I am looking to buy property in Kenya, is it good to buy property there.
In 2012, Nairobi and Mombasa were the only cities in the “southern hemisphere” to have reported double-digit property price increases, out of 71 cities surveyed in the Prime International Residential Index. The table shows property price growth in the top cities in the survey.
However, in 2019, Kenya’s housing market is cooling rapidly, amidst falling demand caused by constrained credit access, coupled with the continued oversupply of high-end residential developments.
During the year to Q3 2019, the Hass Composite Property Sales Index, a measure of asking sales prices of residential properties, fell by 3.4%, in sharp contrast to a y-o-y rise of 8.1% during the same period last year, based on a report released by HassConsult Limited. It was the second consecutive quarter of y-o-y price declines after falling by 3.2% in Q2 2019.
Hey, thankyou will keep this info in mind while planning, but after talking to some real estate developer there few of them were telling me, to buy because after Corona there will be sudden growth, so what to do now, how to decide further.