How August 2022 Elections in Kenya will impact Real Estate Market in Kilifi

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How will elections in Kenya 2022 going to affect Kilifi county? Kilifi County is located on the Indian Ocean coast of Kenya, just over 1,000 miles from Nairobi. It’s popular with tourists for its beaches, which are beautiful and uncrowded. The county also contains several important historical sites and was a major source of slaves for Arab traders prior to colonization by Europeans.

As we get closer to the date of the general elections in 2022, it is imperative that we look at what the real estate market in Kilifi will be. The reason for this is that there will be elections for a governor, senator, and other representatives. Voters will also be electing county assembly members who will be in charge of making laws for the county.

The outcome of these elections could have an effect on the property market and housing industry in the county. This article seeks to look at how this election could affect the real estate market in Kilifi County. The year 2022 general elections will be a major event that will affect the real estate market in Kilifi County. The most important factors that will determine whether or not the general elections in 2022 will affect the real estate market in the county are the following:

2022 Elections in Kenya Bring Hopes for Job Creation

First, almost half of the current population of Kilifi County is below the age of 18 years. This large young population is going to contribute to the growth of the real estate market in Kilifi County. This huge population is a big support for the high demand for housing and commercial buildings.

Second, the political environment within Kilifi County has been stable for many years now and there have been no signs of violence within this county or any other counties that border Kilifi County. This stability has created an environment that is very conducive for businesses to thrive without fear of being disrupted by violence which is a major factor that would have hindered the growth of business within this region.

Third, due to its proximity to Mombasa, it is very easy to reach Kilifi County from Kenya’s second-largest city hence making it very attractive for investors to invest in commercial buildings within this region and this offers another reason why investors will consider investing in real estate within this region. Fourth, a lot of people move out from Mombasa City looking forward to living in rural areas which are areas in Kilifi County.

The 2022 general elections in Kenya are drawing near. The real estate industry in Kilifi County will be affected by the possible change of government. The real estate market will be affected in different ways. It is essential to note that the 2022 general election may or may not happen depending on the political stability as well as economic stability of Kenya.

Kilifi County is a tourist destination that has many places to visit. Some of them are:

  • Watamu Beach
  • Gede Ruins
  • Jumba la Mtwana Ruins
  • Rabai Museum
  • Mekatilili wa Menza Site
  • Watamu Treehouse
  • Malindi Museum

Amenity-rich places to live like Kilifi Bay, Shimoni and Watamu have been opted by investors as the best places to live and do business. Hotel businesses thrive in these areas because of tourism which is the major contributor to the county’s economy. Some of the best hotels in the county include Silver Pam Spa and Resort, Kilifi Bay Beach Resort, Boabab Sea Lodge etc..

This has had a positive impact on the real estate market in Kilifi County. It has attracted tourists from within Kenya and outside who are looking for both residential and commercial properties in this county. The 2022 general elections will affect these affluent people because they contribute significantly to government revenue and make taxes possible for other people. So it’s crucial for them to be happy with how things unfold in Kenya before, during and after the general elections in Kenya.

In turn, this has led to real estate boom in this county, especially on prime property. There are various projects under construction along these places of interest which range from hotels, restaurants, apartment blocks, spas and commercial buildings. Some of the residential settlement areas in the county include Chonyi, Ganze, Kaloleni, Rabai and Magarini consisting mainly of informal settlements.

The main reason why the coming 2022 elections in Kenya will affect tourism rates is that if people do not like who gets elected as governor, then tourism rates will drop due to the lack of people travelling to the county. Another reason why tourism rates will drop is if there is too much campaigning going on by the different political parties in town; this could create a lot of problems for local residents because they may not want to live where there

The 2022 general elections in Kenya will have a significant impact on the real estate market in Kilifi County. The main parties vying for power are the current ruling party and its main rival, an alliance of opposition parties. Both parties have strong opinions about how to drive economic growth, and their success will likely be reflected in the local economy.

At the moment, Kilifi County is undergoing a construction boom; there are several new buildings and expansions to existing buildings being constructed along the Mombasa road route and nearby. Many investors are coming into the area to invest in real estate developments as a result of this construction boom.

This growth is putting pressure on many locals who see the prices of their houses rising. Many people who have lived in the area for decades are now finding that they are unable to sell their houses due to high property prices.

The current ruling Jubilee party was elected in 2017 on a promise to promote sustainable economic growth. While the party has had mixed results carrying out this agenda, it has given Kilifi County’s real estate market a boost. The government has invested billions of shillings into expanding infrastructure in the county, including roads, water supply and electricity.

There is also a push to build more schools and universities in Kilifi County. This growth is expected to continue or even accelerate if the Jubilee Party in Azimio Coalition party stays in power through 2022.

The Azimio coalition party is led by Raila Odinga, whose policies focus on improving basic services like water supply and electricity while reducing reliance on foreign aid by promoting greater industrialization within Kenya.

Odinga’s policies are thought to be more beneficial for long-term economic growth than those of his rivals, which could possibly result in a boom for the real estate market in this county perceived to be his stronghold if elected to become Kenya’s fifth president.

At the Governor’s seat, political battles within Kenya Kwanza Aisha Jumwa and Mung’aro of the Orange Democratic Movement may influence the implementation of infrastructural projects that will in turn affect the real estate market in Kilifi as per each individual’s coalition policy.

The national government launched tarmacking of the Bamba-Ganze-Kilifi road in November 2021 and it is to be completed in 3 years. It will greatly improve the economy of the county. The government formed after the 2022 elections will not greatly influence the completion of the project. The dualling of the 40km Mtwapa-Kilifi road to boost business and tourism is expected to be fulfilled faster if George Kithi, a gubernatorial candidate endorsed by the outgoing Governor Amason Kingi is elected.

Generally, the county is always peaceful according to the previous elections in Kenya and let us see how the August elections will influence the real estate market in Kilifi.

Do you have a project in mind after the 2022 elections in Kenya and you would want a credible construction company in Kenya to undertake your project? Talk to us.

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