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Banks jittery over depressed demand for detached, commercial units

Depressed demand for detached and semi-detached units has made banks wary of lending to the real estate sector. This is after a new report showed reduced construction in the one year ended April 2024.

The Kenya Financial Sector Stability Report 2023 by the Central Bank of Kenya (CBK) lists real estate as one of the sectors behind credit growth in 2023, where demand in the private sector recorded an annual growth...