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Why developers are not worried about housing oversupply

NHC houses in Nairobi West National Housing Corporation houses in Nairobi West. (PHOTO: WILBERFORCE OKWIRI/ STANDARD)

Josiah Owuor has lived for one-year-and-a-half in a rental apartment in Kilimani, Nairobi. During that period, he has seen dozens of fellow renters move out of the building to yet another house in the neighbourhood. According to Owuor, the marked increase in the number of apartments in that neighbourhood has given many people a choice even to the point of negotiating reasonable rental charges.

“I have seen many of my former neighbours move out to houses in the same locality,” he says. “The turnover of tenants here is quite high.”

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