One of the local property developers has launched a new housing project known as Rafi Studios to accommodate university students in Juja.
The building comprises more than 300 fully equipped studio and one-bedroom apartments with the purpose of providing convenience, safety, and comfort.
The price of a single and twin-bed studio begins at Sh2.4 million, which is an affordable price to all investors and parents.
The apartments consist of 25 square meters, with beds, wardrobes, desks, lounge and bathroom with an en suite.
There are shared lounges, study rooms, visitor reception, water access and a strict security too.
Situated within minutes from JKUAT campus, the apartments seek to address the increasing need of student housing around the area.
More than 32,000 students are enrolled at JKUAT with just a small fraction accommodated in hostels and off campus housing is a major requirement.
I earn Sh55,500 net; how can I own a family home before age 35?
The developer is also targeting the parents who would be willing to purchase student housing instead of renting on a long-term basis.
An investor will get approximately Sh288,000 yearly on a one-bed unit and Sh360,000 per annum on a two-bed unit.
The units will be one bedroom apartments which will cost Sh4.2 million and are expected to give Sh540,000 annually in rent.
There are flexible payment programs particularly to early buyers hence easy to own the property before completion.
This is an off-plan project, which is already attracting considerable demand among buyers in Nairobi and its surroundings.
In addition to the business aspect of the project, the developer was also motivated by the personal experiences as a struggling student. Such difficulties have now been converted to a viable income earning solution to others.
Rafi Studios, to parents who want to see a long-term value and to students who need to have some dignity and some comfort, it ticks both of those boxes.
Increasing demand of student housing makes this development a good investment in the education sector in Kenya.
