Oversupply hits Kenya’s realty
Kenya’s property prices experienced a 3.1 percent decrease in the second quarter as a result of an oversupply, a report found. According to the Hass Property Index, more and more real estate came onto the market, leading to the oversupply, in response to high investment returns. “So the slight decrease in property prices is a form of price correction as the property market stabilizes,” the report added. Since the start of the year, property prices has fallen by 2.2 percent compared with 2016. However, since 2000 property values have increased by 4.24 times, while rents have increased by 3.7 times.