Buying land within the Nairobi Metropolitan Area is one of the best investments one can make when looking for residential, speculative or commercial land/ plot.
A metropolitan area is a region consisting of a densely populated urban core and its less-populated surrounding territories, sharing industry, infrastructure, and housing. A metro area usually comprises multiple jurisdictions and municipalities: neighborhoods, townships, boroughs, cities, towns, exurbs, suburbs, counties, districts, states, and even nations like the eurodistricts. As social, economic, and political institutions have changed, metropolitan areas have become key economic and political regions.
Land rates in Kenya vary from one location to the other and depend on various factors such as size, location, accessibility to roads, electricity availability, sewerage, water, and many more.
1. Cost of Land in Nairobi Metropolitan
Compared to land prices around Nairobi which are not anything less than Ksh 90 million, land prices within the Nairobi Metropolitan areas are more affordable for both residential and commercial uses.
These prices range from; 9.6M in Juja, 9.9M in Ongata Rongai, and 9.2M in Athi River for an acre of land.
In other metro towns, the prices of land are relatively cheaper. Take for instance Kangundo road, research proves that this area is thriving with affordable land but not for long as the area is rapidly growing by the day.
Take for instance Fanaka real estate properties in Kamulu selling a piece of land at KSH 999, 000 and in Joska at KSH 949, 000 all in developed areas, ready to build with all amenities close to the plots.
2. Cost of living
Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time are often operationalized in a cost-of-living index. The cost of living calculations are also used to compare the cost of maintaining a certain standard of living in different geographic areas.
In comparison to the CBD, the cost of living in the Nairobi Metropolitan is quite affordable. A good example would be a grocery shopping costs.
Along Kangundo road, for instance, there are quite a number of markets that sell fresh groceries straight out of the farm as most of the vendors are farmers thus fresher and affordable groceries.
The areas are also free from noise pollution, as well as emissions from gases from motor vehicles.
4. Price Appreciation
When you are buying land, you need to be in a position to balance between buying an expensive land around the city or a more affordable and pocket-friendly piece of land within the Metros in satellite towns around the city.
Lands in the Metropolitan are appreciating by the day and acquiring a piece of land would be one of the best investments yet that one can make. The population in the areas is rapidly growing and so is the infrastructure which enables the value of land in the area to appreciate by the day.
Buying land in the Nairobi Metropolitan is by far the better option for anyone who wishes to settle close to CBD.
Prices of land in the area are affordable, the surrounding environment is cleaner, there is more space for expansion, and the cost of construction is much lower as compared to within CBD.