Save for the recent entrance of rental income taxation, the increase in rent within Nairobi is as well being attributed to the increasing unavailability of upper middle income and top-end rental houses. “We now foresee continuing rises in rents which may take years to return to stability” Hass Consult’s project development officer, Farhana Hassanali Hashmani, said. Landlords are also anticipating gains towards this development.
The situation is also similar to low income housing in the city where the high demand surpasses the supply. This as well has been a cause for landlords to take advantage of the situation thus the increment in rental fees that has already been felt in some areas within the city.
This development is also being gauged to attract new investors and property buyers into the residential property market, particularly for letting purposes.