How August 2022 Elections in Kenya will Impact the Real Estate Market in Nakuru County.

Nakuru County has 941,619 registered voters as we head towards the August polls. It is one of the counties with the highest number of registered voters after Nairobi and Kiambu. It is one of the country’s economic bedrock and it will be interesting how August polls will impact the real estate market in Nakuru.

Facts about Nakuru

Nakuru County is located in the former Rift Valley Province of Kenya, about 90km from Nairobi. It is an agriculturally-rich county blessed with various tourist attractions such as craters and lakes. According to the 2019 Kenya Population and Housing Census, the population was 2,162,202 with an annual growth rate of 3.4%. The major economic activities include subsistence and commercial farming, tourism, geothermal power generation, small-scale trade, dairy farming, and flower farming. Agriculture is the backbone of the county’s economy with maize, beans, cowpeas, milk, beef, and mutton being the common produce. The county is divided into 11 constituencies.

Places to visit in Nakuru

Nakuru is one of the most visited counties by tourists in Kenya. Tourism is a major contributor to the economy of the county. Some of the best places to visit in Nakuru include:

  • Lake Nakuru National Park
  • Hell’s Gate National Park
  • Mount Longonot National Park
  • Menengai Crater
  • Hyrax Hill Pre-historic site and Museum
  • Kigio Wildlife Conservancy
  • Kariandusi Pre-historic Site
  • Crescent Island Game Conservancy

Nakuru City

Nakuru town was elevated into a city last year after it achieved all the requirements to become a city. This boost is important to the growth of the real estate market in the city. Nakuru City is the capital of Nakuru County and has a population of approximately one million people. Agriculture, manufacturing, and tourism are the backbones of the economy of Nakuru. The local area surrounding the city is known for its vast agricultural potential with numerous small farms and also vast agricultural enterprises. The main crops grown around Nakuru and marketed in the city include coffee, wheat, barley, maize, beans, and potatoes. These crops are stored in massive silos on the outskirts of the city by National Cereals and Produce Board.

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Estates in Nakuru

There is the high population in Nakuru has led to the establishment of many estates. Some of the estates in Nakuru include:

  • Section 58
  • Kiti
  • Langalanga
  • Pangani
  • Shabab
  • Bangladesh
  • Milimani
  • Lanet
  • Freehold
  • Ngata
  • Bahati
  • Afraha
  • London

Nakuru Real Estate Market

Nakuru City has experienced a significant increase in demand for apartments compared to owner-occupier or single-family residential houses and offices. This is due to the growing demand for more housing units in the country’s newest city and rising population, coupled with high prices of land. The apartments are concentrated mainly in upmarket areas of Milimani, Kiamunyi, and Naka, while others have started coming up in middle-income areas such as Freehold and Shebab Estates within the city. And in some areas of the city, homes, and mansions sit on expensive and expansive land. The combination of monthly mortgage, insurance, maintenance and repairs, and property tax payments are at times higher than monthly rental costs.

Deputy President William Ruto has promised Nakuru residents a Cabinet Secretary slot and over 40,000 jobs in his administration should he clinch the presidency in the August 9 polls. Raila Odinga has promised farmers in the county cheaper fertilizers should he clinch the presidency. The elevation of Nakuru town to city status has set the pace for real estate booming. Both promises are vital in the growth of the real estate market in Nakuru.

Hotels in Nakuru

As a result of high tourism activities in the county, hotel accommodation facilities remain to be in great demand in Nakuru. Some of the best hotel accommodation facilities in Nakuru include:

  • Sarova Woodlands Hotel and Spa
  • Eagle Palace Hotel
  • Grand Winston Hotel
  • Legacy Hotel and Suites
  • Buraha Zenini Hotel and Resort
  • Eastmark Hotel
  • The Ole-Ken Hotel
  • The Alps Hotel Nakuru

Roads in Nakuru

Nakuru County is one of the biggest Kenyan counties in terms of area and population. This means that the Department of Infrastructure has a huge responsibility to provide services such as passable roads, functional stormwater drainage, and rapid response to disasters against a backdrop of scarce resources. Nakuru County has 9, 654.10 kilometers of roads. Agriculture is the lifeline of the people in most Nakuru sub-counties, enhanced connectivity through the provision of adequate roads by the County Government cannot be gainsaid.

Construction Sector in Nakuru

Nakuru County government has invested Sh1.6 billion in the construction of new markets and refurbishment of existing ones to boost the region’s economic growth in the past two years. In addition, the government has allocated funds toward the construction of the Naivasha Wholesale market (Sh600), the ultra-modern market in Nakuru City (Sh600 million), and the Naivasha fish market (Sh240 million) among others. The construction of a Kshs 239 million modern fish market at Karai Centre on the Nakuru-Nairobi highway has started with the contractor already setting up reinforced concrete pillars. The project is a partnership between the County Government of Nakuru, the Eastern Africa Grain Council (EAGC), and the Rockefeller Foundation.

Conclusion

Considering starting a project in the county? 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 the Real Estate Market in Nakuru County.
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