Kenya government is set to crackdown on property owners to determine the source of their money...won't this burst the property bubble if pirate money and money laundering is weeded out?....woe unto those who bought inflated properties with their hard earned cash

That said Land is still cheaper in Kenya compared to the world average thats why the damn quatari, koreans and chinese are gobbling up our land for there food production!

This is a simple matter... why complicate it?

If you think property is over-priced... you sell or do NOT buy. Kwani, who is holding a bunduki to your head? [Unless you are a non-kale in RV... I am sorry but I fear the RV mpigs will start another PEV-like situation using mau as an excuse]

If you think property is fairly priced or 'cheap' then buy...

However VVS, the issue here is that the market is being distorted.. If you owned a house in South C and Mr Woria offered you 20M.. Ata kama you're not for distortion.. Utauza! This is the work of government, as we hope/assume they should be immune to greed. If only!

@ mwenza,

although this was not about beers if you ventured into the bars and night clubs in Eastleigh, ziwani, pangani, riruta, satellite, dandora umoja etc there were joints which used to be called class Z...this is where the beer was going for that amount, around 3.00....actually i took my first bottle of beer (tusker export) in eastleigh in 1988 at 3.20 while my collegue took his guiness at 4.50...

@Kai - days of price control... You could go to Hilton & pay a few extra kshs for a cold beer/soda in a 5* environment...

The difference between Hilton & hilton (kiosk) is krazy nowadays!

@the-sage:

But at some point folks can't AFFORD to be in those properties... Say you buy a 10mn flat. What rate of return do you expect?

methinks this bubble ought to burst, unfortunately, this is Kenya. Everyone BIG protects their own interests. Why do u now see a proliferation of warias in major committess in the country? They are lined up to protect these interests of their brothers. So, while logically a correction should be seen, I dont see it happening.

But remember what happened the areas of waiyaki way past uthiru - kinoo, kikuyu n such areas when the higway was being done? There was the usual mad dash as is being seen on thika road now - in the end, how much did the road really help? Why is property skyrocketing so much only in waria-infested zones compared to other areas? There needs to be control....Kenyans should afford property, many kenyans, not just kina VVS and some other wealthy individuals.

@sigiriri - I do not even own 1 inch square of land...

Good people,

I agree that the property prices are very steep in this country. The major cause of this is the failure of government to think differently! Do you guys realise that we are being governed by theories of the 1950s. ALL the fellows in positions to make decisions in this country were schooled in the 60s and 70's. They believe that the government must be housed in the most prime part of the country, that all decisions must be made by a few fellows sitting at the heart of the city, one's closeness to power must be physical and worst of all, developing the rural areas will make some MPs lose their seats ( keep them poor and be their saviour mentality). I believe that the government needs to move out of Nairobi, even to Isiolo so that that part will be developed too.Who says all PS's must seat at Nairobi? they can even work from home for all I know! Even private enterprise should follow suit. For example,why does the MD of a bank need to seat in Nairobi if his clientile is 75% from North Eastern?

Why do we think Nairobi is the only place we can be? Moving out of Nairobi is the only way to normalize real estate prices in the city. I am glad to see the young move and set up new towns like Kitengela! Very soon, that will be the only place you can get a house on a 1/8th in Nairobi, then we will all want to buy there and say the bubble needs to burst! It will only burst if we dare to think differently.