Infrastructure Development and Real Estate Values in Meru County, Kenya

Abstract

The real estate industry has increasingly become a key pillar industry in Kenya. However, in recent years the real estate prices have risen rapidly with home prices increasing sharply in comparison to prices of goods and services in other industries. At the same time, housing demand has posed an economic and social challenge arousing continental and universal concerns. The main objective of this paper was to analyse the effects of infrastructure development on real estate values in Meru County, Kenya. The findings indicate that the factors that lead to high prices in the real estate sector include improved transport networks, improved social amenities, industries, expanded educational institutions and commercial centers.

Key words: Real Estate Values, Infrastructure Development, Property