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Local developers continue to take a hit as their earnings took a dip during the first half of 2019. Two realtor reports released in the last one week cast a dark shadow over an industry that was promising in previous years.
According to Knight Frank’s Kenya Market Update First Half 2019 report, prime residential prices fell by 1.8 per cent, leading to an annual decline of 6.7 per cent in the year to June. This was a sharp contrast to the 0.4 per cent decline recorded in the first half of 2018.
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