Tough times: Landlords, lenders in Kenya eyeing prime properties under auctioneer’s hammer

With the skyrocketing cost of living pushing Kenyans to dig deep into their pockets, landlords and lenders are seeking to recover their resources.

A spot check by Citizen Digital shows most of the properties set to be auctioned are as a result of court cases filed by landlords against their tenants while others are as a result of loan defaults.

In a series of adverts published in a local daily, some of the properties earmarked for auction are located in prime areas across the country in Nairobi, Mombasa, Kiambu, Machakos, Uasin Gishu, Kajiado, Kericho, Bomet, Busia and Muranga counties.

They include high-end multi-million mansions, high-rise apartments, commercial blocks, vacant plots, motor vehicles, household items, among others.

Some of them are: a four bedroom town house in Karen, a bungalow in Muthaiga, a four bedroom villa in Redhill, a three bedroom apartment in Lavington and a four bedroom townhouse in Muthaiga.

Apartments in Loresho, Kilimani, Kileleshwa, a double storey maisonette in Nairobi's South B Estate and a hotel in Thika, Kiambu County are also awaiting the final gong from the auctioneers.

In one of the cases, auctioneers in Bamburi, Mombasa County placed items such as plastic chairs, ladies tops and dresses, assorted shoes and a dressing mirror.

Motor vehicles bearing new number plates are also on the verge of getting new owners pending due vetting at various storage yards.

"Sale is on as-is-where-is basis and subject to a reserve price. Cash at fall of the hammer," one of the auctioneers said.

This comes as the country is unlikely to resolve the prevailing tough economic times within the short period the Kenya Kwanza government had projected when taking over power.

Prime Cabinet Secretary Musalia Mudavadi is on record urging Kenyans to fasten their belts in preparation to handle tough times ahead since the ruling administration may take about two and half years to revive the economy.