As property prices come tumbling…. great discounts are here with us
Forget what you heard—property prices in Nairobi and its environs are at a standstill or falling. It all depends on who you ask. There is no other politically correct way to say it—the bubble burst or the market correction (again depending on who you ask) is spreading. The feedback from two key players in the sector—the property indices and the real estate agents paint a gloomy picture: no one is buying, and in some neighborhoods, no one is renting. The effects of a housing demand-supply mismatch is here in full throttle. I will not bore you with figures. Property Indices In the past year, three of the widely published property indices—that Kenya relies on to gauge buying and selling temperatures, though hugely inadequate-- have consistently reported a below normal cooling off in the real estate. Check the latest figures from Hass Property Index, Kenya Bankers Property Index or the Knight Frank Index, The indices—if they are anything to go by--indicate that in t...
