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The Nairobian

Investors woo Kenyans with ‘cheap’ land in America

News

By Domnic Omondi | Apr 15, 2016

NAIROBI, KENYA: For as little as Sh26, 300 per month, Kenyans can now own a piece of the United States (US).

This is according to some United States’ investors who are currently in the country to market investment opportunities in the US.

You will pay a down-payment of 20 per cent and then settle the rest in 60 months by paying as little as Sh26, 000 per month.

For an undisclosed fee Kenyan investors can own a piece of land in one of the three resorts managed by Double Diamond Resorts in the North East of the US. Double Diamond Resorts is a national resort development company.

Already, there are 400 Kenyans who own property with Double Diamond in the US.

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The ownership of the land is outright as the buyer gets the title deed that enables him to own the land for a lifetime or until that time when he feels like transferring it.

Besides stability, the investors are also drumming up the investments' modest returns. For example, one of the resorts, Eagle Rock Resorts, has been appreciating by an average of 15 per cent for the last 4 years.

One can build a piece of home on his piece of land, but mostly they leave it for others to develop a members-only club. The owner is then entitled to a free entry to this resort where he can enjoy 2-golf course, 24-hour security, ski-slopes, tennis ports, spa and others.