How August 2022 Elections in Kenya will Impact Real Estate Market in Kisumu

Kisumu is one of the areas affected by political activities in Kenya’s political history. Raila Odinga enjoys massive in the county as it is considered one of his vital stronghold. Real estate market in Kisumu has been growing exponentially but with the current political climate, some factors may affect the real estate pattern. We have 539,210 registered voters in Kisumu.

Facts about Kisumu

Kisumu County is in Nyanza Province. It has a land area of 2085.9 square kilometers and borders Siaya County to the west, Nandi County to the north, Kericho County to the east and Nyamira County to the south. The county’s shores are on Lake Victoria, with most of its northern shores occupied by Kisumu City. The Luo people call it “Kisumo” which means “a place to look for food. “The county is comprised of 7 constituencies.

Places to visit in Kisumu

Kisumu County has various tourist attractions that are visited by many tourist who throng the region. Some of the best places to visit in Kisumu are:

  • Hippo Point
  • Kit Mikayi
  • Kisumu Impala Sanctuary
  • Art Markets
  • Kisumu Museum
  • Ndere Island National Park
  • Kiboko Bay

Kisumu City

Kisumu is the largest city in the Western region of Kenya. It is also one of the largest and most important cities in the Lake Victoria basin, along with Kampala, Uganda. Kisumu grew into a town when the railway reached there in 1901. This means that development commenced in Kisumu when construction finally reached there on its completion in 1901 by Mombasa railway. The railway still functions up to date, making it one of Kenya’s premier industrial and commercial centres. Real estate market in Kisumu City has been growing exponentially.

Estates in Kisumu

There is high demand for housing in Kisumu. Some of the estates in Kisumu include:

  • Milimani Estate
  • KenyaRE
  • Riat Hills Estate
  • Lolwe Estate
  • Migosi Estate
  • Polyview
  • Mamboleo Estate
  • Manyatta Estate

Kisumu Real Estate Market

In terms of real estate, Kisumu offers a unique blend of upper-mid to low-income residential units and commercial space that mainly hosts county headquarters. The city’s residential sector is relatively new; most mega-developments have been built in the last five years including Victoria Gardens in Riat Hills and Translakes Estate in Mamboleo. The increase in development is attributable to government decentralization and urbanization. Over the last two years, commercial office space has shown good performance. Some of the factors driving the real estate market in Kisumu are:

  • Positive economic growth
  • Devolution
  • Positive demographics
  • Infrastructure development

Raila Odinga has promised residents of Kisumu the establishment of factories in every sub-county if elected. This will encourage infrastructural development in the interior regions that will enable the growth of the real estate market in rural areas of Kisumu.

He also promised the establishment of a Special Economic Zone that will be key in changing the economic trajectory of the larger Western Kenya region. This will have a big impact on the Kisumu property market which will have exponential growth if implemented. The current governor, Anyang’ Nyong’o who is seeking reelection has also promised more infrastructural projects that are likely to shape the real estate market in Kisumu.

Hotels in Kisumu

Kisumu has some of the best hotel accommodation facilities in larger Western Kenya. Some of the best hotels in Kisumu include:

  • Victoria Suites
  • Acacia Premier Hotel
  • Best Western Kisumu Hotel
  • Riversand Hotel
  • Sovereign Hotel
  • Beach View Hotel
  • Milimani Beach Resort
  • Palmers Hotel Limited
  • Imperial Hotel Express
  • Grand Royal Swiss

Roads in Kisumu

Kisumu has one of the best highways and roads in West Kenya. There are several roads within the city and less traffic congestion as witnessed in some urban centers such as Nairobi. The latest road project is the Kisumu-Muhoroni road that will cost sh.15 billion. Three Chinese firms have won a Sh15.87 billion tender to construct the Kisumu-Chemelil-Muhoroni road in a move that will open up the region.

KeNHA deputy director Samwel Kumba told The Citizen that the State Corporation awarded the contract to China Railways Tenth Group, Sinohydro Company Limited and H-Young Company Limited. The award of the contract paved the way for works on the 63-kilometre road to begin after drivers abandoned the motorway, opting for a smoother Kericho-Kisumu road going through Awasi and Ahero by default.

Works started at the intersection with Kisumu – Kakamega (A1) road in Kisumu at Mamboleo and will progress through Miwani, Chemelil and Muhoroni eventually terminating at Kapsitet junction where it joins the Kericho-Kisumu road.

Related Posts.

What The August 2022 races will mean for the Real Estate Market in Lamu.

How the August 2022 elections will impact real estate market in Garissa.

Construction Sector in Kisumu

Kisumu is banking on the construction of a 46-kilometre promenade along Lake Victoria as it eyes tapping the tourism potential of the world’s second-largest freshwater lake. The initiative launched by Governor Anyang’ Nyong’o will be spearheaded by Kisumu Lakefront Development Corporation (KLDC), which was formed by former Auditor General Edward Ouko.

The construction of the walkway marks the beginning of plans to have Kisumu City face Lake Victoria in a bid to attract investments. The county has already signed a memorandum of understanding with Kenya Urban Roads Authority (Kura) that will implement the mega project set to transform and change the face of the lakeside city. This move is expected to attract potential investors in the city which will spur the growth of the real estate market in Kisumu.

Conclusion

Considering starting a project in the country? Work with the best real estate company that provides proper services and delivers.  West Kenya Real Estate Company is a well-known construction company with well-known architects and beautiful designs of houses we provide construction, property letting, property valuation, management, sale, and house plans. Why should you choose us as your construction company, we are affordable, quality, detailed and modern contact us via email at info@westkenyarealestate.com or SMS, call, or WhatsApp (+254789217685/+25424481087). You can also visit us in our offices in Kisumu or Nairobi.

How August 2022 Elections in Kenya will Impact Real Estate Market in Kisumu
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