Kilimani Loses as Kiserian wins in the latest Q4 2021 Hass Property Index
Land prices in Nairobi’s suburbs
increased by 0.34 per cent over the quarter while in the satellite towns growth
stood at 1.4 per cent. The consistent, albeit mild, increase in land price
reflects the general economic recovery that was witnessed during the year.
HassConsult notes that the Kilimani suburb continues to cool as investors go slow on the area. This could be due to continued new developments that are high
density units that has shifted Kilimani from
the ample apartments and detached houses that the characterized the suburb a
decade ago. Kilimani
recorded a 0.9 percent drop over the quarter, the third consecutive drop in 2021
while on an annual basis the suburb recorded a 1.1 percent drop. Spring
Valley was the best performing suburb over with land prices recording a 5.6
percent quarterly increase and 10
percent annual increase.
Related:How Premier Agent helps you succeed as a real estate agent in Kenya
Donholm had the lowest growth in land prices among the city’s suburbs, having recorded
a 2.7 percent drop in the last quarter of 2021. In the towns, Kiserian
posted the strongest growth over the quarter and annually with asking prices
increasing by 5.2 percent and 19 percent respectively. Kiserian town’s low
entry point relative it its peers continues to make it attractive to
speculators. Limuru land prices recorded a 2.34 percent drop over the quarter
while Ruaka saw prices marginally drop by 1.22 percent.
Asking prices, across all properties, moderately increased by 3 percent over the
quarter and 3.1 percent over the year. Houses in Westlands were the best
performers in the suburbs improving by 3 percent over the quarter while their
equivalents in Ngong topped the towns with a 3.5 percent
return.
Important: How to use
Google Maps to sell more as a real estate agent.
Runda saw house prices drop by 0.9 percent while Tigoni recorded a 1.9
percent drop over the quarter. On the rental front, the market was static at
0.2 percent while Ridgeways saw houses record a 2.5 percent increase while Ruaka apartments
saw a 4.5 percent increase.
For more information, please contact Hass Consult on 0709479000 or email info@hassconsult.co.ke