Real Estate market set to continue growing in 2021As many Kenyans spend extra time at home, we’re reevaluating what “home” means and what we may need in going forward.
The real estate market is expected to continue growing in 2021, and it’s largely driven by the lasting impact the Covid-19 pandemic is having on our lifestyles. As many Kenyans spend extra time at home, we’re reevaluating what “home” means and what we may need in going forward.
Here are some reasons we think will influence people to buy a home this year.
- Low Mortgage Interest Rates
If you’ve found a house that you see is fit to be your home and that fits your needs at a price you can afford. It could be a good idea to act now rather than wait for future mortgage rate declines that may never come.
This sense of urgency is driving many people to think of buying this year.
- Working from Home
Working from home is a new normal for many businesses, and it could last longer than we expected. Many people today are discovering they don’t need to live close to work anymore and they can get more for their money by moving further outside of the city limits.
The truth of the matter is, for some, working in their current home is challenging, especially when there could be other options available.
- More Outdoor Space
Another priority for new homeowners is having more usable outdoor space. Being at home is making those in some areas to look for less densely populated neighbourhoods so they can have more room to stretch their legs. In addition, those living in apartments and flats are always looking for extra square footage, both in and out of the house.
It’s clear that homeownership needs are changing. As a result, Kenyans are expected to move in record numbers this year. If you’re trying to decide if now is the right time to buy a home, contact our Regional sales experts today to discuss your options.