The economic outlook for this year looks positive with prospects of job growth and higher incomes as the country recovers from the economic downturn resulting from the Covid -19 pandemic. If you are looking for an opportunity to invest and diversify your income this year, it is time to consider pumping your money into the Real Estate Investment Trusts.
REITs (Real Estate Investment Trusts) were first established in 1960 by the United States Congress to give all investors, especially small ones access to income-producing real estate.
For the first time, REITs brought the benefits of commercial real estate investment to regular Americans – benefits that previously were available only through large financial intermediaries and to wealthy individuals.
Other countries followed suit, with Australia listing the first property trust in 1971. Canada waited until 1993 while the UK established REITs in 2007.
In Africa, the first country to establish REITs was Ghana in 1994. They have since gained traction globally and today, the market capitalisation stands at $1.7 trillion. Since 2013, seven countries that include Kenya, South Africa, Saudi Arabia, India, Vietnam, Bahrain and Ireland have established the property market.
Global statistics show that REITs have been able to outperform various asset classes consistently. As at December 2021, REITs performance was up by 29 per cent, and since the Covid-19 pandemic, the total returns globally have been in excess of 20 per cent.
In Kenya, there are currently 10 licensed REIT managers by the Capital Markets Authority (CMA). REITs are big landlords, and the rent collected is professionally managed and invested to meet operating expenses and the surplus is considered as net operating income from, which investors are paid dividends.
By owning units in Real estate investment trusts, you automatically become a landlord.
Your peace of mind is pegged around the fact that the properties are in the hands of expert fund managers who understand the real estate market. Simply put, REITs allow individuals to earn rental income without the stress of building real estate, and the attendant pain of maintaining the property and managing tenants.
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