Real Estate firm Khalif Homes has unveiled a multi-storey residential apartment, that will be offered to buyers on a rent-to-own basis.
The apartment, dubbed Khalif Heights, will see buyers pay Ksh200,000 per month for the first two years, then Ksh150,000 per month for another two years after which they will own the two bedroom units.
“They can pay 50 percent for the first two years then rent out the apartment for Ksh150,000 per month in the other two years. This will see the apartments “buy themselves” in four years,” said Khalif Homes sales manager Mr Elly Yuaya.
The apartment comprises of a two, three and four bedroom units.
In total, a two bedroom apartment will go for Ksh9 million, three bedroom apartment will cost a total of Ksh15 million, while a four-bedroom apartment will cost Ksh18 million.
“Some of the amenities available include a swimming pool, ample parking, power back-up generator, kids playground, high speed lifts and a borehole,” adds Yuaya.
In a rent-to-own agreement, the buyer pays the seller a one-time upfront fee called the booking fee, in this case 10 percent. This fee is what gives you the option to buy the house by some date in the future.
“The new development consists of 3 and 4 bedroom apartments with dsq combined with unique blend of generously proportioned interiors and the enjoyment of swimming pool, gym and sauna with over 10,000 sqft of indoors and outdoor amenities,” says the company on their website.
The company seeks to leverage on Parklands population, which is projected to have a high purchasing power and has sustained property demand creating a market with strong growth trends and high forecasts of future growth in real estate values.