The figure for the rest of the country could be staggering. Another Sh12 billion in the capital is tied up in land in Nairobi, Kajiado, Machakos and Kiambu. About Sh1 trillion of capital is tied up in land in Nairobi. More Kenyans just want to buy land and see it appreciate over time and dispose of it profitably at the right time. Majority of Kenyans who own land want to put it into real estate development as it is a large, long term investment plan with huge returns on investment compared to other forms of investment.
This seems to be the ultimate goal of most people who wouldn’t hesitate to spend all their savings on a piece of land even if they don’t have immediate use of it. This phenomenon is a truism that has manifested itself across the country both in urban areas and in the departments. Whether it’s the 50m by 100m room in Joska or Kamulu, or the ubiquitous ranch in Nanyuki or Kilifi, Kenyans are simply obsessed with the desire to own land. The attraction of Kenyans to owning land they can call their own is almost like an obsession.
The opportunity to invest in the real estate sector for the discerning investor is now a reality thanks to Real Estate Investment Trusts popularly known as REIT.The majority of Kenyans who own land want to put it into real estate development because it is a large, long term investment plan with huge returns on investment.
Most people would not hesitate to spend all of their savings on a piece of land even if they did not have immediate use of it.