The real estate industry just like any other has been faced with issues that only seem to increase with time and are now threatening to cripple the industry.
Banks and other major lenders rarely wish to give acquisition or construction loans to private developers. The banks offering loans to the private developers are known to have most of the applications rejected. In their quest to solve housing problems, private estate developers are challenged with the lack of funds.
Land prices have escalated following road expansion projects by the Government in areas that were previously not so accessible. Land in the outskirts of Nairobi could previously go for as low as half a million but is currently priced at 2 million shillings and above. An acre of land in Karen was averaged at 2.5million which later rose to 20 million shillings and has currently shot to 60 million shillings.
It is a no-brainer why title deed fraud has become prevalent; getting a piece of land with an original trouble-free title is majorly a challenge in Kenya. Stories of bulldozers demolishing property because it is built on public land trend all the time as court cases on land continue to pile.
A report published in 2018 on real estate, indicated a decrease in rental price in all residential properties with apartments recording the highest decline of 12 percent in value and rental prices. This makes it difficult for the developer to recover their money as fast as they would have most likely planned.
Shortage of skilled construction is another challenge the industry has to grapple with. Most of the young people are leaning more towards the white collar jobs while others are trapped in drug addictions and crime.
However, things will soon ease up as the State lifted a 90-day ban on timber which had caused an upsurge of price in timber products with wooden prices rising from 150shillings to an exorbitant 320 shillings. Constructors who had already acquired poles before the ban could not transport them to sites because of the ban. The lifting of the ban is, therefore, definitely, good news to the construction industry.
Introducing Saif Real Estate
Saif Real Estate is a fast growing company in the real estate development sector in Kenya.
The company prides itself as an affordable housing solutions provider in the Kenyan market. According to the management, the company pays close attention to the pulse of the property market by packaging together our clients’ needs to help them realize their dreams.
To achieve this, they work with some of the best architects and building contractors in the market to ensure that quality is not compromised right from the conception of the building plan to the actual execution on the ground and eventual finishing of the project.
All the directors of Saif PROPERTIES have actively been in the building and construction industry as steel manufacturers and have in the past one year thrown their weight behind property development.
This is after noting a market gap in housing that they would want to address by providing high quality and yet, affordable housing to Kenyans.
What makes Saif Real Estate unique?
Affordability and flexibility
They are flexible in the mode of payments.
All their projects are situated in prime locations making it easily accessible to their clients. They are centrally located around social amenities like schools, hospitals, hotels and shopping malls.
Value for your money
You get to choose the best location for your house and what you want improved to meet your preference.
You also get to walk hand in hand with your developer during the construction period.
As their name suggests, they focus on making sure you are #saiflyhome. Their clients’ security is paramount to us.
Their projects are in secure locations with CCTV cameras installed in their buildings to monitor the activities in the building.
Comfort & Luxury
They ensure their projects are fitted with modern features like: