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RE/MAX Kenya is a privately held real estate franchise company launched in 2013 with over 10 agents with access to remarkable real estate projects in the country.  RE/MAX, which premiered as an exhibitor in Kenya at the 2014 Classic 105/CFC Stanbic Homes and Auto Expo, is offering low cost housing comprising two and three-bedroom apartments ranging from Sh2.5 million to Sh3.5 million at a time when reports indicate that only 23 per cent of salaried Kenyans earn more than the Sh50,000 monthly needed to comfortably acquire a home, effectively locking many out of the property market, according to reports by the Kenya National Bureau of Statistics (KNBS).

In addition, the high interest rates on mortgages, standing at 15.7 per cent on average, has ensured that many Kenyans are unable to service loans on the highly priced property on offer and still make ends meet, with data from the KNBS indicating that the average monthly salary in Kenya is Sh12,500. Currently, just one per cent of urban Kenyans can afford the mortgage repayments for a house priced at Sh5.7 million, with prevailing trends indicating that the affordable housing market is short of hundreds of thousands of homes, according to the National Housing Corporation.

RE/MAX Kenya, which is presenting a portfolio of property worth Sh4bn at the Homes and Auto Expo through its extensive network of real estate agents, has for this reason embarked on an ambitious plan to service the lower and middle market segments with homes at friendly prices amid limited supply by key real estate players.

“The traditional real estate market in Kenya has been overly focused on the upper middle class and upper class segments. However, a number of more affordable developments are coming up, of which the general public remains unaware. We are coming in to bridge this gap by enabling Kenyans gain access to these properties, and hence meet the high demand for low cost housing,” said Charles Odere, RE/MAX Kenya CEO.

Among the key offerings available from the real estate giant are at least 10 developments comprising two and three-bedroom apartments in the serene out-of-town localities of Syokimau, Athi River and Kitengela, priced at up to Sh3.5 million.

In addition to meeting the needs of the lower end of the real estate market, RE/MAX also caters to the upper middle and upper class segments. The famed Serenity Apartments for example are on offer at 20 million and 25 million shillings for two and three-bedroom apartments respectively, with penthouses available for Sh30 million.

At the Homes and Auto Expo, RE/MAX Kenya will be showcasing a variety of homes ranging in price from Sh2.5 million to Sh95 million. With a wide catalogue of homes on offer for all market segments, RE/MAX is set to offer the most lucrative bargains in this year’s edition of the expo, running from 5th to 7th September 2014.

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