Do entry-level apartment complexes bring down surrounding property prices?

There is a challenge to provide residential units that will cater to the means and needs of the wider populace.

Some people choose to live in a freestanding residential unit, while others prefer to live in a complex. Some do it not so much through choice, but due to economic circumstances.

Property developers need to strike a balance of providing both houses and apartment units, with the latter more geared towards first-time property owners or for those with limited income.

One will often find that a large tract of land will be divided and used to provide both types of housing, but what are the long term implications for those houses that are in close proximity to the apartment complexes?

There are some who say that the apartments are rented out indiscriminately and as a result, they become overcrowded and lead to anti-social behaviour in the area, leading to a decrease in property values for the nearby neighbourhood.

Property expert Steven Delit of Remax properties says this need not be the case, as it would depend on who buys the property and what their intentions are.

Listen to his interview with Kieno Kammies below:


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