Leading Real Estate agencies in Nairobi have ranked Malindi second overall, after Nanyuki, for the desirability of its land and as a possible real estate investment of the near future in Kenya.
"Place of development for residential and business holidays" was the reason why more and more Kenyans are looking at the coastal town as a new frontier for buying houses and plots. Unlike the now over-subscribed Mombasa with its populous holiday suburbs such as Nyali (now a town in its own right) and Bamburi Beach, Malindi still has vast areas in the immediate hinterland, but also in the strip from the road to Mombasa to the ocean, all in need of development. This will hopefully bring development but at the same time inevitable deforestation. However, there are also areas of just scrubland and coral rock that could benefit from housing projects.
One of the changes that has brought Malindi into the consideration of local investors is the construction of new paved roads that branch out into the suburbs and former villages behind the town. Thus some decentralised areas, such as Kwachoca, Kaoyeni and Takaye near the airport or Ganda and Kakuyuni on the Tsavo road, are no longer seen only as "shamba" situations, i.e. for agricultural development only, but also as new residential frontiers, even bordering on social housing. In short, the enlargement of Malindi may lead to the design of a new suburb, perhaps even less degraded than the Nairobi or Mombasa model slums, also to maintain its identity as a place for holidays and meetings.
What are the prices, another aspect that attracts investors?
They range from 10,000 euro per acre (about 4,200 square metres) upwards, for the immediate suburban area.
Typical plots of land for building a private home measure a quarter of an acre, the classic 1,000 square metres, and sell for 4,000 euros or more. Clearly there is a profit to be made from splitting up the land.
Another aspect that makes Malindi the place of choice for investment in the sector is the availability of land for sale and the property titles attached to it. This is also due to the presence of foreign residents who have in the not too distant past started the process of obtaining title deeds to secure their investment and have now decided to sell their properties.
There are always plenty of bargains in Kenya's online agencies concerning Malindi and its environs. Examples ranging from western villas in Malindi city from 150,000 euros to 300,000, up to simpler solutions but in quiet and safe areas that go down to 60-70 thousand.
As for flats and cottages in groups of houses in the working-class neighbourhoods of Malindi, with 25 thousand euro you can buy them, although that kind of solution is particularly managed by renting (from about 100 euro upwards).
For those who are planning to sell or buy, in short, the time has come for Malindi to attract. For information on how to properly advertise the sale of your business in Nairobi and Kenya, you can write to info@malindikenya.net.