The thing is for me the property issue is an indictation that the ecomony is on a serious slide towards a crash. Either there is too much stolen money in circulation and when this stops a lot of genuine people are going to loose money or there is even a bigger financial problem brewing. Take the example of Mkesho, this a something that KRA should have gone into and queried the source of funds. Being selective as the govt organs are, they are creating more problems for the future. Central Bank is a mere bystander and cheering on the financial mis-management of kenya letting the economy slide to worse in the next few years.

There is absolutely no sense whatsover in the property boom bceause we are still unable to say what are the sources of the money? You can sell expensive if the the market will buy it. And the market for expensive buyers is booming. Totally defeats any logic!

On Mon, Nov 29, 2010 at 3:24 PM, Evans Ikua <ikua.evans@gmail.com> wrote:

Fine, lets all head to Cape Town! I thought cape Town is where the rich in SA live? I think Jo Burg also has cheaper property compared to Nairobi.
But its very true that property prices in Nairobi are bloated. A friend who lives in London tells me that prices here are comparable to London to some extent! Doesnt make sense at all.