Sign in
Download Opera News App

 

 

Is it Still Possible to Buy Land within Nairobi CBD? Find Out

Land in Nairobi is fast becoming a scarce resource, especially towards and within the Central Business District(CBD). The area is a commercial hotspot that every investor would prefer setting up a lifetime business or structure. But, is it still possible to acquire land within the Nairobi CBD?

Photo Courtesy

I won't discourage anyone by claiming it isn't possible, it's absolutely possible, but unfortunately, this is where deep connection chips in. It is also where the depth of your pocket speaks most. Currently I don't think it's possible to even acquire more than an eighth of an acre within the Nairobi CBD. The most commonly sold are even less than an eighth and are sold for tens and hundreds of millions. This implies that if you want a land within the CBD you must arm yourself with an eight or nine figure. Actually the cheapest you can get land today within the CBD is in eight digits, I'm talking about 10,000,000 and above for just a piece of plot.

Photo Courtesy

An alternative to acquiring or buying a piece of land is buying a whole building on sale, after which you can renovate. However, most buildings under sale in Nairobi are mostly done by auctioneers who call for bids, the highest bidder have it all. The problem is they won't even tell you the highest bidder or the lowest so you can increase your stake.

Building under construction within Nairobi CBD

Otherwise, don't be discouraged if you still dream of owning a property within the CBD, there are still loads of chances and properties under acquisitions and sales. Just work on the money. Also beware of cartels, conmen and fraudsters. Thanks for reading

Content created and supplied by: HapoNews (via Opera News )

CBD Central Business District( Nairobi Nairobi CBD

COMMENTS

Load app to read more comments