In Summary
  • Activity slows despite recent heavy investments in property infrastructure
  • Only a few people are enquiring about availability of property to buy
  • Even property located in “peaceful” regions such as Kiambu, Murang’a and Nyeri had been affected by the slump.

Real estate players have reported a sharp drop in sale of land and developed properties that has delayed return on investments for the industry.

Letas Developers managing director Patrick Muchoki said only a few people are enquiring about availability of property to buy unlike the first half of the year when they enjoyed a healthy flow of clients.

Mr Muchoki said even property located in “peaceful” regions such as Kiambu, Murang’a and Nyeri had been affected by the slump.

“People have adopted a wait-and-see attitude with many opting to remain indoors either at work or at home as they are unsure what’s next.

"Unless the political stalemate is addressed, we shall continue facing a downturn,” he said.

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