| The construction boom at Riat Hills in Kisumu, Kenya, | | | | tremendously changed the area's property market |
| is transforming the property market in the lakeside | | | | price. |
| city. | | | | According to real estate agents, an acre of land at |
| Residential property developers are rapidly changing | | | | the area fetched less than Sh200,000 in 1992. Today |
| the face of the little known Riat Hills into a palatial | | | | the same is selling at Sh2 million or even Sh2.5 million. |
| estate. Situated along the Kisumu-Kakamega Road, | | | | Ounga Commercial Agencies Director, Mr. Eric Ounga, |
| the estate has acquired the much needed face lift; | | | | was recently quoted by The Standard newspaper |
| with modern maisonettes and bungalows dotting the | | | | saying that the value of property at the estate |
| hilltop. | | | | would appreciate further if the infrastructure was |
| The ambiance of the estate and the aerial view it | | | | improved. |
| gives of the lakeside city, and of Lake Victoria, | | | | "The potential of Riat Hills as a residential and |
| explain why investors are rushing to acquire property | | | | commercial estate is enormous, but the Council needs |
| in the area. An afternoon walk around the estate | | | | to do more to encourage investors," said Mr. Ounga. |
| shows dozens of modern architectural designs of | | | | Most developers atop the hill attribute the estate's |
| maisonettes and bungalows - in expansive | | | | rapid development to lower construction costs as a |
| compounds - standing behind well trimmed edges that | | | | result of the availability of rocks. This means they |
| are the main attractions on the hill. | | | | spend less money digging foundations because there |
| Riat Hills, reminiscent of Kitsuru and Karen in Nairobi, | | | | are rocks. On the other hand, homeowners say they |
| now joins the league of other Kisumu upper class | | | | are attracted by the ambiance of the area as well as |
| estates such as Milimani, Tom Mboya, Mountain View | | | | the aerial view of Kisumu. |
| and Kenya Re. Consequently, as more people opt to | | | | "It is cool up here compared to the high |
| settle at the hill, demand for property in Milimani and | | | | temperatures around the city centre," says Janice |
| Tom Mboya estates has reduced. This has | | | | Atieno who owns a bungalow in the estate. |