Over­sup­ply hits Kenya’s re­alty

China Daily (Hong Kong) - - BUSINESS -

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.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.