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KIGALI REAL ESTATE MARKET ANALYSIS

The Kigali property market is a very buoyant one. On average, the houses for rent in the sought after neighborhoods are at least with 3 bedrooms that are normally en-suite. They come at a standard of USD1000/month. Apartments for rent start usually at USD500/month and come with 2-3 en-suite bedrooms. In Kigali, houses for rent are more unfurnished than fully furnished. Apartments, on the other hand, tend to be more fully or partly furnished than unfurnished.

The selling market for real estate is such that houses start from 50,000USD. Apartments for sale generally cost 70,000USD for 1 bedroom, 100,000USD and above for 2 and 3 Bedrooms but this does not mean that you can not get it below 70000USD or 100,000U which differs from locations, neighborhoods and finishing, however demand for houses for sale is much higher, hence its widespread availability. It is also important to know that Kigali properties value keep increasing due to high demand of expats and due to that it is ahead on the list of peaceful and secured countries in the world.

When properties are furnished, you can expect double beds with mattresses and bed sheets, kitchens with fridges, washing machines, microwaves and cookers, living rooms with sofas, coffee tables, flat screen TVs and cable TV connection as well as dining rooms with tables and chairs. On Average, at least 2 cars can be parked on a premises. Apartments for rent are usually maintained for a service fee that may be included in the rent.

Gone are the days of scouting for a reliable real estate agent and then scouring the whole town just to find a good house you can make a home. We’ve already done the heavy lifting for you by collating the most premium real estate in Kigali in one clean and easy to use database that you can filter hassle-free.

Six Things to Consider When Buying a House, Apartments or Plots in Kigali by RWANDAN HOUSES REAL ESTATE AGENCY February11, 2020.

Six Things to Consider When Buying a House in Kigali.

Looking to invest in Rwanda's real estate market, buying a property is a rewarding journey. Investments in real estate are usually life-changing, and some properties can be passed down to generations. These are often the places we call home and the places where we create memories. We do not take this investment lightly, and we are committed to ensuring you overcome any obstacles that are sometimes associated with the process. We have therefore compiled a guide on the top considerations before signing that contract. Read on for our six tips for a successful investment.

1. Have a clear picture of what you want

Searching for a property without specifics is like going to the supermarket without a shopping list. So many things can go wrong. You will either wander around and buy what you don’t need or get frustrated and leave without buying. We suggest focusing your search. Narrow it down to the location you are interested in and the size or number of rooms of the property. Some other questions to consider are: How much can you afford to spend? Do you prefer a house or an apartment? Where is closest to where I work? Where do you want to send your kids? Is proximity important for you? With research showing that first-home buyers spend an average of five years in their home, it is essential to consider your future plans.

This will also help you carry out your online search as you consider what agency to work with. Kigali neighborhoods are distinct. KIYOVU, KIMIHURURA, NYARUTARAMA, GACURIRO, VISION CITY, KAGUGU, KACYIRU, UMUCYO Estate, KIBAGABAGA, REBERO and KAGARAMA are very well known for luxurious properties, where you can get variety of villas and duplexes with big gardens that are ideal for a family. For those looking to buy land, the quickly-urbanizing RUSORORO, KABUGA, GAHANGA, NDERA are also excellent choice. And apart from Kigali, also BUGESERA and MUHAZI are on the top of the list.

2. Do your due diligence

You will probably have to go on five or more house visits before you find a good fit. Rushing the process may increase the chance that you settle for a house that isn’t the perfect fit for your needs. Once you have found a home you are ready to buy, give yourself some time for a second visit to rule out any surprises. After all, this is not a light investment. The more properties you look at, the more you will know what you like and don’t like and what works and what doesn’t.

It is imperative to understand the zoning regulations of the piece of land you are interested in buying. The Kigali Master Plan has already established zones. These regulations include residential areas, Commercial areas, agricultural and protected areas, industrial zones, and a mix-use zone. Depending on what you intend to use your property for, it is important to check the zoning regulations of the house you are interested in buying. This is information your real estate agent can inform you about, together with the UPI of the property. The website of the city of Kigali is another useful resource. The 2020 Kigali Master Plan is the final master plan.

3. Check the quality of construction

You are very likely to see a construction site every few minutes as you move around Kigali, and while this is good news to the current housing deficit, it sometimes means something else for the quality. If the house was built by a developer you do not know, try to get as much information about when the property was built, whether it was renovated, and any other insights that can give you quality assurance.

Once you have good options that have passed your checklist, don’t forget to inspect the house thoroughly. As a future home, you need to ensure that the plumbing works and that the house doesn’t leak – take advantage of a rainy day to schedule a visit. If you prefer buying new, you should consider buying off-plan. The benefit of buying off-plan is that you can choose a trusted developer, monitor the construction process, and get a house you will be happy with. It is also suitable for your financial, because you will most likely pay in installments, and most developers work with banks to offer discounts to their clients.

4. Budget for the unexpected

Let’s face it, in real life, you will have to tweak things a bit to get your ideal house, whether it is renovating the bathrooms or changing the floor. Unless you are buying a house off-plan and customize it to your liking, you usually will need to invest a little extra to get your house ready. With a good deal, your real estate agent can negotiate for the seller to take care of the expenses, which is why the next point is crucial.

5. Get expert help

You may be tempted to go at it solo, especially if you have a small budget, but DON’T DO IT ALONE. Invest the extra buck and get a trustworthy and professional real estate agent. These are the people who understand the industry and can help you avoid a mistake that could cost you your life savings. They know if the seller is in a rush, which can increase your chances at a better deal. You can trust them to sort through the hundreds of listings available online to give you suitable options.

6. Location

It is known all over the world that location matters more than any other things in real estate, in Kigali location or neighborhood means a lot when considering a property to be bought or sold. This is because when buying a property you need to be near to basic infrastructures like good schools, hospitals, supermarkets, nice restaurants, good internet access. So it is very important to work with a professional and trustworthy real estate agent that will be honest with you regarding good neighborhoods of the market.

By RWANDAN HOUSES REAL ESTATE AGENCY