Kenya has quite a robust property market with the highest industry activity being seen in Nairobi and the suburbs. There is a different trend emerging in the industry which has seen a lot of diversification in investment. The recent trend has been the investment on the furnished and serviced apartments.
Serviced apartment is a type of furnished apartment available for short-term or long-term stays, which provides amenities for daily use. Serviced apartments typically include soft-furnishings and cooking utensils so that short term tenants need not bring their own, and have cleaning services included in the rent. Many real estate developers are venturing in this market with the increase in demand for the furnished and serviced apartments.
Why Should You Consider Investing in Serviced Apartments?
First and foremost, the demand and preference for serviced apartments is on the rise especially in the city. Hotels have previously dominated the short rentals market but today we have seen the rise of demand for the serviced and furnished apartments. The main reason behind the rising popularity of serviced apartments is the fact that they are a convenient and cost-effective accommodation option for leisure and business travellers looking for extended-stay accommodation with close resemblance to apartment-style living. With Nairobi being the regional hub to over 100 major international companies and organizations, including UN agencies, there is definitely a huge demand for serviced apartments.
The other main reason why you should consider investing in serviced apartments is the fact that serviced apartments offer relatively strong returns with relatively low risk.
Is it wise to invest in serviced apartments?
With the steady growth of business travel and tourism in the region, and consequently high-to-full occupancy rates, serviced apartments are becoming more widespread across Nairobi. This is especially true for Lavington, Kilimani & Westlands areas which are a favorite with locals and expatriates alike.
With studio, 1 and 2 Bedrooms fully furnished apartments at Taarifa Suites Apartments in Muthithi road investment in serviced apartments is fast catching on in the Kenyan property market, and is likely here to stay. The price is very competitive with the studio going as low as 95 000 per month.
An elegant, state of the art set of luxury fully furnished & serviced apartments right next to the Thika Super Highway.
Tucked in Kenya’s capital Nairobi, Taarifa Suites is located in the centre of Westlands right next to the Super Thika Highway. Away from the hustle and bustle of the city center yet in the most convenient location.
Taarifa Suites is designed for the discerning clientele, fully fitted, furnished and serviced with state of the art fittings and furniture. The ambience at Taarifa Suites is that of a home away from home while providing security and internet connectivity to enable our clients to keep in touch with family and offices around the world. We have 41 apartments with a variety of studio apartments, pent, one and 2 bedrooms.
Life in a studio is simple living at its finest. Everything you need is there – a roof over your head, a place to sleep, a place to cook and eat.
You also have room for those touches that make a space home. Walls to hang pictures, a window ledge to place a vase of flowers, a closet or corner for mementos and books. What you do not have room for, you truly don’t need right now.
The pent – condominium which is a single dwelling that is on the highest floors of the building. Penthouses are typically differentiated from other apartments by luxury features and stunning views.
In the one bedroom will notice that the living room is very well furnished with a sofa sleeper, two seater chairs, 4- seater dining and a nice audio-visual system featuring both a large TV with a stereo and a CD/DVD player.
Elegant two bedroom spacious apartment with a 6 seater dining table, 3 seater imported fabric sofas. I addition to other fittings, the apartment enjoys two air conditioning units with a controller.