In Summary
  • Kiambu County said it will, in the next three months, register all brokers to mitigate against fraud it estimates at Sh3 billion annually.
  • Governor Ferdinand Waititu said this will make it possible for the devolved unit to rein in rogue dealers whose only agenda is fraud.

Kiambu County is set to tighten regulation on property brokers weeks after it was reported as the only Nairobi neighbourhood to record a drop in quarter three prices of land.

The county said it will, in the next three months, register all brokers to mitigate against fraud it estimates at Sh3 billion annually.

The move targeting elimination of briefcase operatives comes after Hassconsult reported prices in the county—previously fast rising—had fallen particularly due to restriction on conversion of agricultural land to real estate.

Limuru sub-county was hardest hit with a 5.7 per cent fall.

Governor Ferdinand Waititu said this will make it possible for the devolved unit to rein in rogue dealers whose only agenda is fraud.

“We are going to register all of them. We want to be aware of your office, the deals you are in, whether those properties you are offering in the market are genuine. We will assume the role of final authority on their authenticity,” he said.

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