This ain’t true. CS Kaimenyi just the other day had a press conference saying all urban centres in Kenya combined supply only 50,000 housing units annually.
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Those are the official figures of those landlords who have registered their properties with KRA. How many still haven’t? Let await next year report after KRA complies the new landlords who took up the tax amnesty. Even after that remember alot who remain outside the system.
A bubble would be inevitable if our RE was mostly mortgage-financed. But as it is…
I think the point to drive home should be, diversify your portfolio. I know of an older gent with grown up kids abroad. Interest rates there are below 5% for a mortgage. That’s the route he took…he has an apartment block and a house. Plus he’s got other things going here in Kenya. Ako set if that bubble ever bursts.