Hass Consult is set to announce residential price trends and release mortgage report in Kenya in its second quarter results that will be announced on Wednesday, 11th July 2012. Through a media invite sent to media houses, Hass Consult stated that it will be reporting on the acute acceleration in the rise in rental prices. Keep it here for a conclusive report of the Hass Property Index-Second Quarter Results.
Their first quarter report showed 38 per cent of new housing units on the market in 2011 were owned by mortgaged buyers as compared to 34 per cent in 2010. The report further revealed that a buyer of a mortgage townhouse in 2002 would in 2011 have a house worth substantially more than the buying price plus all mortgage repayments, at any interest rate from 5 to 20 per cent. The mortgage market also increased from 7600 homes in 2006 to 20,000 homes in 2012. The report though noted that the hike in interest rates had slowed mortgage uptake.
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