High taxation, multiple land laws curb growth of real estate investment trusts
The real estate market is sensitive to taxation. PHOTO | FILE
Kenya has listed only one real estate firm on the Nairobi Securities Exchange in the past nine years.
The Capital Markets Authority (CMA) says real estate investment trusts (Reits) are facing punitive taxes, cumbersome and multiple land laws, restrictive regulatory regime in terms of compliance costs and high listing prices. Other negative factors include waning investor confidence in the stock market.
