Over the weekend, I happended to bump into Housing Finance officials who have opened a shop in Kitengela.

I saw their current rates (mortgage loans). A shocker.

A 5M loan, you pay 97k monthly for 20 years. For 5M, one can only buy a house well outside Nairobi (unless an apartment). Likely, that house will fetch monthly rent of 20k.

I wondered whether these mortgage firms will get customers.

Good day.