Kenya: High Mortgage Upsetting Middle Income House Rents

PROHIBITIVE mortgage rates have pushed up house rents and sale prices for the middle income housing segment, according to the latest property index.

This is because potential buyers in this segment are choosing to rent the houses they would have bought but cannot afford because of the high mortgage rates. Few buyers who are able to buy the houses are getting fairer deals because developers have no choice due to the low demand.

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