Mombasa: The city of Convenience
Often driven by affordability versus concerns about long-term convenience, many first time home buyers have a difficult time deciding whether purchasing a standalone house makes more financial sense than buying an apartment unit. This is especially within a fast paced environment like Mombasa city, Kenya’s second most populated city with a little over 1 million people in Mombasa Island alone.
The city is the country’s chief tourist attraction, receiving about 5 million people annually. Mombasa is also currently Kenya’s most promising city in terms of the number of job and business opportunities available. As a result, many locals and foreigners are migrating to the coastal city, in order to take advantage of what is on offer. In fact, its disposable income is now believed to be higher than Nairobi’s, and this is attributed to the recent increase in the number of fresh graduates and middle-aged professionals in the area.
The Mombasa real estate industry has also greatly benefited from this recent developments. As expected, the increase in the number of people has led to an increased demand for housing. Various developers have seized this opportunity and have matched the demand by constantly putting up a host of apartments for sale or for rent. This has been particularly supported by financial institutions providing multiple financial solutions to potential homeowners.
Anyone who is interested in buying an apartment in Mombasa will have an extensive variety to choose from. There are lofts for sale, studio apartments, garden and duplex apartments, beach front apartments for sale, penthouses, all available to the diligent property seeking consumer. These flats for sale range from 1 to 3 bedroom apartments in areas such as Shanzu, Nyali and Diani. A buyer also has the opportunity to choose between purchasing and empty apartment, fully furnished apartments or one with extra amenities such as a swimming pool or air conditioning.
Is Buying an Apartment In Mombasa a Good Investment?
In Mombasa, apartments for sale make for good financial investments for various reasons. First, flats demand lower running costs in terms of maintenance, repairs and cleaning, compared to houses. Many of the modern flats for sale in Mombasa have separate charges for maintenance services. Additionally, buying an apartment costs anything between KSh 7 – 20 million, which is circa 15% – 20% more affordable than buying a house. If as a homeowner you may not wish to live in the bought apartment, Mombasa offers a great opportunity to rent it out, what with the high number of constant tourists looking for short term accommodation.
Finally, most of the apartments for sale in Mombasa are built in prime locations that are in close proximity to the Central Business District, major roads and major social amenities. They are often newly built or renovated, with security features such as fences, alarm systems and guards 24/7.
Pictures by Jumia House