Nairobi Backer 001 | Page 21

Continue from page 20 Another key area that can shape the housing sector in Nairobi is the Interest rates which are expected to reduce, as pressure is put on the Central Bank and other banks. The mortgage rates in Kenya are too expensive driving out low and middle income earners out of the market. For investors who would like to buy a property and rent it, the best return the market will give is between 6 to 8 per cent. So if you are paying your mortgage at an interest of 18%, then there is nothing you’re doing but expect loss. We still hope that the new government will support the recently i