Inflated land prices begin to haunt sellers in Nairobi, Machakos

High land prices are forcing dealers in Nairobi and surrounding areas to cut down on their acquisitions as most people cannot afford the inflated prices. Brian Mwandawiro of Amani Real Estate Agents Kenya, for instance, says they slashed new acquisition of land by 35 per cent to 40 per cent because of low demand. “Some industry players have been inflating land prices, thus scaring away potential buyers,” said Mwandawiro.