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First-Time Homebuyers Find Affordable Units in Kenya

A 2011 World Bank survey found that only about one-tenth of Kenya's population earned enough to support a mortgage. However, that situation may be changing, with more affordable apartment units on the outskirts of Nairobi selling out even before the start of construction. Anthony Wamburu, a 35-year-old technology enthusiast, is in the market for his first property. Wamburu has been saving for a while now, and has his eye on an apartment — valued at $50,000 — in Kenya's capital,...

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