Push for new housing law

AN affordable housing law has been fronted by real estate sector players as the key to unlocking the industry’s potential and fulfilling one of President Uhuru Kenyatta’s big four agenda. This, they argue, will significantly reduce the cost of housing and also free up capital for developers to put up even more units. While the government has put in place policies that offer incentives to developers, financiers, and buyers, it is claimed that these benefits have not fully trickled down to the expected beneficiaries. And if one seeks to benefit from these incentives, which include tax relief for mortgage borrowers and reduced corporate tax income for developers, they have to camp in several government offices. — The Standard.