Affordable housing beneficiaries will face challenges when trying to sell their units due to strict government regulations.
The regulations, currently in the process of public participation, state that anyone who wants to sell their affordable housing unit must seek approval from a board.
Those who receive approval to sell their units can only do so after a minimum of eight years from the date of purchase.
The regulations specify that a purchaser cannot sell their affordable housing unit until they have completed payment of the agreed price for at least eight years.
To request consent to sell, applicants must submit a written application to the established board, explaining their reasons for wanting to sell.
Housing PS Charles Hinga emphasized during a Senate Delegated Legislation Committee meeting that they will not allow the sale of units as it could disrupt the market.
The committee, chaired by Tharaka Nithi Senator Mwenda Gataya, is responsible for overseeing the implementation of these regulations.
Hinga stated that they have conducted research and found that allowing sales of affordable housing units could have negative effects on the market.
The government aims to maintain stability in the affordable housing sector by implementing these regulations.
The regulations are still subject to public input and may undergo further changes before being finalized.