Demand for Housing in Kenya Remains Flat in Q3

By Njiraini Muchira

The housing market in Kenya is experiencing a significant oversupply that has resulted in flat prices during the third quarter of this year.

Even as the government puts in place mechanisms to supply over 500,000 units of affordable housing over the next four years as part of its Big 4 Agenda, developers targeting the middle and high-end market segments have seen subdued demand.

According to the Kenya Bankers Association (KBA) House Price Index, prices declined in the third quarter of 2018 by 0.41 per cent mainly due to lack of enthusiasm from home buyers, whose preferences have shifted from apartm