Real estate agents decry increased rates
07 October 2013, 17:01
Kisumu - Real estate agents and developers in Kisumu expressed disappointment at the move by government to increase rates in the sector.
The outcry follows the 100 percent rate increment on the sector by the County government following the passing of the 2013/2017 Bill.
Critics argued this would stifle development of projects in the sector.
“We kindly ask the county government to revert the rates because they would seriously affect development," stated the agents.
In the bill, the minimum charges for residential housing goes at KES 2 400 from the in initial KES 1 200 with the highest charge rising from KES 13, 000 to KES 36 000.
Only the certificate renewal rates retained its price while the occupational certificate fees also doubled in its price.
“This County had milestones in the development and thus increasing the rates would only burden prospective investors,” said Real Estates Director, Wycliffe Abok.
He further urged the county government to tear down bureaucracy and lower the rates to attract investors.
He called on the county government to develop and issue incentives to the investors.