Username Investments: Real Estate Company Seeks to Make Home Ownership Affordable for Everyone
- Kenya National Bureau of Statistics (KNBS) report showed that more than half of Kenyans do not own a house or land
- The report dubbed Kenya Demographic and Health Survey 2022 revealed that Only 47% of Kenyan men and 32.8% of women own a house jointly with partners
- Real estate firm Username Investment is keen on ensuring Kenyans have a place to call home in 2023
- Username Investment Chief Executive Officer Reuben Kimani said the company will roll out homeownership projects across the country
Kenyans will have a place to call home at an affordable price starting 2023, real estate firm Username Investment has affirmed.
Source: UGC
The property firm's Chief Executive Officer (CEO) Reuben Kimani revealed plans to roll out homeownership projects across the country.
Affordable housing in Kenya
Kimani cited the World Bank report showing Kenya's population growth rate of 2.3% per year, saying it directly impacts demand for housing.
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"The nationwide housing deficit stands at 200,000 units annually. Renting accounts for the majority of the housing market in Kenya with 80% of the Kenyan population in cities living in rentals. Only 20% of urban dwellers own homes," said Kimani in an exclusive interview with TUKO.co.ke.
The CEO noted a continued rise in demand for affordable houses by the majority of Kenyans.
"In line with this, Username Investments will be launching projects across various counties to ensure every Kenyan has an opportunity to own a place to call home affordably in an area of their choice," he said.
Cost of house ownership in Kenya
Kimani said despite the rising cost of living, which reduces disposable income for investment, the company will continue to offer affordable properties with flexible payment plans.
He added the firm will target areas with a high growth rate and ensure value for Kenyans.
"According to a global wealth survey done in December 2022 by Standard Chartered Plc. 50% of the respondents said the rising inflation is the biggest obstacle to achieving their new goals.
"As a company, we will continue to offer affordable properties with flexible payment plans in areas with high growth rates to ensure Kenyans are able to invest and also get value." he added.
Kimani explained that the real estate sector in Kenya is increasingly becoming one of the most attractive investment avenues in Kenya.
Real estate challenges in Kenya
The CEO, however, acknowledged challenges in the sector, where some investors do not eventually receive their title deeds.
He assured Kenyans and investors that Username Investment guarantees title deeds upon the purchase of the property.
"As Username Investments, we are committed to consistently issue title deeds to our clients. So far, we have issued over 15,000 title deeds and served over 17,000 clients both in Kenya and in the diaspora," said Kimani.
Half of Kenyans own houses, land
The Kenya National Bureau of Statistics (KNBS) released the Kenya Demographic and Health Survey 2022, showing most Kenyans do not own a home.
The report showed that more than half of Kenyan men aged 15-54 years do not own a house, home or land.
The survey showed women between the age of 15 and 49 years also do not have their own land or house.
Source: TUKO.co.ke
Wycliffe Musalia (Business Editor) Wycliffe Musalia is a Business Editor at TUKO.co.ke, with over six years of experience in digital media. He holds a Bachelor of Arts in Linguistics, Media and Communication from Moi University. Before joining TUKO.co.ke, Musalia worked as an editorial intern at Standard Media Group. Musalia has completed the full Google News Initiative (GNI) News Lab Advance digital reporting workshop. He has also undergone Procurement Fraud and Public Finance Management Training conducted by the Kenya Editors’ Guild. You can get in touch with Musalia via mail: wycliffe.musalia@tuko.co.ke.
Reuben Kimani (Real estate expert and entrepreneur) Reuben Kimani is the Co-founder and CEO of Username Investment Limited, a leading property company in Kenya. A professional engineer, armed with a first class degree in computer science and a strong background in telecommunication and IT having worked with leading corporates like Safaricom and Kenya Revenue Authority.
