Kenya has a growing consumer market and is an ideal place for investors in real property due to its strategic location within the East African community. With a growing middle class becoming more economically empowered and being able to afford housing, the demand is created. There is an annual demand of about 240,000 for housing and office units in the country while only about 60, 000 units are being supplied. The real estate boom has also shifted to the outskirts of the capital city and most recently at the county levels. The mortgage accounts by the financing institutions are increasing at an incredible rate.
The Constitution of Kenya, 2010 extensively deals with aspects of land ownership and principles that should govern dealings with Land. The Land Act, 2012 together with the Land Registration Act, 2012 and the National Land Commission Act, 2012 consolidate the land laws and provide for the new aspects in land ownership and in transactions related to land. There is need for an understanding of all these new land laws including their implications for land dealings by spouses, financial institutions and foreigners.
Our firm has extensive experience with all matters relating to real estate. We also help commercial real estate developers to acquire all the requisite permits and drafting the legal contracts necessary for dealing in property.