The paradox of high property prices in the world’s most unliveable city
What you need to know:
- The lack of oversight has enabled corrupt government officials in countries such as Russia and Nigeria to launder their stolen money in England.
- Almost everyone I know in Nairobi has been robbed or mugged or knows someone who has been robbed or mugged in the past year.
- The invasive body searches that are becoming routine at shopping malls, hotels, office buildings, and other public places make Nairobi feel like a city under siege.
- The land grabbing frenzy has also eliminated greenery and playgrounds from the landscape, turning leafy neighbourhoods into grey urban jungles.
I recently read an article that explained how dirty money has been driving up property prices in London.
According to the article, criminals and foreign officials are setting up fake off-shore companies to purchase property worth millions of pounds in the British capital’s most coveted neighbourhoods.
The buying of property for the purpose of money laundering is facilitated by real estate agencies that do not ask buyers how they finance the purchase. The lack of oversight has enabled corrupt government officials in countries such as Russia and Nigeria to launder their stolen money in England.
Rumour has it that the skyrocketing property prices in Nairobi are also being fuelled by dirty money. A friend who knows a thing or two about real estate is convinced that the sudden and dramatic rise in property prices in the capital city are being driven by money stolen from strife-torn neighbouring countries such as South Sudan and by corrupt local officials.
Hence, we have the bizarre situation where property prices in Nairobi, the capital of one of the poorest countries on the planet, are comparable to those in London, one of the world’s financial capitals.
LITTLE IN COMMON
Yet London and Nairobi have very little else in common. London is among the safest cities in the world and has some of the best infrastructure.
Nairobi is one of the most insecure cities in the world and its infrastructure leaves a lot to be desired. So why are property prices hitting the roof in the latter?
I was born in Nairobi but have always had a love-hate relationship with the city. When I am away from the city, I yearn to go back. When I go back, I long to leave.
Lately, my yearning for Nairobi has been waning due to a variety of factors. Top on my list are crime and insecurity. Almost everyone I know in Nairobi has been robbed or mugged or knows someone who has been robbed or mugged in the past year.
Some of these robberies are brazenly being carried out in the middle of the day by men and women with guns. They can occur anywhere — in your home, on the street, even when you are driving.
Many people who are robbed do not report it to the police as they do not see the point of it, or because they could not be bothered to pay kitu kidogo to record a statement.
BODY SEARCHES
Terrorism-related insecurity has further dampened the Nairobi experience. The invasive body searches that are becoming routine at shopping malls, hotels, office buildings, and other public places make Nairobi feel like a city under siege.
These kinds of security measures are virtually unheard of in other cities because they use other more sophisticated means to monitor terrorists.
Even Nairobi’s newly installed CCTV cameras are apparently “blind” — corruption and mismanagement have ensured that even our surveillance technology remains dysfunctional.
Second on my list is traffic. It seems the more roads Nairobi builds, the worse the traffic becomes. The typical worker in Nairobi is now spending up to four hours in traffic, hours that could have been spent doing productive work or being with loved ones at home.
Because of lack of any meaningful vehicle inspection, people stuck in traffic are forced to inhale fumes and carbon monoxide at levels that make a mockery of Nairobi’s no-smoking policy. Lack of a safe, affordable, and environmentally friendly public transport system has ensured that even those who would prefer not to drive are forced to.
LACK OF WALKABILITY
Third is what I term Nairobi’s lack of walkability. The best cities in the world, in my view, are those that are walkable.
Manhattan’s super-wide sidewalks and the bridges over the River Seine in Paris encourage walking. Nairobi worships the private car. Only the poor walk in Nairobi, which is such a shame, because walking is healthier than driving.
Even going for a leisurely walk is impossible as most roads do not have pavements. The land grabbing frenzy has also eliminated greenery and playgrounds from the landscape, turning leafy neighbourhoods into grey urban jungles.
Soon Nairobi will be one of the most unliveable cities in the world. Pity about the property prices.
