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Housing

Costs of homes likely to go down as interest rates by commercial banks fall

By TF News

Prices of houses could drop as the government reduces borrowing from the local money market after a successful euro-bond last month that raised billions of shillings, says Hass Consult.Hass Consult head of marketing Ms Sakina Hassanali predicts a fall in prices of houses as government reduce domestic borrowingHass Consult head of marketing Ms Sakina Hassanali predicts a fall in prices of houses as government reduce domestic borrowing

The real estate consulting firm that unveiled the Hass property price indices for the second quarter Wednesday says interest rates charged by commercial banks are likely to fall as government reduce domestic borrowing.

Commercial banks maintain high rates for mortgage despite pleas from government

By Joseph Mwangi

Commercial banks have maintained high borrowing rates for mortgage despite the negative impact on the housing market, says The Mortgage Company and Hass Consult.DP William Ruto has asked banks to reduce interest rates to spur economic growthDP William Ruto has asked banks to reduce interest rates to spur economic growth

The first quarter of 2014 mortgage report unveiled Thursday, the two echoed views and sentiments expressed by Deputy President William Ruto who has now called for the banks to lower interest rates across board.

Prices for houses improves but mortgage market remained sluggish

By Ben Kinyanjui

 

Prices and rents for houses in Nairobi recorded a hike in the first quarter of this year but mortgages market remained subdued.Ms Sakina Hassanali, head of marketing for Hass Consult says prices have improved .Ms Sakina Hassanali, head of marketing for Hass Consult says prices have improved .

According to Hass consult property sales volumes also picked up from January and February but remained strongest in March.

Developers warn of severe shortage of houses to cater for enlarging middle class.

By Ben Kinyanjui

The Kenya Property Developers Association (KPDA) has warned of a severe shortage of houses to cater for the growing middle class especially in major urban centres.Shortage of housing in Nairobi looms large Shortage of housing in Nairobi looms large

The association that together with HassConsult has launched Kenya's first ever annual report on the state of development in Nairobi says housing shortage in Nairobi is acute and deteriorating.

Prices for residential houses fall but rent increases

By Ben Kinyanjui

 

Asking prices for residential property sales fell in the fourth quarter of last year though demand for houses to rent remained high.HassConsult marketing manager Ms Sakina Hassanali says high interests hurting the sector HassConsult marketing manager Ms Sakina Hassanali says high interests hurting the sector

 

According to HassConsult , a real estate consulting firm, asking prices fell by an average 1.3 per cent for detached houses and apartments but those for semi-detached houses continued to rise, albeit by a marginal 0.6 per cent.

Expensive mortgages continue to dampen growth in real estate sector

 

By Ben Kinyanjui


Manny people cannot afford to buy homes because mortgages have remained very expensive, says The Mortgage Company.Ms Carol Kariuki says mortgates are very expensiveMs Carol Kariuki says mortgates are very expensive

The company says in its third quarter 2013 unless the rates fall to a single digit, many prospective home buyers will keep away.

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