FAQ’s
Frequently Asked Questions
Featured
Most Popular Questions
These are some of the common questions asked by the investors…
Foreigners can purchase property in Kenya, but there are restrictions on land ownership. Non-citizens can own property on leasehold basis (usually 99 years) or through joint ownership with Kenyan citizens. It's important to work with a qualified lawyer to navigate the legal requirements.
The process involves several steps, including conducting due diligence, obtaining a search at the land registry, drafting an agreement, payment of stamp duty, and registration of the transfer at the land registry. It's recommended to hire a real estate lawyer to guide you through this process.
Property valuation is usually determined by registered valuers who consider factors such as location, size, condition, and market trends. The government also provides guidelines for valuation. A registered valuer can provide an accurate valuation report.
Common costs include the purchase price, stamp duty (based on the property value), legal fees, valuation fees, and real estate agent commissions if applicable. Additional costs might include land rent for leasehold property and any outstanding land rates.
Freehold titles grant the holder full ownership rights, while leasehold titles grant the holder rights to use the property for a specified period (usually 99 years). Both types of titles allow for development and transfer of ownership.
RERA is responsible for regulating the real estate industry in Kenya. It ensures compliance with standards and ethics, monitors real estate transactions, and protects the interests of buyers and sellers.
Yes, various financial institutions in Kenya offer mortgage loans for property purchases. It's recommended to shop around for competitive interest rates and terms. Meeting the lender's eligibility criteria is important.
To verify property ownership, obtain a search report from the relevant land registry. This report will confirm the current owner and any encumbrances on the property. Working with a qualified lawyer is advisable.
Emerging opportunities include affordable housing, commercial real estate, and real estate development in growing urban centers. Conduct thorough market research and due diligence before investing.
The process involves property valuation, obtaining a land search, drafting a sale agreement, obtaining consent from relevant authorities (if needed), payment of capital gains tax, and transferring ownership at the land registry.
