The streets of Addis Abeba are as varied as they are many, although too many of them have yet to be named. From the narrow alleyways of the old Piassa to the boulevards of contemporary Bole and the belt road that encircles the city, the scene is constantly changing. However, what seems not to change as much is the collage of posters and brochures posted along these streets, advertising the services of countless brokers.

Worqineh Dejene, 41, is one of these brokers active in the capital. His life and vocation have been less than predictable. With a surge in demand in the property market in recent months, he usually spent his time running around, hunting down clients. Receiving dozens of phone calls from homebuyers and many of his partners and brokering deal after deal, days normally went quickly for him.

The last few weeks have been more reticent, however. Now idled, he reminisces about the hectic schedule he had just months ago.

"There was high demand from buyers, although the same could not have been said about the other side," said Worqineh.

A series of measures by city and federal authorities halted him in his tracks.

“You never know what's going to happen with this job,” Worqineh says.

There are enough reasons for him to be alarmed, with the situation unfolding in the country over the last three weeks. Decisions that wreak havoc on his work began on July 12, 2021, when the Documents Authentication & Registration Agency (DARA) limited its services in all its offices across the city, its officials claiming a system upgrade.

But two major developments followed a month later.

Authorities at the central bank forced all commercial banks to freeze collateral-based loans, a measure which its official hope would weaken those they accuse of working to "sabotage the economy." The collateral damage of such an abrupt decision communicated to the senior executives of the banks was the property market. Intermediaries like Worqineh remained the most affected as business went dead; a source of funds for homebuyers and builders dried up.

The sudden but shocking measure by the central bank was followed by the Addis Abeba City Mayor's Office, suspending the transfer of lease rights and related services until further notice.

Preparing dozens of letters was sufficient for city officials in ordering district administrations, the Land Development & Management Bureau and its subordinates to enforce the restriction, allegedly taken to curtail "illicit activities" in the property market. They have instructed them to suspend all but services approved by the city cabinet.

According to Zemen Junedin, head of the City Administration's press secretariat, the city administration was aware of widespread illegal landholdings and expansion works.

"The administration won't tolerate any misuse," Zemen told Fortune.

These measures the central bank and the city administration have taken may appear to have come about separately. But they seem to be part of a coordinated effort by the authorities to crack down on activities they refer to as "economic sabotage."

Federal authorities have been alarmed by the sudden and sharp rise of the value of foreign currencies against the Birr. The parallel market began to offer a margin of up to 30 Br for a Dollar, increasing by three folds from its historical trend. While a Dollar was exchanged for 45 Br in the official market in mid-August 2021, the parallel market offered as high as 75 Br. The rate has dropped to 60 Br since, emboldening the officials that their actions have paid off.

The authorities blamed it on those who take loans from banks collateralising their properties, and taking the money out in foreign exchange through the parallel market. As a relief measure, the property market was targeted.

The Administration has been clamping down on land allocations over the years, zooming in 400 leasees blamed for misappropriation. In August 2018, during the reshuffle in the City Administration's cabinet, land-related services were temporarily suspended. Late last year, a temporary suspension on property transactions was enforced following the demonetisation of the Birr.

The latest suspension, the third since the coming to office of Prime Minister Abiy Ahmed's administration, would compel the public notary office not to resume providing services to the sale and transfer of properties, even upon completing the system upgrade.

"We'll recommence our work when the City Administration does [lift the suspention]," said Mulken Amare, a director at the Agency, which had authenticated and registered 196,436 property holdings last year, worth over two billion Birr in transactional value.

Along with land lease-related services, the provision of design and building permits has been suspended, leaving many in the consulting and contractor business in the cold.

The City Infrastructure Coordination, Building Permit & Control Authority is in charge of issuing these permits. According to its Director-General, Helawi Sewnet, the services were halted as issuing permits requires verifications on whether the property in question is frozen by a court or has loans unsettled with banks or arrears in tax.

Though such measures are meant to discourage "illegal transactions," it comes with a cost for the officials.

It caused great distress for the construction and housing industry, which has been growing as an economic base, closely tied with huge financial transactions, high employment and the expansion in the construction materials and equipment industry.

These restrictions have not only impacted the big players.