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Banks, pension schemes top finance sector sources for real estate funding

Housing has been one of Kenya’s fastest growing sectors in the last decade, with returns from real estate outpacing equities and government securities. PHOTO | COURTESY

By  CONSTANT MUNDA

Correspondent

Bank loans and retirees’ savings remained the largest finance sector source of funds for property developers and homebuyers in 2017, fresh statistics show, amid declining average house sales and rent prices.

Commercial banks increased their investment in real estate by Sh87.56 billion last year, the highest allocation in a single year despite the September 2016 legal ceiling on loan charges.

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Note: The results are not exact but very close to the actual.

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