The best mode of getting rich is not saving, but investing.
However, the place you invest, the time and the prospects matter a lot when you decide to put your money somewhere, either for future financial gain or for acquisition of assets.
One of the most areas where people invest their money is in real estate, which entails property and land.
Land in Kenya’s major cities including Nairobi has been appreciating for the last decade, shrinking the available land for development, for instance in Nairobi, to only 10 percent.
One of the factor of investment is the time. Why should you invest in land in the first quarter of 2020?
Most business entities give the festive offers from the month of December to January. This is no different for land dealers, who tend to lower land prices during the first quarter of every year.
For instance, land rates along Malaa in Kangundo Road are now retailing at between Ksh1.8 million to Ksh2 million for a 1/8 of an Acre commercial parcel of land. For residential parcels of the same area, it costs Ksh800,000 in the same town through Fanaka Real Estate Ltd.
Malaa, a satellite town along Kangundo Road is one of the fastest-growing townships around Nairobi, influenced by the rising population of middle-class around Nairobi and increasing demand for affordable residential land around the area, according to Fanaka Real Estate Ltd.
Land around Joska is going for around Ksh949,000 while the same piece of land (1/8 of an Acre) is retailing at Ksh749,000 at Kamulu.
The demand for land in the first quarter of every year tends to slump, while the availability goes up. In an ideal business environment, when the supply is higher than the demand, the prices go down. This is also true in land prices, where a lot of land is available for sale in the first quarter.
This means that a part from reduced prices, you can easily get land in the best location/spot, that has a better promise in terms of returns in future, whether for residential, speculative or commercial purposes.
Reduced competition also assures you of fast processing of documents such as title deeds and transfer of ownership.
Could be a new year resolution
Everyone wants to start the new year on a high and achieve something by the end of the year. For land dealers such as Fanaka offer their clients up to 12 months payment plan for their land, with ready titles.
For instance, for their Plains view Gardens project in Malaa, an eight of an acre (1/8 of an Acre) goes for Ksh550,000 with ready titles. If you pay a deposit of 30 percent (Ksh165,000) and instalments of Ksh35,000 per month for just 11 months, by the end of the year you’ll have your land and title deed.