Tuesday, May 7, 2024

Why this is the right time to invest in real estate

A Kenyan Facebook user has advised investors intending to make real estate investments to take their first step during a time like now when the country is experiencing heavy rainfall.

In the Facebook group 52-week saving challenge the Kenyan opined that conducting due diligence at such as time will save many from being victims of floods in the future.

“This is the right time for buying land for building, u will know whether the land is wetlands or good for construction,” a Kenyan posted.

Another user went on to warn Kenyans against purchasing from real estate companies that claim to have postponed plot site visits, noting that this is a big red flag.

“The best time to invest in land is now.  If it has been postponed, just know it’s a red flag. Dress up for the weather ….assess the site,” he warned.

This comes as the country continues to experience heavy rainfalls that have left some developers counting huge losses.

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The losses are experienced in the form of collapsed or sinking buildings, water submerging homes and destroying properties as well as landslides.

For instance, in the North Rift region, more than 400 families have been displaced, and several hectares of food crops have been damaged or submerged as floods wreak havoc following recent heavy rains.

The floods have also damaged roads and infrastructure, disrupting transport services in several areas.

A similar incident has been witnessed in Athi River in Machakos County where over 2,000 have been displaced by floods after River Athi burst its banks.

Machakos governor Wavinya Ndeti issued a stern warning to developers who have built on riparian land that they will be forced out to prevent further flooding and disaster in the future.

“We are going to enforce the law and ensure that those putting up buildings in such areas are evicted,” said Wavinya.

According to the Kenya Meteorological Department’s weekly weather forecast, the current rainfall is expected to continue in several parts of the country.

The weatherman warns that flooding is expected in low-lying lands and places with poor drainage.

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