Property Slump Ahead?

October 2008 | Ratings Update

We are increasingly concerned about Kenyan real estate. The combination of tighter mortgage terms and waning remittances augurs for a fall-off in demand over the coming months. Remittances from abroad declined by 37.8% y-o-y to US$36.6mn in August. The suburbs of Nairobi look most vulnerable, alongside build-to-sell bungalows in Mombasa

If you would like to subscribe to East and Central Africa Monitor and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to East and Central Africa Monitor please click on the trial link below.