Market outlook: What Covid-19 means for real estate sector

Construction of Alma apartments in Ruaka, Nairobi. The real estate sector has taken a beating due to the virus epidemic. PHOTO | FILE | NATION MEDIA GROUP

What you need to know:

  • Money is barely trickling down to the average buyer; therefore, people are saving the little they have to survive; investing in property is the last thing on their mind.
  • The prices have continually skyrocketed while buyers hold on to their money, waiting for sellers to barge and drop the prices.

Kenya’s real estate market has always been a playground for risk takers, but now, more than ever, the market’s coffers are tucked away until the players meet on the other side of the coronavirus pandemic as the risks escalate.

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