Sanka Properties

LAND RENT.

Last time we spoke about land rates and how to pay them, today we are going to look at land rent. Most people confuse land rate with land rent. By definition, land rent is the levy which is charged on leasehold parcels of land whereby the annual rent is reserved at the time the grant …

LAND RATES IN KENYA.

By definition, land tax/rate is the levy payable annually on every piece of land regardless of whether it brings income or not. It is taxed based on the current market value of the land and it varies depending on where a piece of land is located. The land rates are payable via the respective county …

LAND BANKING AND IT’S BENEFITS.

Land banking is an investment structure in real estate involving purchasing of large tracks of land which are not developed and later sell it at a profit. In some cases, it is known as real estate investment schemes. Normally, real estate developers buy the land, subdivide it and sell it to investors who have two options: buying a plot or acquiring an option to purchase a plot of land.
Investors in this investment strategy, always project the future of an area and with the rising demand for properties close to urban centres, they buy at affordable rates and sell at a profit. This mostly happens in suburbs of major cities. In most cases, land banks purchase vacant and residential land.
This investment strategy dates back to over 500 years ago when John Jacob Astor bought a huge tract of land in Manhattan, later on, he sold it at a huge profit.
Benefits of land Banking
This old land banking practice has numerous advantages for investors. However, this investment has its own risk just like any other investment. But still, the benefits outweigh the risks. For those wondering whether land banking is a good investment, read on to get more information and insights.
Low maintenance
This investment has little or no maintenance, no taxes, or insurance. Further, it does not require huge financing in comparison to other real estate investments
High profits
When you invest in the right location, appreciation is a must enjoy for this type of investment. Further, despite the value of land rising, you can at some point develop the property and reap even a good income from the investment.
Requires fewer finances
For land banking beginners, the amount of money required is low in comparison to other assets. If you do not have a lot of finances, you can begin investing in this category and grow your way up.

Written By:
Peris Wahome.

WHY INVEST IN REAL ESTATE.

When done correctly, real estate is one of the most popular and profitable investments with a lot of potential for success. Real estate investing offers many advantages, and investors can enjoy a steady income flow that may lead to financial freedom. We spoke with our CEO who shared various benefits of investing in real estate. …

POINTERS FOR A FIRST TIME LAND OWNER.

Real estate investment is one of the most vibrant sectors of the Kenyan economy and is a popular venture. Land being a precious commodity, it has attracted buyers from all age groups. The following tips should be helpful to a first-time land buyer in Kenya.

Figure out your must haves and must have nots

Your must haves are those non negotiable that you require your potential piece of land to have, these could be availability of water, electricity, good roads and more. While your must have nots are those requirements that are a plus to have but wouldn’t keep you from buying the piece of land if it didn’t …

Zoning And Building Regulations

A piece of land presents a lot of opportunities but not endless, there always are going to be limitations on what you can do and build on a piece of land. This is normally dependent on the local zoning, different localities hold different requirements i.e., there are places where you can’t build a story building …

Buying From a Trusted Seller

One of the biggest things you need to look out for is who you are buying land from. You should consider buying land from a trusted partner. This can be from an individual you know well who works in the real estate industry or from a real estate company which has the proper documentation and is a trusted real estate agent such as Sanka Properties and Merchants Ltd.
The biggest advantage of doing this is that you minimize your chances of coming across fake land sellers and you are guaranteed of the best deals in the market.

Written By:
Peris Wahome.

Legal process of owning land in Kenya.

It is everyone’s dream to own a piece of land in Kenya at some point in their life. Land in Kenya is said to be the most promising investment one can make as it never depreciates and there are towns blooming in every corner of the country.
So, what is the right process of buying land in Kenya?
Having operated in the market for some years now, we understand the hustle land buyers go through. For those starting out, here are some steps you need to follow to avoid being duped when buying land in Kenya.

Confirm unpaid land rates

The next thing you need to do is to make sure that the land you seek to buy does not have any unpaid land rates. In case it has, then you should be able to factor the amount when paying for the land.
In Nairobi for instance, land rate clearance certificate costing Ksh 7,500 can be issued within a day.

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