Navigating the real estate market in Kenya can be an exciting journey, but behind every successful property purchase lies a crucial legal backbone: conveyancing. Conveyancing is the legal transfer of property ownership from a seller (vendor) to a buyer (purchaser). While it may seem like a straightforward exchange of cash for a title deed, the process in Kenya involves strict legal checks, statutory...
Comfortable housing affordability on a Kenyan salary is governed by the Central Bank of Kenya's (CBK) 1/3rd Debt-to-Income (DTI) rule, which restricts monthly mortgage repayments to a maximum of 33.3% of your net monthly income. At current commercial mortgage rates averaging 13.5% p.a. over a 20-year tenure, your maximum home purchase price is approximately 2.5 to 3.0 times your annual gross salary...
What Is Stamp Duty in Nairobi Real Estate? Stamp duty in Nairobi real estate is a tax charged on the transfer of property ownership. It is paid to the Kenya Revenue Authority (KRA) and is one of the biggest upfront costs buyers face when acquiring a home or piece of land. This fee applies whether you are buying an apartment in Kilimani, a townhouse in Lavington, or land in Kiambu. For many buyers,...
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