What are the implications of this growing habit of hoarding and buying land for speculation? Amina, NairobiA section of Nairobians have perfected the art of hoarding and speculation as the demand of land grows by the day. Speculation has turned several Nairobians into overnight millionaires and billionaires as the Government and private developers scramble for the commodity to invest in affordable housing projects. There have been several unsuccessful attempts by the Government in recent years to discourage speculation and hoarding of land. The affordable housing dream will remain a nightmare as private developers struggle to overcome insurmountable hurdles like the exorbitant cost of land, low access to mortgages as well as high financing and construction costs.

Source: Standard Digital February 26, 2021 09:51 UTC