AU representative Hon Raila Odinga has addressed the high cost of acquiring land in Kenya.
Acquisition and ownership of land in Kenya has always been an emotive subject and a lucrative symbol of wealth. From time in memorial, it is known that the best inheritance you could leave for your children is huge tracts of land.
Whether you are buying for agricultural, development or speculative purposes, one is assured of a healthy return on their investment when it comes to land.
The Kenyan real estate market has however been destabilized by some industry players who inflate land prices so that they can overcharge buyers.
This is especially so after the former president, Mwai Kibaki, embarked on massive infrastructure development initiatives to ease traffic congestion in Kenya.
Smart brokers have since been using ‘fear of missing out’ as bait to dupe Kenyans who hate being left behind by the ‘wave’.
The price bubble is further fueled by the huge number of speculators who acquire land with the aim of selling later at a much higher profit. Oh well, just as the quail business, you will find most Kenyans rushing to buy in an area just because everyone else is ‘running’ in the same direction without conducting due diligence.
Hon Raila Odinga has outcried that the High cost of acquiring land is scaring away investors in the country.
Raila spoke while attending the groundbreaking ceremony for Unity Homes at Tatu City. The Former Premier capitalized on that opportunity to ask Kenyans to embrace the idea of Special Economic Zones.
Attended the groundbreaking ceremony for Unity Homes at Tatu City and took the opportunity to ask Kenyans to embrace the idea of Special Economic Zones. I also appealed for measures to address the high cost of land which is scaring away potential investors from our country. pic.twitter.com/SHwbnKNlkk
— Raila Odinga (@RailaOdinga) May 31, 2019
Earlier on Hon RAILA Odinga was received by Wiper Leader Kalonzo Musyoka after finishing his Addis Ababa tour.
Arrived at JKIA and held consultations with @skmusyoka and also met with Stephen Jennings the CEO of @rendeavour which is the group behind the development of Tatu City. pic.twitter.com/ztY2WYrH7j
— Raila Odinga (@RailaOdinga) May 31, 2019