Did you know, Nakuru is now Kenya’s 4th largest city? Nakuru has been growing rapidly, not just as a city but also in population and economic significance. What was once a quiet and scenic town in Rift Valley is now a city on the rise. This makes it an increasingly important economic hub for the Rift Valley region’s commerce, tourism, and real estate. A survey result done by the Institute of Economic Affairs reveals that it is easier to start a business in Nakuru City than it is to do so in other urban centers mainly because of the low tax burden incurred. Its growth and strategic location have turned it into a key player in Kenya’s urban landscape.
Below Are 5 Major Reasons Why Nakuru Should Be On Every Investor’s Radar In 2024.
1. Strategic Location
Nakuru enjoys a strategic location which makes it appear to be the center of most operations. Located along the Nairobi Uganda highway, the City is situated at a key transit hub not only in Kenya but also in East Africa. Within Kenya, Nakuru city is central to all major towns such as Nairobi, Eldoret, Narok, Kisii, and Western Kenya.
2. Infrastructure Development
Since being awarded city status in 2021, Nakuru City has been booming with infrastructure developments. Ongoing infrastructure developments, including the expansion of the Nakuru-Nairobi highway into a dual carriageway and the revival of the Nakuru-Kisumu railway, are set to enhance connectivity, making Nakuru more accessible and viable for boosting trade and commerce to major towns in Kenya.
With improved infrastructure and proximity to major cities, Nakuru businesses will be able to have easy access to raw materials, connect with clients, and distribute products and services.
3. Booming Real Estate Market
Urbanization within the city has made it necessary for real estate to boom as there is increased demand for residential, commercial, and industrial properties. The high surge in demand for housing within Nakuru has created a lucrative opportunity for real estate developers and investors offering affordable plots andland for sale in Nakuru city.
Land prices, while appreciating, are still lower than those in Nairobi, allowing investors to acquire property at a fraction of the cost. This affordability, combined with the city’s growth potential, makes Nakuru an attractive option for both small and large-scale investors. There are various satellite towns within the city which are great destinations for buying land within Nakuru to build your dream home. Are you looking to invest or buy plots for sale in Nakuru? Salgaa, Njoro, Sobea, and Lanet are some of the fast-developing towns strategically located just a few metres away from the city center.
4. Economic Diversification & Investment Opportunity.
What was mainly an agricultural base has grown to be a dynamic economic base. Though agriculture remains the key economic sector for Nakuru, the city has diversified to accommodate different economic ventures such as manufacturing, tourism, and service industries.
Compared to other major cities like Nairobi and Mombasa, Nakuru offers relatively affordable investment opportunities. The Nakuru government has ensured they streamline processes and reduce bureaucracy in a bit to support investors. This way, investors can easily capitalise on this economic diversification and tap into Nakuru’s abundance which will in turn create more jobs and contribute even more to the local economy.
5. Tourism Potential
Worldwide, Nakuru is well known for its natural wonders which have long been attracting both local and international tourists. Main tourist destinations include Lake Nakuru National Park, Menengai Crater, and Hyrax Hill prehistoric sites among others.
Investors in the tourism sector including those in the hotel, tourism, and travel industries can explore the opportunities in eco-tourism, hotel development, and tour operations. With the government’s focus on promoting tourism in the region, Nakuru’s tourism potential is set to soar, making it a promising area for investment.
Conclusion
Amid the economic challenges we face as a country and the relentless burden of increasing taxes, making smart, realistic investments has become essential to navigating these tough times. In light of all this, Nakuru is your go-to investment destination with a promising future. Nakuru City’s strategic location, booming real estate market, and diversified economic potential make it a top investment destination in 2024. As the city continues to grow and develop, why wait to invest later when you can just invest early and reap substantial rewards by buying affordable property for sale in Nakuru by Username Investment Ltd., the best and top real estate company in kenya?
