Investors eying affordable houses for rental incomes – Capital Business
NAIROBI, Kenya, Feb 21 – The affordable housing segment is proving a popular source for investors seeking regular rental income, says Mi Vida Homes.
The developer says that investors have found that investing in affordable housing is providing a steady stream of income in the form of rental payments.
Mi Vida Homes says that as the demand for affordable housing continues to grow, so does the demand for rental properties, making this a promising investment opportunity.
“The best segment today is the affordable housing space because it enables you to have an annuity income as an investor,” said Mi Vida Homes CEO Samuel Kariuki when he launched the Keza project, a project that is coming up along the Riruta area of Nairobi County.
The Keza project will have a mix of studio, one-bedroom and two-bedroom apartments.
Kariuki added that rental income allows for inflation adjustment which additionally makes this investment attractive unlike other investments whose proceeds are fixed and are therefore vulnerable to the eroding effects of inflation.
Mi Vida Homes is also developing a similar project dubbed 237 at Garden City.
So far, Mi Vida has seen a huge demand for the studio and one-bedroom units for this project.
All one-bedroom units in the first phase have been sold to investors looking to capitalise on the growing trend of short-term rentals, such as Airbnbs.