Kenyans In Diaspora Are Losing Millions To Relatives Back Home Who Have Turned To Fraudsters

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According to a real estate developer, Kenyans abroad are starting to think of other ways to invest back home since relatives have turned into fraudsters.

You just can’t trust them any more to build a house or make other major investments for you like many used to do.

Enkavilla Properties chief executive Meshack Muhoho said investors have to engage established real-estate firms with past records of completed projects when seeking to invest back home.

“Look at organisations with a history on real estate not beginners who post glossy pictures on social media. Engage professionals in conveyance matters to crosscheck details on any property you have identified and its documents before you strike a deal,” he said.

Muhoho said that this has affected Kenya in a big way since many people in the diaspora have shunned investing at home.

“Failing to invest when property prices are affordable and available is the biggest mistake anyone in the diaspora can make. They need to think about their future in a more proactive way where their investments will earn them rental income monthly,” he said.

He also asked the government to put strict measures to stop people from defrauding Kenyans their hard earned cash and, Kenyans should be very careful when choosing which company to work with when they need to invest back at home.

“Information technology has enabled everyone to open a social media account where they post pictures for shambas and houses they do not own. We must be careful to shun such fraudsters giving the real estate sector a bad name,” he said.

 

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