the lead in areas preferred by young middle class people (doctors, engineers, entrepreneurs) etc. the properties within the area are designed in a fully organized manner with the most modern designs.
Resulting from this, the land rates have continued to go up due to the reason that the stakeholders in Kisumu real estate are scrambling all over the place to put money in this “hot cake” property with huge returns. The land prices here have escalated tremendously to the fact that a 300 square metersgoes out for about Ksh. 3M which simply signify that an acre is around Ksh. 15M.
One would find it very hard to believe that this magnificent estate with great ambience was previously a grave yard where not a single person would even dare walk on it alone in the night and sometimes even during the day, as a Luo culture it truly was claimed that the people buried there were some times hovering freely in the dark. This belief was shut three decades ago at this moment stakeholders in Kisumu real estate cannot hesitate to acquire and invest in the land since it is preferred by several residents of the lake side region.
Kisumu is a county that is actually fast growing with a lot of natural resources that features real estate sector, tourism sector, and mining sector; fishing industry etc. several investors from abroad have invaded straight into the County to join in in the thriving business of real estate investments in Kisumu.
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