An investigation on reasons for increased real estate investments in narok town and its vicinity

Abstract

This research project is meant to investigate on the reasons for increased Real Estate Investment in Narok Town and its vicinity. Real estate investment plays crucial role in providing employment opportunities, offering shelter to households, enhancing income distribution and alleviating poverty. Real Estate comprises of lands plus anything permanently fixed to it, including buildings and other items attached to the structure. It can also be defined as anything that include undeveloped land, houses, town homes, office, building, retails store and factories (Brown and Matysiak, 2000). According to (Syagga, 1987) the principal types of real estate property includes-: rural land use (which consists of farmland, forestry and mineral land), urban land which consists of (commercial, industrial and residential properties) and special type of property such as (petrol stations, recreational facilities, hotels and restaurants, halls and places of assembly and institutional property. The objectives of this study are to determine how real estate investment growth has been affected by population growth, development of institutions of higher learning, availability of developer and end-user finance from financial institutions and resurgence of mid-market as well as growth of Narok town as a regional base. The sample has been selected using simple random technique. Primary data collection method has been used, that is; face to face interviews, direct observation and questionnaires. The researcher approaches the respondents and requests them to participate in the surveys. Data has been collected and is analyzed using Computer software, Microsoft word and SPSS then it is edited for accuracy, consistency and completeness. At the end of the research project, summary of findings is given out and recommendation of areas of further research is suggested.