As the real estate market continues to evolve, focus has shifted to Kenyans who fall in the low to middle income bracket. Even as property prices continue to rise steadfastly and developers leverage on high end properties in the city’s urban environs, there has risen a great need to service the housing needs of the rising middle income earners who are gaining purchasing power and low income earners.
Spring Hill Park, Kileleshwa
The recently commenced SpringHill Park by Sigimo Enterprises is already receiving a lot of interest from potential home buyers who are attracted by the visual appeal of the apartments that are set to have a rooftop swimming pool – a feature that none of the apartments in the Kileleshwa area have. The premier development of elegant 3 bedroom apartments and penthouses built in the fast growing locality, overlook the scenic Arboretum Forest and offer a tranquil and serene living environment for the discerning home owner who would like a home in close proximity to the Central Business District.
Sigimo Enterprises, a fast rising developer of middle to high end homes in Nairobi, has also commenced development of apartments for the middle income bracket along Tabere Crescent, Kileleshwa. Sigimo Enterprises, having observed the building trends in the country, opted to make a difference by building homes that have a unique aspect and leverage on the unique attributes of environments. Sigimo Enterprises develops homes that produce a characteristic personal feeling in every space and develop one of-a-kind homes with an independent attitude – these are what can be defined as boutique apartments.
Aerial view of the high end apartments, complete with a state of the art swimming pool.
Real estate developers have in the recent past given great focus to high income earners and built houses to cater to people who can afford upwards of Kshs. 30 Million for a modest house in upmarket areas. However, the demand for housing for low to middle income far outstrips the supply for the same. It is with this in mind that Sigimo Enterprises has delved into putting up affordable developments that can meet the demands of upcoming middle income earners who are looking luxurious yet affordable homes in middle market and urban areas of the city. Over time, the middle income earners have resulted to taking up housing ideally meant for low income earners as the houses being built by private developers are usually too expensive for middle income earners to afford.
When real estate started becoming a viable and attractive investment option for business people, Kileleshwa was one of the first areas in the city to see a high infiltration of apartments. In the 80’s and 90’s, the area was characterized by government owned masionettes and flats, and a small percentage of stand alone bungalows owned by the affluent persons in the society. With the real estate bubble becoming bigger and bigger, the upper middle income bracket of people wanted to have access to luxurious and beautiful homes but affordable, and this saw the rise of apartments and town houses in almost every corner of the Kileleshwa suburb.
There is now an over-saturation of apartments and townhouses that have become too expensive for the Kenyan to afford. Every Kenyan should have access to affordable housing and still live well in comfort and it is this that has motivate developers like Sigimo Enterprises to build homes that offer aesthetic appeal, good amenities, ideal locations and ultimately are affordable and easy on the pocket.
Nairobi is fast emerging as the next frontier for global property investors. The rising number of expatriates in the country coupled with the setting up international companies and brands in the city is proof that this is the investment destination of Africa. The construction and allied sector now accounts for 11% of GDP and this goes to show that there is a great need for housing that accommodates the need for this group of people. The Centre for Affordable Housing Finance in Africa (CAHF), based in Johannesburg, South Africa states that the prices of houses in Kenya are way beyond the means of individuals who would ordinarily afford them.
With the demand for decent housing on the rise by the day, and the Kenyan economy being majorly driven by the upper middle class, the need for affordable housing that meets the needs of the family, exceeds standards and appeals to the well versed Kenyan is of great appeal. Sigimo Enterprises, having observed the building trends in the country, opted to make a difference by building homes that have a unique aspect and leverage on the unique attributes of environments. Sigimo Enterprises develops homes that produce a characteristic personal feeling in every space and develop one of-a-kind homes with an independent attitude – these are what can be defined as boutique apartments.
SpringHill Park meets these expectations and is designed with precise attention to detail and comfort. With convenient proximity to schools, shopping centres, hospitals and other social amenities, SpringHill Park offers unrivaled spacious and modern 3 bedroom apartments each measuring a good 200 sq m, are delightfully spacious with practical interior layouts. The designs comprise of spacious lounges which open up to the balconies overlooking the leafy green suburbs. The recessed ceilings with designer LED down lights add an ambient twilight glow to all the rooms. The project also features functional amenities that make this an ideal residence where all your recreational needs are conveniently met in the same location. Finishes incorporate ceramic tiles and granite worktops in the kitchen. The apartments and penthouses are being sold at a cost of Kshs. 22.5 M. Extras include: borehole, swimming pool, parking for two, and perimeter wall with electric fence, CCTV, and generator for common areas.
Looking at the developments that are up for sale this year and beyond, it is clear that developers have turned their sights to the fast rising middle income economy who make up the bigger percentage of income earners in the Kenyan economy.
https://www.kenyahomesexpo.com/wp-content/uploads/2017/01/Exterior-Hi-Res-01-copy.jpg20252709Kelai Wanjiruhttps://www.kenyahomesexpo.com/wp-content/uploads/2016/05/logo-300x120.pngKelai Wanjiru2017-01-10 12:26:102018-07-23 12:03:43Middle Class? High End Living Just for You