High Rent Sparks Wrath of Kisumu Real Estates Residents
Following the passed Finance Bill by the county assembly of Kisumu County and the general escalating prices of land within Kisumu environs, a good number of Kisumu residents have raised concerned over the whole issue. Kisumu real estates industry have been dwindling for quite a long time, where a two bedroom house in areas like Manyatta, Migosi, Nyawita, Kondele, Mamboleo use to be in a range of Kshs.5,000-Kshs.8000 at most.
Now you cannot manage to get the same size of houses in the mentioned areas at the same rent rating, rent has been shooting up in these precincts year after year. Presently the rent in these specific areas has double and almost tripling.
Not even the County houses in the region have been left out since many residents of county houses has recently protested that the county taxes are extreme hence forcing them to fork out more than 100 percent increment of the initial rent. This adjustment has made the resident to criticize the County assembly for approving the Financial Bill.
The residents of Kisumu County condemned the member of County assembly for also hiking the construction fee by 100 plus percent. They fear that they will have to dig deep into their pockets as landlords will probably take advantage of the situation and increase rent.
The residents cried foul that with the escalated cost of construction, the private developers will definitely increase rent which will later affect them directly.
This strategy by the county of Kisumu will generate more revenue to the county whereas it may also scare away some of the developers and private investors; however some residents proposed that the Financial Bill needs to be amended.
County houses like Arina, Ondiek, Makasembo, Kibuye and Argwings Kodhek estates we’re expected to be increased per bill hence they also proposed an amendment to that effect.
A ward representative in Nyalenda B said that there should be no fuss over the Financial Bill since those living in county house pay as little as nothing yet again the county needs to generate revenues. He also said that the move to pass the bill is highly welcome since it will generate money to the county and a boost since the National government is providing very little cash to the counties.
A two bedroom house rent used to be kshs.2, 000 in Arina, Makasembo and Ondiek estate has increased to Kshs.4, 000, and a three bedroom house at Argwings Kodhek increased from Kshs.4, 000 to Kshs.10, 000.
The member of the county assembly realized that it is very unfair for occupants in the county houses to pay less yet they sublet houses and charge exorbitant rates.
Private investor, developers and Kisumu real estates fraternity have asked the County Government to reverse the rates slightly as they are poised to affect development of the County in terms of construction.
These high rates of construction will definitely lead to high cost of houses both bought and rental, given that many developers are aiming to make a lot of profit, some investor may shy away due to high cost of construction in Kisumu County. For more on Kisumu real estates, visit www.westkenyarealestate.com