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How speculation and illegal money have heated up property prices

Land for sale sign [Courtesy]

When the first excavator chugged into Kenol town in Murang’a County to start the upgrading of the Kenol-Marwa highway into a dual carriageway, land speculators dusted their calculators and punched in all the numbers they could think of.

An acre of land that was going for well under Sh20 million was advertised for sale at Sh40 million, an instant 100 per cent increase in price. For sellers, manna was about to fall from heaven.

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