Market News

Kiambu registers land agents to curb fraud

Land Governor Ferdinand Waititu. PHOTO | DENNIS ONSONGO | NMG
Land Governor Ferdinand Waititu. PHOTO | DENNIS ONSONGO | NMG 

Kiambu County is set to tighten regulation on property brokers weeks after it was reported as the only Nairobi neighbourhood to record a drop in quarter three prices of land.

The county said it will, in the next three months, register all brokers to mitigate against fraud it estimates at Sh3 billion annually.

The move targeting elimination of briefcase operatives comes after Hassconsult reported prices in the county—previously fast rising—had fallen particularly due to restriction on conversion of agricultural land to real estate.

Limuru sub-county was hardest hit with a 5.7 per cent fall.