One-Stop shopping a revolution in property industry

Buying or building a home is more often than not a complicated process and people are finding the process is more manageable when they are also able to get bundled services from their mortgage financier. Consumers today want to deal with one firm and have a single point of contact for all the services that are necessary in the home-buying process.

Apartments in the Kileleshwa Area in Nairobi - Kenya.

Today efforts by Housing Finance to push bundled services are bearing fruit as more home buyers are turning to the firm to offer a variety of services and thereby, are having a better home-shopping experience. The advantages of one-stop shopping include making the transaction less expensive, more manageable, convenient and having agents and other providers working together to ensure completion of the transaction. Players in the construction and property industry continue to improve the consumer experience through Housing Finance’s Property Point.

The Property Point was established as a one-stop point for property developers, estate agents, suppliers and buyers of housing and construction materials designed to make the process of property acquisition easier. The Property Point features displays from suppliers of property in Kenya, thus enabling customers to access a wide range of options under one roof. To simplify the whole process, Property Point has entered into strategic partnerships with suppliers of building and construction materials such as cement manufacturers, tiling, paint manufacturers, cabling, storage tanks etc to make all these services accessible under one roof. This concept is a first in the East African region.

One stop shops not only offer buyers the most attractive rates and the broadest menu of products; it's also good for the builder from a control standpoint, and as a new business opportunity. These bundles or packages enable home buyers and builders a chance to compare or shop the prices of these services in order to make educated decisions affecting the end result - a successful and cost effective closing.

One Stop Shopping does not imply that every service has to come from a single vendor, rather it affords the consumer the option to go to one place to get these services. There is no doubt about it; the consumer is gaining control of the home finding process. Consumers are beginning to look for ways to control the home buying and selling process and are looking for ways to simplify and bring predictability to the settlement process.
Consumers have already indicated a strong desire for simplifying the transaction by looking to one single source to obtain all of the services they need. The consumer demand for simplicity, transparency and value will continue to grow and bundling will be an increasingly important strategy for meeting these standards.

The writer is a specialist on property at Housing Finance. For more information contact

Housing Finance on 3262000 or email propertypoint@housing.co.ke or marketing@housing.co.ke  .

Websites: http://www.housing.co.ke/ ; http://www.propertypoint.co.ke/

How zoning laws can affect your property

Zoning is a system of land use regulation in various municipalities which in practice designates permitted and extent of uses of land based on mapped zones which separate one set of land uses from another. Zoning regulates building height i.e how many levels can be built, plot coverage and ratio and similar characteristics or some combination of these.

View of a plot in Kitengela

Local governments use zoning as a permitting system to prevent new development from harming existing residents or businesses and to preserve the quality of a community.


Zoning laws affect the value of your real estate property. there are three main zoning classifications: residential, Commercial, and Industrial.  Residential zoning applies to residences and multi family dwellings, commercial zoning usually applies to office blocks and businesses, and industrial zoning normally applies to manufacturing shops and plants.  Zoning laws vary from town to town, so make sure that you know the zoning restrictions on any real estate before you invest.


The purpose of zoning laws is to specify what types of dwellings or businesses may reside in a certain area.
Zoning laws may change, and a real estate investment that is zoned commercial or residential today may be rezoned for another use in the future.


If you invest in real estate for rental purposes, your tenants may cause zoning problems if they change the use of the rented facility. Tenants who convert their home may unknowingly violate zoning laws, so it is very important to have a clause in your lease agreement stating what can and can not be done on your rental premises.


Another way that zoning laws may affect your real estate investment is when zoning is changed from one class to another. If the zoning is changed from residential to another class such as commercial, this can mean a higher property value, which means more value for your investment.
Before buying a property, it is important to talk to an expert through housing Finance who will explain to you how municipal laws will affect your property.


The experts will let you know for example if in five years, your beautiful views will be replaced by a highway or a high rise development. Zoning regulations will indicate what may be legally constructed in the surrounding area.


A variety of ordinances will also affect the placement of your new home on the lot. Regulations will specify how close you can build to the property line, roads, rivers, and lakes.  Easements for electrical and telephone poles will limit the space you have for building your home.


Unless the property is in a development of suburban tract homes, there may not be easy access to electricity or public water lines. If there are no municipal sewers, you'll need to know where you may legally place your septic system.


Zoning may include regulation of the kinds of activities which will be acceptable on particular plot such as open space, residential, agricultural, commercial or industrial, the densities at which those activities can be performed from low-density housing to high-density buildings, the height of buildings, the amount of space structures may occupy.


It is very important for an investor to know the zoning requirements of any property before they invest. Find out from a Housing expert what these laws are and any proposed changes. This can save you a lot of money and aggravation.
Make sure that your lease agreement states what activities are allowed and not allowed on the rental premises. Find out what the other properties in the same area as the possible investments are zoned.


By being aware of the zoning laws and requirements you will avoid some costly and time consuming mistakes.


The writer is a specialist on property at Housing Finance. For more information contact


Housing Finance on 3262000 or email propertypoint@housing.co.ke .


Websites: www.housing.co.ke; http://www.propertypoint.co.ke/

Turning dreams into homes

For over forty years, Housing Finance has been “turning dreams into homes” for thousands of Kenyan families and housing developers. Mainly by providing easy access to mortgage finance and by enabling our clients to save money as they build, buy and own their homes.

Housing Finance was incorporated on 8th November 1965 as per the Banking Act, under the name the Housing Finance Company of Kenya. Our founding shareholders are the Commonwealth Development Corporation (CDC) and the Kenyan Government. In 1992, Housing Finance Company of Kenya offered part of its equity to the public and became a quoted company on the Nairobi Stock Exchange. Since then, shareholding of the company has changed partly through a share issue on 26th February 1999 when 30 million government shares were put on offer to the public and on 11th July 2007 when the CDC Group agreed to sell all its shares to Equity Bank Limited and British American Investments Company (Kenya) Limited (BAICL). The shareholding stood at 7.32% Government, 20.0% Equity Bank Ltd, 4.9% BAICL, 7.87% NSSF and 59.91% to the public.
The company then undertook a Rights Issue in June 2008 where the firm was seeking to raise Kshs. 2.3 Billion through issuance of an additional 115 million shares. The shareholding then changed to 3.7 % Government, 24.9 % Equity Bank Ltd, 17.25% BAICL, 6.83 % NSSF and 60.8 % to the public in which it currently stands.

The rights issue was declared a success with a 3% over-subscription. The money would be used to recapitalize the Company's Property Financing and Development business.

Perhaps however, the most significant change took place on 6th March 2002 when the company re-branded. Out of Housing Finance Company of Kenya was born the vibrant and aptly named Housing Finance. A company built on the strength of the old yet; clearly focused on availing new housing opportunities to homeowners, and meeting the growing housing challenges of today.

For example in our first year of operation of 1966, we provided a total of 34 loans of maximum Ksh. 100,000 each. Today, Housing Finance serves over 40,000 customers with deposits of Ksh. 8.4billion.

This is a new Housing Finance which is working towards being:
‘The premier financial enabler for the property industry in Kenya’