Do you have these concerns- How much does a 2 Bedroom cost in Kenya? What is the average cost of a 2 bedroom apartment in Kenya? or how much does an apartment cost in Kenya? If you have such questions, you have come to the right place. In this guide, you will discover various types of 2 bedrooms, how much they cost in Kenya, with insights into trends, and the value offered by Capital Garden Apartments whose affordable price starts at Ksh. 9.9M.
When you’re on the hunt for a 2 bedroom apartment in Kenya, whether for investment or living purposes, understanding the cost dynamics is critical.
According to the Reits Association of Kenya, The Kenyan real estate market has witnessed substantial growth over the past decade, driven by urbanization, demand for affordable housing, and a growing middle class.
What’s the Average Cost of 2 Bedroom House in Kenya?
How much is an apartment in kenya? Well, the cost of 2 bedroom house or apartment in Kenya relies on these factors: location, amenities, and the type of property. On average, the cost of 2 bedroom in major cities like Nairobi, Mombasa, or Kisumu is KES. 11.5 million. This is within a range of KES. 8 million to KES. 15 million. In more suburban areas or smaller towns, you might find cost of 2 bedroom houses and apartments priced as low as Ksh 5 million.
In Nairobi, the capital city, prime areas like Kilimani, Westlands, and Kileleshwa have 2 bedroom apartments ranging from Ksh 10 million to Ksh 20 million. This wide range reflects the diversity in property types, from luxury high-rise apartments to more modest flats.
Cost Comparison by Location
Nairobi:
Nairobi, being the hub of economic activity, has a significant influence on real estate prices. In upscale neighborhoods like Kilimani and Westlands, a 2-bedroom apartment may cost between Ksh 10 million to Ksh 20 million. In more affordable areas like Ngong Road or Kasarani, prices range from Ksh 6 million to Ksh 12 million. (Check Capital Garden 2 bedroom Price. It’s lower from my point of view)
Mombasa:
Mombasa, known for its coastal charm, offers a mix of residential and holiday homes. A 2-bedroom apartment here might range from Ksh 7 million in Nyali to Ksh 15 million in prime beachfront locations.
Kisumu:
Kisumu, a growing city on the shores of Lake Victoria, presents more affordable options, with 2-bedroom apartments priced between Ksh 5 million and Ksh 10 million.
Eldoret and Nakuru:
These rapidly developing towns have seen a surge in real estate investments. In Eldoret and Nakuru, the cost of a 2-bedroom apartment typically falls between Ksh 5 million to Ksh 9 million, depending on proximity to town centers and amenities.
What is Apartment Renting vs. Purchase Cost?
Deciding whether to rent or buy a 2 bedroom apartment in Kenya is a significant financial consideration. Renting a 2-bedroom apartment in Nairobi can cost anywhere from Ksh 25,000 to Ksh 100,000 per month, depending on location and amenities.
Over a year, renting could cost you between Ksh 300,000 to Ksh 1.2 million, making ownership an attractive long-term investment. With properties like the Capital Garden Apartments, you have the opportunity to invest in a 2-bedroom apartment at prices starting from Ksh 9.9 million. Considering that rent in similar high-demand areas can be substantial, owning an apartment not only provides security but also has the potential for property appreciation.
What are the Construction Costs of a 2-Bedroom House in Kenya?
For those considering building their own home, the cost of constructing a 2-bedroom house in Kenya is another hurdle factor. On average, the construction cost per square meter ranges between Ksh 35,000 and Ksh 60,000. Therefore, building a 2 bedroom house of approximately 90 to 100 square meters could cost you between Ksh 3.5 million to Ksh 6 million, excluding the cost of land. This is a hurdle but you can buy instead at almost the same price.
While constructing a home might seem cheaper, it comes with challenges like land acquisition, sourcing materials, and dealing with contractors. For those who prefer convenience and immediate availability, investing in a ready-built apartment like those at Capital Garden offers a hassle-free alternative.
What are the Real Estate Trends in Kenya?
Kenya’s real estate market has shown resilience despite economic challenges, with an increasing demand for residential housing. Key trends include the rise of mixed-use developments, gated communities, and the growth of affordable housing projects.
In Nairobi, areas like Kilimani and Lavington have witnessed significant developments with high-rise apartments offering modern amenities. This trend is driven by urban professionals and expatriates who prefer the convenience of living close to their workplaces.
Capital Garden Apartments is part of this trend. Its offering you 2-bedroom apartments with modern features such as master ensuite bedrooms, washing areas, and multiple bathrooms. These units are designed to meet the needs of modern families and professionals looking for comfort and convenience.
Mortgage Options for 2 Bedroom Apartments
Financing the purchase of a 2-bedroom apartment in Kenya is made easier with mortgage options from various financial institutions. Banks such as KCB, Equity Bank, and Co-operative Bank offer mortgage products with interest rates ranging from 12% to 15% per annum.
With Capital Garden Apartments, you can take advantage of these mortgage options to own a 2 bedroom apartment at an affordable rate. For instance, the C1 unit at Capital Garden, priced at Ksh 10 million, can be financed through a mortgage, allowing you to spread payments over 1 to 2 years.
Affordable Housing Projects in Kenya
The Kenyan government, in partnership with private developers, has launched various affordable housing projects aimed at providing quality homes at reasonable prices. These projects typically target middle-income earners and are located in areas like Athi River, Kitengela, and Thika.
However, while these projects offer affordability, they may not provide the same level of amenities and location advantages as developments like Capital Garden Apartments. For buyers looking for a blend of affordability and luxury in a prime location, Capital Garden’s 2-bedroom units starting at Ksh 9.9 million present a compelling option.
