Appraisal of the regulatory framework governing property actors in the housing sector: a case study of Nairobi City County
Date
2024
Authors
Mwaura, H. N.
Journal Title
Journal ISSN
Volume Title
Publisher
Strathmore University
Abstract
Housing is a basic need crucial for human life. Article 43(1) (b) of the Constitution of Kenya states that every person has a right to accessible and adequate housing and reasonable sanitation standards. The study's main objective will be to appraise the regulatory policy framework for actors in the property sector in the housing sector: A Case of Nairobi City County. Due to the contribution, the housing sector plays in the economy it is imperative to have the housing industry perform optimally. The sector has complaints regarding loss of investments by consumers, lack of fulfillment of obligations by developers, and disputes in courts, which highlight policy gaps in the industry. The study would therefore help in developing an understanding of factors to ensure that consumers’ ownership is safe and their investment guaranteed in schemes involving developers in property transactions. The study is guided by the following specific objectives: assess implementation of the regulatory policy framework-governing actors in the property sector; identify gaps in the current regulatory framework; provide recommendations to enhance efficiency in the sector. Descriptive correlational research design was used for this study and the sample size for the study was 131. Data analysis was carried out by use of simple mean comparisons, percentages, standard deviations, Chi-Square test and correlation. This was done using the Statistical Package for Social Sciences (SPSS) Version 28. Based on the analysis, the study concluded that there is a weak and ineffective implementation of the regulatory framework, which has contributed to lack of consumer protection leading to loss of investments amongst the customers, investors and stakeholders. This is due to the prevalent reported number of cases involving of fraud and unethical practices within the industry. Further, challenges relating in clients obtaining proprietary documents such as title deeds, lack of respect for the rights of property owners, and distorted market prices for properties. The study therefore recommends the need to improve the enforcement of regulatory framework that governs the property actors in the housings sector in order to improve the performance.
Description
Full - text thesis
Keywords
Citation
Mwaura, H. N. (2024). Appraisal of the regulatory framework governing property actors in the housing sector: A case study of Nairobi City County [Strathmore University]. http://hdl.handle.net/11071/15524