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Report: Kenya safe from likely housing market crash

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Gichugu Affordable Housing Programme, in Kirinyaga County which civil works were completed in May but Kenya Power expected to connect it with electricity to allow occupation. [Boniface Gikandi/Standard]

Kenya's property market is safe from a possible housing bubble due to the cash-based nature of transactions in the real estate sector, where just two per cent of units are bought through mortgage.

A housing bubble is a run-up in home prices fueled by demand, speculation, and exuberance that bursts when demand falls as supply increases.

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