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Kenya: Developers facing foreclosure on unsold property

Posted on 26 January 2012

The boom in Kenya’s real estate a few years ago made property developers plunge in without considering market fundamentals such as the fact that property cannot easily be liquidated. Therefore, some investors are now stuck with property for which they are still repaying loans.
The speculative wave that has been evident in the real estate market is dying away, as market fundamentals become realistic. Developers are now finding themselves with property they cannot sell and are facing foreclosures as banks seek to recover unpaid loans………………………………………..Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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