bwenyeye, I believe 3-5M is too high to be termed lower market

@ youcant I think what @ bwenyenye is saying is true. With 3-5M you can only get a morgage for an appartment or a semi-detached unit in Embakasi unless you do the construction uaself.

BTW I read sometimes last year the Equity was partnering with a Chinese Property Dvt Co to put up low cost appartments that will target low end market at about 2M per unit. This was to be achieved by maximising on land whereby they will go up 20 floors.

Greetings to you @guru267, the financial sector is of special mention, as a cautionary measure to preserve long term investors capital sequel to the recent global financial sector crisis that first emanated from US financial institutions and spread spirally to Eurrope and the whole world.

A new policy guideline from the regulatory authorities in my country Nigeria has been put in place to preserve retirees funds,it stipulates that pension fund administrators are not permited to invest more than 20% of their income on Stock market, and not more than 5% on Financial stocks.

Previously, they were not allowed to invest in Real Estate, but the new policy allows up to 20% investment in Real estate, notably a mixture of commercial and residential property development.

The reality is everyone is greedy & that whatever is on a policy paper is not what the market shows or investors want. Wall street brought the recession but the funniest thing is new millionaires come out these firms like everyday and maths geniuses are employed by these guys to crunch numbers on new investments. Remember you'll always need financial institutions and what happens within only the insiders know, make money while its being made but know when to get out.

@young it is very obvious that American, European and even Nigerian central were very lax with policy that left all their commercial banks seriously exposed...

That said i'm in love with the Kenyan central banks policy towards commercial banks and that is why every single one of kenya's listed commercial banks posted not just profits but profit growth all through the world recession which boosted my confidence in them even further...