Report Gives Dim View on Housing Sector.

Byline: Winsley Masese

Prices for properties in areas outlying Nairobi are not expected to get any better, Hass Consult has said, sounding a warning to developers to be careful when deciding to invest in apartments and maisonettes in the areas.

While announcing its 1st quarter report for 2011, the firm said there is a closing gap in prices between houses outside the city and similar city housing, a situation likely to see buyers prefer to stay within the city.

Property development director, Ms Farhana Hassanali, said the risk is brought on by high land prices, which might add to the problem of high vacancies and unsold apartments in the inner city, by …