Real estate is a profitable but risky venture for investors. Only a handful of investors have mastered the real estate sector and the dynamics that come with it.
Real estate investors are always on the lookout either for properties to invest in to settle their families or for future investments. There are many areas that are considered hot real-estate investment zones, especially for future investments.
Ngong town is among the areas considered hot for real estate investment. Everyone who looks to invest in real estate is first advised to put their money in one of these areas.
Ngong is a bustling town 30 kilometers from Nairobi’s CBD. Its proximity from the City Centre has seen it grow rapidly over the last couple of years. The rapid growth of the town has also hugely affected land prices in the area.
Ngong is not an expensive place to live in and you can live within your budget. With rents ranging from Ksh 25,000 to Ksh 30,000 for a 2-bedroom apartment, and Ksh 35,000 to Ksh 45,000 for a 3-bedroom unit, Ngong is pocket-friendly for a middle-income family.
If you wish to buy a house, a 4-bedroom house will cost between Ksh 15 million and Ksh 20 million, depending on the size, the location and its finishing. If this is too expensive, worry not, as you can buy a plot and build your house at your own pace. For your food and clothing purchases, there are not only stalls and supermarkets, but also an open market on Saturdays.
The recent tarmacking of Ngong- Kibiko Suswa Road, which has opened up the area for commercial and residential development. Land for sale in Ngong that were selling as low as Ksh 200,000 are now selling at Ksh 700,000 and the rates are expected to increase further this year.
Its proximity to town is among the reasons why Ngong road grew rapidly but the availability of varied means of transport to get to Ngong is making land prices skyrocket even faster. The ongoing dualling of Ngong road is expected to ease traffic to the town.
The completion of Standard Gauge Railway and the Ngong SGR Station have further opened up the area for investors.
Generally, Ngong town’s location has made the town grow to what it is. It has made land prices grow as well. The town is also close to the Ngong Hills, from the westside slopes, overlook the Great Rift Valley dropping over 4,000 feet below, which currently occupied by new residence. Today Ngong and its environs is a well-developed outskirt providing a good residing place for many of Nairobi’s workers. It known for cool temperatures and cool wind blowing from the Hills and wind power generating turbines.
Ngong Hills is an excellent holiday destination for Nairobians who come hiking away from the city’s noise, pollution, and congestion.
Ngong area also has easy accessibility of building materials due to close proximity to quarries, which makes it easy to venture into construction.
According to County Land Prices, Ngong has consistently been recording high appreciation of land prices averaging at 12.9%
If you are looking for a residential land in Ngong to build your dream home, then you have the right choice.