Cost of Furnished vs. Unfurnished Apartments
The decision to buy a furnished or unfurnished apartment can significantly affect the overall cost. A furnished 2-bedroom apartment in Nairobi can be up to 20% more expensive than an unfurnished one due to the cost of furniture and appliances.
For example, while an unfurnished 2-bedroom apartment in Kilimani might cost Ksh 10 million, a furnished equivalent could go for Ksh 12 million. Capital Garden Apartments offers unfurnished 2-bedroom units, allowing buyers to furnish their homes according to personal taste and budget.
Other Costs in Buying a 2 Bedroom Apartment
When purchasing a 2-bedroom apartment, it’s essential for you to be aware of additional costs that may not be immediately apparent. These can include:
- Stamp Duty: Typically 4% of the property value.
- Legal Fees: Usually 1.5% to 2% of the property value.
- Valuation Fees: Around 0.25% of the property value.
- Service Charge: Monthly fees for the maintenance of common areas, which can range from Ksh 5,000 to Ksh 15,000 depending on the property.
At Capital Garden Apartments, transparency is key. As a Buyer, you are fully informed of all costs involved, ensuring there are no surprises down the line.
Off-Plan Prices and Benefits
Purchasing an apartment off-plan – that is before construction is complete – can offer you significant cost savings. Off-plan prices are generally lower than the market value of a completed property, providing an opportunity for buyers to gain equity as the property appreciates.
Capital Garden Apartments offers off-plan units with 2 bedroom prices starting at Ksh 9.9 million. By purchasing off-plan, you not only secure a lower price but also have the flexibility to choose your preferred unit and make customizations during construction.
Luxury 2-Bedroom Apartments in Kenya
For those with a taste for luxury, the Kenyan real estate market offers high-end 2-bedroom apartments with top-notch amenities. In Nairobi, luxury apartments in areas like Riverside, Karen, and Runda can cost upwards of Ksh 20 million.
However, luxury doesn’t always have to come with a hefty price tag. Capital Garden Apartments, while affordable, do not compromise on luxury. With features like spacious master ensuite bedrooms, modern kitchen fittings, and high-quality finishes, these 2-bedroom units offer luxury living at a fraction of the cost.
Property Appreciation and Investment Potential
Real estate in Kenya has consistently proven to be a sound investment, with property values appreciating over time. In prime areas like Kilimani, where Capital Garden Apartments is located, property appreciation rates have been particularly strong, making it an attractive option for investors.
Purchasing a 2-bedroom apartment at Capital Garden not only offers immediate value but also the potential for significant capital gains as the property appreciates.
Cost of Maintenance for 2 Bedroom Apartments
Owning an apartment comes with ongoing maintenance costs, which include repairs, service charges, and utilities. The service charge for a 2-bedroom apartment in Nairobi can range from Ksh 5,000 to Ksh 15,000 per month, depending on the amenities and services provided.
Capital Garden Apartments offers competitive service charges, ensuring that the property is well-maintained without burdening the homeowners. The development management team takes care of common areas, security, and other essential services, providing a hassle-free living experience.
Gated Communities and the Cost of 2-Bedroom Houses
Gated communities are becoming increasingly popular in Kenya, offering security, privacy, and a sense of community. The cost of a 2-bedroom house in a gated community can be higher due to these added benefits.
Capital Garden Apartments is part of a gated community, providing residents with 24/7 security, controlled access, and well-maintained communal spaces. The prices of 2-bedroom units in this development are highly competitive, given the advantages of living in a secure and well-planned community.
Capital Garden Apartments is The Best Value for Your Money!
Located in Kilimani, one of Nairobi’s most sought-after neighborhoods, Capital Garden Apartments offers exceptional value for buyers seeking 2 bedroom units. The development features four different 2-bedroom layouts, each designed to meet diverse needs and budgets:
- C4: 2 Bdrm 94M² @ Ksh 9.9M: This unit offers 2 bathrooms, a master ensuite, and a washing area, making it an ideal choice for small families or investors.
- C1: 2 Bdrm 96M² @ Ksh 10M: Slightly larger, this unit also features 2 bathrooms, a master ensuite, and a washing area, providing extra space and comfort.
- C2: 2 Bdrm 100M² @ Ksh 10.5M: This layout includes 3 bathrooms and 2 master ensuite bedrooms, offering an added convenience for families or individuals requiring more privacy.
- C3: 2 Bdrm 102M² @ Ksh 10.7M: The largest of the 2-bedroom units, this apartment features 3 bathrooms, 2 master ensuites, and a washing area, catering to those who value space and luxury.
Capital Garden Apartments not only offers affordable pricing but also a range of amenities, including secure parking, a gym, and landscaped gardens. With its prime location, close to shopping malls, schools, and hospitals, this development provides everything you need for a comfortable and convenient lifestyle.
Summary
In summary, the luxury 2 bedroom cost in Kenya (Which is KES.11.5 Million on average) is influenced by your location, the amenities you want, and the property type. Whether you’re looking for an affordable option in the suburbs or a luxury unit in a prime area, Kenya’s real estate market has something to offer everyone.
For those seeking the perfect balance of affordability, luxury, and prime location, Capital Garden Apartments in Kilimani stands out as an excellent choice. With 2-bedroom units starting at just Ksh 9.9 million, this development offers exceptional value for your money, making it an ideal investment for you as a homeowner or investor.
Don’t miss out on the opportunity to own a piece of Nairobi’s vibrant real estate market. Contact Capital Garden Apartments today to learn more about available units and take the first step toward securing your dream home. (Discover 1 bedroom apartments and their prices in Nairobi)
Are you ready to invest in a 2 bedroom apartment in Nairobi and reap maximum benefits? Explore the exceptional value offered by Capital Garden Apartments in Kilimani. Contact us now at +254112199999 or [email protected] for more information and to schedule a viewing.
