Five years ago, I worked in Thika as a valuer. I wanted to be acquainted to all the developments in this fast growing town. One day I decided visit Thika Greens. Then, the only buildings in the compound was the site office and 3 model houses. Then ¼ acre plot was going for Kshs 2 Million. I was very skeptical since at the same time, there were about another 5 golf estates coming up in the country.
I am informed that the first people to buy the plots were buying them for 700,000 when the project began.
Today the plots are going for Kshs 3.5 Million in phase 3 and the price might go up this coming year. In phase 1 that’s all sold out, the price should be about 5 million for ½ acre, if at all you will find someone willing to sell.
Last month, I went to value a plot within Thika Greens. The gate looked the same but as I drove to the site office, i was happy to see a cabro paved drive way and some houses already built and inhabited.
The golf course is still not open but the people who bought into the estate are already enjoying a safe serene place to live.
Living in Thika greens is like living in Karen at a 10th of the price.
I was thoroughly impressed.
Summary.
| Factor | Comment | |
| Location | Excellent. 5 minutes drive from Thika town.
40 minutes drive to Nairobi |
|
| Amenities | Excellent. Will be a fully fledged golf estate with state of the art amenities in a few years | |
| Sustainability | Expensive. You have to pay for the high life you are buying into. Service charge is rumored to be quite high in the golf estate. | |
| Title documents | For Phase 3 that I valued, the individual titles are not out but the banks are lending against the plots either way. | |
| Weather | Cool. This is a coffee growing zone. | |
| Politics | Its in Muranga county. His Excellency the Governor, Mwangi Wa Iria, is pro development. | |
| Capital appreciation | 700% in about 7 years. Very good. | |
| Future prospects | Very good. I project another 700% appreciation in the next 7 years. | |
| To buy or not to buy | TO BUY! |
Kariùki Wawerù
