The sprouting of properties across the urban centers is partly due to stable interest rates, huge demand for housing estimated at over 150,000 units per year and new products in the market such as HFC's Makao which is targeted at those who want to construct their own home.

For individuals and investment groups, investing in real estate is a fantastic option as there is a strong rental culture in most urban areas where income has been on the rise.

For the individual, owning your own home, means you are converting what was previously an expense in the form of rent into equity.

Another benefit to home ownership is leveraging. A buyer can purchase a home with a cash down payment that is only a small fraction of the total purchase price, but the return is based on the total value of the property. This makes the rate of return on a home much greater than on an equivalent investment where the buyer must put up the entire purchase price.

In addition to being a good investment, owning a home provides unique income tax benefits. At the moment, mortgages are entitled to a relief of up to Kshs 150,000 per annum extended to owner-occupier home owners.

HFC has eased the process of owning that first home through the introduction of a savings account known as 1st HOP. The account benefits Kenyans who are over 18 years and who hope to buy their first home by depositing a maximum of Sh4000 per month (or Sh48, 000 per annum) up to a maximum of Sh3 million for a period not exceeding ten years - all of which is exempt from tax if used for the purpose of buying a home.

For those going into retirement it is important to retire debt-free. One of the best things that you can do is to enter retirement owning your property since for many people; mortgage or rent payment is the largest expense they have.

Finally Mortgage offers greater peace of mind as rent payments can be unpredictable and typically rise each year, but most mortgage payments do not change abruptly. A stable housing cost is especially important in times of inflation, when renters lose money and property owners make money.