The real estate sector is one of the struggling sectors for more than a year since the advent of the COVID-19 pandemic.
Data from the Central Bank of Kenya (CBK) shows mortgage default went up by 48 percent in the first quarter of this year, a clear indication of the impact of the virus on investment in the housing sector in the country.
On property acquisition, purchase of properties in the country’s high-end areas dropped while there’s an improved performance in the mid and neutral performance for the low-end areas.
According to experts, the whole industry is expected to rebound especially after the forthcoming presidential elections.
