The elections in 2002 brought a change of government and a change in Kenya's fortunes. Property investors examining the emerging real estate market in Kenya can now see massive opportunity where once there was massive risk, and the profitability of investment made into the Kenyan property market in the past few years is now beginning to show.
The majority of property investment opportunities currently in existence are situated all along the stunning tropical Indian Ocean coastline or within the many game reserves Kenya is so famous for. There are a number of areas of the country considered untouchable, but very gradually even in these areas are giving way to opportunity and growth.
In addition to being the business hub of East Africa, Kenya is blessed with natural beauty, incredible scenery and abundance of rare and amazing wildlife. Its tourism sector continued to flourish and the country even attracted property investment into the game reserves in the form of commercial lodges for tourism and also along the Indian Ocean coastal region in the form of a few second home and retirement home developments as well as some holiday resorts and commercial ventures as well.
So far the economy is on track. Kenya's GDP managed to grow by 2.2% in 2004 - this figure may seem startlingly low but it was actually seen as a very strong recovery for the country.
All of these facts have resulted in an initial surge and then steady stream of overseas investors ploughing money into the tourism and related real estate sectors in Kenya (CIA fact book) and into resort, holiday home and retirement property developments in the game reserves and on the seashore. Residential property investment opportunities in Kenya exist for the smaller personal investor and commercial real estate possibilities are developing all the time for larger or corporate investors looking for a true emerging market with long term sustained opportunity for growth, profit and yield.
The numbers of visitors to Kenya is increasing annually further boosting the more conservative business confidence in the country and gradually the economic fortunes of Kenya are beginning to see a sustained positive shift.
Those looking for a unique, long term residential or commercial property investment opportunity have significant choice in Kenya; those who have invested into the real estate sector in this emerging economy are already starting to see strong rental yield returns from the growing tourism sector and also solid price growth in their underlying investment commodity.
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