Apartments Reclaim Dominance among Kenyan Homebuyers
Homebuyers’ preferences among Kenyans in the second quarter of 2020 were characterized by a shift back to apartments, as demand for townhouses appeared to fizzle out, according to a new report.
The report filed by Kenya Bankers Association reveals that demand for apartments more than doubled during the period under review, accounting for 75.6 percent, compared to 33 percent of the concluded sales in quarter one.
These were followed by bungalows and maisonettes, both accounting for 12.2 percent.
The rise in both the demand for apartments and bungalows and a decline in Maisonettes is suggestive of a market leaning more in search of affordability among home buyers.
In terms of regional distribution, activity was concentrated in Region 2, accounting for 75 percent of the concluded sales compared to 78 percent in quarter one.
Region 2 consists of Athi River, Mlolongo, Mavoko, Nakuru, Ngong, Ruaka, Syokimau, Embakasi, Kahawa Wendani, Thika, Mtwapa, Utange, Kitengela, Kiembeni, Nyeri, Likoni, Eldoret, Ruiru, Kilifi,Thika road (Kasarani, Roysambu, Ruaraka), Meru, Bungoma.
“Even though this represents a decline, activity in this region is still substantial,” the report says.
On the other hand, concluded house sales in Region 1 and Region 3 accounted for 22.2 percent and 7.8 percent compared to 16 percent and 7 percent respectively in quarter one of 2020, reinforcing buyers’ search for affordability.
An examination of the distribution of the type of house by region reveals that apartments dominated in Region 2, while bungalows and Maisonettes dominated in Region 1 and Region 3 respectively.
As such, Region 1 consists of Thindigua (Kiambu Road), Kiambu, South B, South C, Kabete, Komarock, Imara Daima, Membley, Buruburu, Rongai, Waiyaki Way (Uthiru, Regen, Kinoo, Kikuyu), Mbagathi road, Ngong Road, Langata.
Kileleshwa, Kilimani, Lavington, Westlands, Spring Valley, Riverside, Milimani (Kisumu), Milimani (Nakuru), Runda, Karen, Garden Estate, Parklands, Ridgeways, Muthaiga, Loresho, Kitisuru, Adams Arcade, Nyali, Mountain View, Nyari make up Region 3.