Most guys pay deposit then follow up with mortgages. However, mortgage approval takes time and this is why many new estates take up to an year to get occupied. the owners are still following up with their financiers to get mortgages.

Real Estate is an area of my future intrest. I will invest here. That said,am happy to hear a stagnation or burst whichever. Actually I will be VEEEERRRRYYY HAPPY to hear a lot of office spaces and rentals from singles to 3b/rm. This will mean "we" nikiwa landlord we lower or maintain prices... With defaulters,banks will have to lower intrest rates for defaulters...consequently...lower morgatge rates....What is ailing us is the GREEED! The salary strikes we are experiencing in kenya is as a result of "keter" reasonig. Instead of asking for pay increase we should strive for high production of goods and services so that prices go down thus we all can afford at our salaries. Each kenyan hufikiria akiongezwa mshahara...ya wengine itabaki hivo ndio awe tajiri kuwashinda. I advocate for flooding of goods and services Manyumba leading so as to stabilize. This craze of ours explains why our colonial time peers are doing well.

Mortgages in Kenya are simply unaffordable. The number of mortgages currently stand at 30,000. If you want a studio apartment worth 4.5m you will have to be paying KES 60,000 for a mortgage priced at 15% per annum for the next 20 yrs. Assuming a debt income ratio of 50% for conservative banks you need to be earning at least KES 120,000 net per month and without any other debt, hata HELB. Now, tell me how many people are earning such amounts in NBI leave alone Kenya. Developers will always have that billboard shouting 90% sold to hoodwink you into thinking you have to hurry and pay for a unit. I have seen such a banner for close to one yr on some houses along Waiyaki way and keep wondering, shouldn't they be sold out by now? I have seen landlords get rude when they finish new units only to lower the rent and start calling the same potential tenents they were rude to. The mortgages only take up 6% of total loan portfolio in the banking industry in Kenya so I don't think banks will lower interest rates soon; after all they are still making insane profits without those mortgages. The bottom of the pyramid is where the juice is...that is why you still see people living in houses which are at risk of collapsing.

Such are fellows i was talking of
www.standardmedia.co.ke/...our-economy&pageNo=2 ati every year salary and infaltion should increase.

@BorisBoyka you're right. This is a load of crap from Economics point of view. If you increase salaries when inflation increases you'll create more inflation coz people will have more to spend hence needing another salary increase to keep pace with inflation so it's a zero sum game.If the basic goods can be produced n retailed lower prices (either via efficiencies in production or some subsidies of some sort) that can enable more Kenyans live comfortably with their current salaries without needing year on year increases.