In recent years, several factors have influenced the decisions of Kenyan youth when it comes to purchasing land. These factors embody the complex interplay of economic, social, and cultural dynamics. Understanding the factors sheds light on the challenges and considerations that youth face when contemplating land ownership in Kenya.
Factors making it difficult for youth to invest in land
All of the factors below have played a role in shaping the youth’s attitudes towards land ownership:
High Land Costs: For youth with little financial resources, the cost of land in Kenya, particularly in metropolitan and well-developed areas, can be quite high, making it difficult for them to purchase land.
Unemployment and Low Income: High rates of youth unemployment or underemployment make it difficult for them to accumulate enough money to buy land. A lack of consistent and sufficient income makes it difficult to invest in such a large asset.
Inadequate Information: Lack of understanding about the real estate market, property ownership processes, and legal procedures may discourage them.
Inheritance issues: Traditional land tenure systems, where land is passed down through generations, may hinder their ability to purchase land. Youth may find it difficult to buy land if they know it will be given to them as an inheritance.
Preference for Liquid Assets: Many young people may prefer assets with higher liquidity and faster returns. This includes stocks, bonds, establishing a business, and owning land, as it is a less liquid asset.
Urbanization and Lifestyle Changes: Youth choose the freedom of city living, such as renting apartments, versus committing to rural property ownership.
Why should the youth in Kenya invest in land early?
Long-term investment: Land’s value tends to rise with time, making it a potentially profitable long-term investment. Young people can benefit from the appreciation of land values as they age. By purchasing land early, you provide them with a valuable asset that can support their financial aspirations in the future.
Wealth creation: Land ownership can serve as a cornerstone for wealth creation. This assists the young people in establishing a secure financial foundation for themselves and their families. Land appreciation might add significantly to the youth’s entire net worth.
Personal development: Buying and owning land requires knowledge of legal procedures, financial management, and property maintenance. This experience can improve young people’s financial literacy and personal development, providing them with vital life skills.
Stability and security: Owning land gives you a sense of stability and security. It can provide a permanent place to live or create, minimizing the uncertainty associated with changing rental conditions.
Legacy creation: Owning land allows young people to leave a legacy for their families. They can pass the land along to future generations, leaving a lasting legacy and providing security for their successors.
Future developments: Owning land opens up future possibilities. Individuals who own land have the option to develop it in accordance with their choices and needs. They can build a house, start a business, and practice agriculture, giving them more control over their living and working circumstances.
How can youth start investing in land?
Realizing the potential of young minds and the significance of property ownership, Nyota Njema Real Estate recognized the pressing need to support and empower the youth in securing their financial footing.
In a bid to empower and encourage young individuals to invest in their future, we launched a youth-dedicated land project. The NANYUKI PEARL
This visionary initiative aims to provide youth with the opportunity to own land and pave way for financial independence and prosperity. We are not only cultivating a sense of responsibility and ownership by tailoring the projects exclusively to the youth demographic, but also fostering a generation of investors ready to shape their own destiny.
The Nanyuki project seeks to address the lack of access to land for the youth and to promote youth entrepreneurship. It seeks to create enabling environments for youth to access resources and services needed to achieve success through land ownership.
The heart of this youth-focused project lies in its exclusive land offerings. We have set side specific parcels of land, carefully selected for their growth potential, scenic beauty, and accessibility. These prime properties are made available solely to young adults aged between 18 and 35 years. This will allow them to access a diverse range of affordable and attractive options.
We have accepted the challenge to fill the gap affecting the Kenyan youth by introducing a project primarily for them. We have devised flexible payment plans tailored to accommodate their needs. These plans offer low initial down payments and convenient monthly installments.
Through the project, the youth can own land, develop and implement housing solutions, and create opportunities for entrepreneurship.
This youth-exclusive land project comes as a beacon of hope in an era marked by uncertainty and financial challenges. By providing means to own land, land investment advice and a supportive team, this initiative shows dedication to empowering the future generation.