How to find smart property investments

Buying property in an already established, premier location often seems like the safest choice for returns on your investment, but that does not make it the ‘smart choice’. Increasingly, as the property market matures and develops, investing in real estate in an up-and-coming location is becoming a very interesting way to make faster returns. As a result, these sort of locations are becoming known as smart investment areas.

When you buy in an established premier area, you are already paying at the top of the market and while your property may well increase in value, because of the demand in the location, a smart investment area is likely to grow returns faster as the popularity of the area becomes established.  Getting in early, when prices are lower, is the secret to success.

The best investments are often in the spill-over markets in the outskirts of the city.  Communities just outside the urban centres are increasingly where growth is happening. As people become priced out of the city or limited premier areas, the more affordable areas start to grow fast and mimic the perks of the urban centre.

There are a number of areas emerging as up-and-coming locations around Kampala from Entebbe and Bunga to Konge Hill. Konge Hill is a good example of a smart investment location.  It has the three key factors that define that term:

• Desirable lifestyle surroundings
• Good connections to the city,
• A growing number of high-quality amenities from hotels to restaurants choosing the area for their business success.

Konge Hill offers highly desirable lifestyle surroundings. It is one of Kampala’s highest points with breathtaking views over the city and Lake Victoria as well as clean air and open space surroundings.

In terms of connections, the improved extended road network linking the new Entebbe Highway to the foot of Konge Hill makes getting to the city and from the airport a swift trouble-free 25-minutes.

While characterised by its tranquility,  the hill also delivers on high-quality amenities.  It is surrounded by popular business and social neighborhoods which are within easy reach. They include Speke Resort Munyonyo, Lake Victoria, and the fashionable Munyonyo area. 

This is why a number of restaurants and hotels have chosen the area, for example, Latitude 0° chose it to locate its luxury hotel.   Karanja Nzisa, the sales and marketing manager of Latitude 0° explains, “The natural beauty of the area, close proximity to the airport and city made it the perfect spot to attract people who want to stay or dine in luxury surroundings with guaranteed peace and tranquility, helping people escape to a world removed from the frenetic energy of the city”.

Jakana Heights Luxury Apartments is another example of premier investors choosing Konge Hill. The apartments sit atop Konge Hill and look over the picturesque view of Lake Victoria. With such a strategic location, the property offers a smart investment, as its upcoming area ensures investment value that will increase quickly over time.

In terms of lifestyle and leisure, there are a range of options at Konge Hill to suit the needs of first-time homeowners to families and those investing for their retirement. 

The surrounding area provides hiking trails, jogging areas, or beautiful locations for a family picnic.  Apartments such as Jakana Heights can take full advantage of the growing luxury facilities of the area.  Places like Latitude 0°, mean wellness centres, swimming, a bar for drinks with friends, or a quality restaurant for family celebrations are on the doorstep.

When making a decision about which area to choose, make sure you take a look not only at the established areas in Kampala but also the up-and-coming locations and particularly those with the three key attributes of a smart investment area.

My top tip for smart property investors; always have in mind that developing areas are constantly changing and what was once somewhere you had not heard of can quickly become a smart investment area within a space of months or a few  years.

SMART INVESTMENTS

When making a decision about which area to choose, make sure you take a look not only at the established areas in Kampala but also the up-and-coming locations and particularly those with the three key attributes of a smart investment area.

The writer Moses D Lutalo is the managing director at Broll Uganda Limited.