KENYA: As Mortgage Rates Increase, Home Values Drop By The Most In Four Years.

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Due to an excess of housing and expensive bank loans, house prices fell by the largest margin in the three months ending.

The average housing price in the city decreased by 2.2 percent over the time, according to data from realtor HassConsult. This is the first decrease since June 2020, during the height of the Covid-19 economic crisis.

Sectors including lodging and dining, other services, and real estate all experienced a general decline in momentum, which was hampered in part by the uncertainties surrounding the general elections on August 9.

The city’s rent decreased for the second straight quarter in the three months leading up to December, according to HassConsult statistics.

Business Daily

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