Developers in Kenya lack incentives for low-cost houses

NAIROBI: Kenya’s economy is currently growing at more than five per cent annually, with experts predicting this could increase to 10 per cent in the next few years.

This means more Kenyans will be able to buy their own homes, thus creating demand for housing and business opportunities for developers. The real estate business in Kenya is still immature. Unlike the tea, tourism or horticulture industries, where decades of experience have led to efficient work practices due to high levels of expertise and strong management, the real estate business is still finding its feet.