KENYA

-

HOUSING DEFICIT vs POPULATION IN KENYA

The current population of Kenya is 56,962,620 as of Wednesday, March 15, 2023, based on Worldometer elaboration of the latest United Nations data.

Kenya 2020 population is estimated at 53,771,296 people at mid year according to UN data.

Kenya population is equivalent to 0.69% of the total world population.

Kenya ranks number 27 in the list of countries (and dependencies) by population.

The population density in Kenya is 94 per Km2 (245 people per mi2).

The total land area is 569,140 Km2 (219,746 sq. miles)

27.8 % of the population is urban (14,975,059 people in 2020)

The median age in Kenya is 20.1 years.


Kenya has the most populated nation in the East African Community and the greatest economy in East Africa. It also holds the position of being the second most populous in the EAC. The GDP of Kenya in 2021 was Ksh12.098 trillion, which is equivalent to $102.6 billion in US dollars, and the economy expanded by 7.5%.

As of December 2021, Kenya had 38 commercial banks, with 32 offering residential mortgages. The value of residential mortgage loans was Ksh245.1 billion (US$2.08 billion), out of which 11.6% were non-performing loans. The Monetary Policy Committee raised the central bank rate from 7.5% to 8.25% in September 2022. Kenya’s National Treasury also offers risk-free government securities through Treasury bills and bonds.

The high costs of development-class land and buildings are the main problems making affordable housing unattainable for low-income Kenyans. The cost of land in Nairobi’s satellite towns ranges from Ksh9.8 million (US$83,149) per acre in Kiserian to Ksh27.1 million in Ngong. One-bedroom flats in Ngara/Pangani rent for Ksh25,000 (US$212) per month, including service fees. Continued urbanisation has resulted in a rise in the cost of land in Nairobi and surrounding regions, impeding the creation of affordable homes.

Residential housing trends to watch include student housing and tenant-purchase schemes, where a tenant pays rent over a period and eventually owns the unit outright. There has also been growth in off-grid lighting and energy solutions. Ten million people rely on quality-verified off-grid solar products for lighting, but more green technologies and solutions, especially for water and sanitation services, are needed.

With the current rise in Rural Urban movement, investing in the satellite towns of the Kenyan Cities is an assurance of high returns on investment.

See some of the available investment opportunities here: www.optiven.co.ke/properties

For more info on how to tap into these opportunities in the Kenya real estate sector contact

James Ploti

Tel / Whatsapp: +254708459336

It is estimated that 22 percent of Kenya's population in the five cities dwell in slums. That is 10 million out of the 47million Kenyans. This is according to the 2019 census report.

FOOD FOR THOUGHT: 4,666,027 Kenyans live in the rental apartments and out of this number 3,669,425 rent houses in the urban centres while 990,602 rent in the rural areas. Nairobi 1,354,882 records the highest number of  Kenyans staying in the rental apartments followed by Kiambu 498,012, Nakuru 322,762 and Mombasa 279,830.

Are You amongst these?

Out of the 47 million Kenyans, 7,379,485 are homeowners. 6,387,020 own homes in the rural areas while 992,465 in urban centres. Kakamega county leads with the highest at 369,381 while those who own homes in Nairobi are 138,976 😮😮😮😮😮.

Comments

  1. Anonymous18 March 2023 at 01:49

    Wow this is truly a food for thought

    ReplyDelete
  2. Nyambura Wainaina-Optiven18 March 2023 at 14:07

    Great Great insight. Good research 👌 kudos!

    ReplyDelete
  3. Anonymous19 March 2023 at 11:24

    Good establishment of information. Thankyou. Do you have lo5ans offers thru bank mortgage

    ReplyDelete
    Replies
    1. JAMES PLOTI19 March 2023 at 21:34

      Thanks for reading this, we do not offer loan though we can offer you an investment opportunity on a lipa pole pole basis

      Delete

Post a Comment

Popular posts from this blog

TOMORROW ...... PROCRASTINATION

-
Image
Procrastination is the act of delaying or putting off tasks until the last minute, or past their deadline. Some researchers define procrastination as a "form of self-regulation failure characterized by the irrational delay of tasks despite potentially negative consequences." It's Friday afternoon and the clock is ticking. You're working furiously to complete a task before the five o'clock deadline, while silently cursing yourself for not starting it sooner. How did this happen? What went wrong? Why did you lose your focus? Well, there were the hours that you spent re-reading emails and checking social media, the excessive "preparation," the coffee breaks, and the time spent on other tasks that you could have safely left for next week. Sound familiar? If so, you're not alone! Procrastination is a trap that many of us fall into. In fact, according to research and speaker Piers Steel 95 percent of us procrastinate to some degree. While it may be
Read more

LIFE PLAN

-
Image
Remember when we were younger, and people used to ask us what we wanted to be when we grew up? It may seem silly to ask an eight-year-old what they hope to do with their life. But maybe this small talk was also a way to get us to think about what we wanted from life. And most of us answered this question with confidence, revealing our hopes and dreams. However, as we grew older and learned how to manage the curveballs life threw at us, we might have lost sight of what we once hoped to become and achieve.  If you catch yourself daydreaming about how your life could be different or maybe just need a better outlook for the future, look no further.  We will cover the basics of life planning, identify strategies and goals to think more about, and learn some tools to get our lives moving on a better track. Ready, set, go. What Is Life Planning? (A Definition) I have a question for you, dear reader. What do you want to be when you grow up? I won’t be upset if you rolled your eyes or let out a
Read more

Stop Letting Your Past Define Your Future

-
Image
  It’s Time To Stop Letting Your Past Define Your Future You’re down, you’re tired, you’re hurting, you’ve somehow lost your way. You’ve given someone’s negative opinion of you far too much credit. You’ve let a failed relationship make you fearful of connecting again. You’ve allowed someone’s poor treatment of you to shift the way you see yourself. YOU HAVE TO STOP...... I know you’ve been through some sh*t. We all have. We all have our share of brokenness, discouragement, emptiness, and defeat. We’ve all lost people.  We’ve all been cheated on or left by someone we loved. We’ve all floundered in our faith or slipped somewhere on the path. We’ve all fought demons, illness, mental issues, and pain. We’ve all been let down, had enemies, or made enemies of ourselves. We’ve all had days when we question whether we have the strength to continue. This is not meant to take your problems and shove them to the side, make light of them, or diminish them in comparison to anyone else’s. This is to
Read more