Property developers in Kenya have turned to promotions to lure consumers to buy houses as competition deepens in the East African nation’s real estate sector.
The developers are adopting marketing tactics associated with manufactured goods to beat off competition, attract consumers’ attention and make them buy their products.
Potential homebuyers are being promised vouchers worth certain amounts of money, discounts and gift hampers, among other rewards, for every purchase.
The new mode of marketing is spreading fast in the East African nation’s 3.6 billion U.S. dollars real estate sector as many developers adopt it.
As the promotions pick up and competition stiffens, Kenyans perhaps may soon be treated to offers like’ buy a house, get a servant quarters free’, an equivalent of the popular ‘buy one, get one free’ marketing gimmick.
One of the property developers who is banking on a promotion to sell houses is Greenspan Housing real estate firm. The developer is selling apartments and maisonettes located in Savannah area on the east of the capital, Nairobi.
The three bedroom houses, which are still under construction, are being sold at 122,023 dollars.
Home buyers are being told that the houses have servant quarters, individual gates and courtyards, electric fences, onsite borehole, solar panels, nursery, gym and swimming pool.
However, all these facilities, which many people look out for while shopping for houses to buy, seem not to be enough to attract potential buyers. The developer is giving homebuyers free vouchers worth 5,952 dollars.
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