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FAQ
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What are the property taxes in Ukunda and are there any other ongoing costs I should consider?
In Ukunda, property taxes vary depending on property size and location but generally range from KES 5,000 to KES 30,000 annually. Other ongoing costs include utility payments (water, electricity), security, and maintenance fees. Additionally, if you’re part of a homeowners association, there could be monthly or annual fees for communal area upkeep. Always budget for these recurring expenses when buying property in Ukunda.
What types of upfront costs and fees will I have to pay when purchasing a property in Ukunda?
When purchasing a property in Ukunda, you'll have to cover several upfront costs including the price of the property, legal fees (approximately 1.5% of the property value), stamp duty (ranging from 2% to 4% for residential properties), and possibly agent fees (1% to 2% of the purchase price). Ensure you account for these expenses to avoid surprises.
How does the Ukunda property market compare to ther regions in the Kenya?
In Ukunda, located in Msambweni, Kenya, the average cost of a 3-bedroom house stands at approximately KES 7.20 million, which contrasts significantly with Nairobi's lofty KES 14 million for a similar property. Meanwhile, in Nakuru, buyers can find 3-bedroom houses at around KES 8.5 million, marking Ukunda as a more affordable option compared to Nairobi but slightly less so when juxtaposed with Nakuru. The coastal region's milder property prices reflect a broader trend of varying real estate costs across the country, influenced by factors such as location, amenities, and accessibility.
How competitive is the Ukunda property market?
The property market in Ukunda, located in Msambweni, Kenya, is moderately competitive. With prices for buying plots starting from approximately 795,000.00 KES for a quarter-acre, the area appeals to both investors and homebuyers. The presence of tourist attractions like Diani Beach has stimulated a healthy demand in both residential and vacation rental properties. Recent listings on property websites demonstrate a varied price range, accommodating different budget levels, yet further growth in interest could drive prices higher.
