So, how do we go about regulating the real estate industry?

Contributor

Nation Media Group

The desire to own some form of real estate is, arguably, significantly higher in Kenya than in many other economies across the globe.

Part of the proof lies in the ever-growing number of property firms being registered in the country every other day.

“We know of people who have been reported time and time again but nothing seems to be happening to them. Some developers have set up companies, delivered nothing, then gone on again to set up new companies with the same intent of swindling people of their money, and they are still out there running scot-free. As long as mischievous dealers are allowed to continue operating, then it sends the wrong signal and also gives the industry a bad image,” notes Luusa, adding that there is a need for stakeholders to come together and collectively condemn the few developers who have failed, ignored or neglected to follow established construction guidelines and to co-operate with regulatory agencies, therefore endangering the lives of others and in the process, besmirching the reputation of other responsible developers.

So, how do we go about regulating the real estate industry?

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