Realtor Daykio Plantations has started a model where buyers of its residential plots at Koma View Estate on Kangundo Road, Machakos, will choose bungalow designs.
Daykio said the 700 plots measuring an eighth of an acre within the gated community will retail at Sh650,000 each while the designed houses will sell at Sh2.5 million for a two-bedroom house and Sh3.5 million for three bedrooms.
The new model allows flexibility in choosing the designs instead of the developers deciding during demarcation of land.
Executive director Kahaki Muindi said giving buyers a free choice of approved house designs would save buyers the trouble of seeking approvals as well as the cost involved in having them done by an architect.
“With this project, we aspire to transform hundreds of families from tenants to home owners where our concept goes beyond selling land into working closely with buyers where we provide technical expertise to a project’s fruition,” says Ms Muindi.
He called for consultations between financiers, developers and government to create new mortgage products that are more affordable to Kenyans.
Kenya has one of the lowest mortgage uptakes in the world, with only 25,000 loans currently being serviced.
Daykio will develop roads, provide water and assist in getting properties connected to the national grid. It has traditionally offered residential developments where it prepares house designs that are sold to buyers as a package with the residential plot. Daykio is also involved in property development.