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House prices drop as oversupply hits market

Investors in several neighbourhoods in Nairobi are reeling from a slump in home prices and rent as excess supply bites.

Selling prices in Kilimani have dropped more than 5 per cent since last June to lead in the slump that has also been witnessed in Donholm, Eastleigh and Ridgeways, according to findings presented by real estate consultancy HassConsult.

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