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Kenya’s economy is among the fastest-growing in Africa, and this expansion has had a favourable impact on the real estate market. The demand for residential and commercial real estate has increased as a result of urbanisation, a growing middle class, and more discretionary income.
Kenya is rapidly becoming more urbanised as a result of people moving from rural to urban areas in quest of better living conditions and employment prospects.
The capital city of Nairobi has experienced notable urban growth, which has raised demand for urban housing and associated infrastructure.In Kenya, finding affordable housing is a major problem that both the public and commercial sectors are attempting to solve. The goal of many housing developments is to give everyone access to affordable housing, particularly those with low and moderate incomes.
The Kenya real estate market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.
An innovative idea has been introduced by the multinational real estate company Baron and Cabot: a UK property site that provides real estate companies in Kenya with a calculated growth strategy.Kenyan real estate agents will be able to sell homes and earn pounds thanks to this novel approach—which is the first of its kind to use AI technology to estimate property prices—which presents an unheard-of chance for professional advancement and financial success.
Real estate companies can access a large selection of completely compliant properties and reduce the risk associated with their investments in foreign markets by using this platform.
They are excited to introduce this ground-breaking idea, which will not only give Kenyan real estate agents a platform to market homes in the UK, but will also spur economic growth and job creation. They think that by using AI technology to forecast real estate prices, they can provide them with a distinct edge and assist them in becoming financially successful.
The expansion goals for joint ventures are to establish win-win alliances that will benefit all stakeholders.Properties will be reserved by real estate, and Baron and Cabot will handle the client’s legal procedures.
