Land transfer transactions hit a four-year peak in August 2020, defying the negative impact of the coronavirus pandemic on most sectors of the economy. Data from the Ministry of Lands and Physical Planning shows August recorded 654 transfers of the total 3,988 transfers recorded in the year. The transfers were 5.6 times those in March of 2020, which was a paltry 116, as the sector showed marked recovery from the pandemic. Read MoreSome analysts said the spike was brought about by backlogs earlier in the year, and investors increasingly valuing property. Land economist George King’oriah said the increased transactions showed that investors are increasingly valuing real property.

Source: Standard Digital February 24, 2021 21:00 UTC