The Hass Land Index

The Hass Land Index is used to measure the asking price changes of development land values in Nairobi and its satellite towns serving as an indicator of trends, shown as average asking price per acre. It covers 32 suburbs and towns and was introduced as at Quarter 4 2014 with data going back from December 2007. Property points now for 10 years focusing on Nairobi and its environs giving an area specific perspective, rather than Nationwide. It is well received each quarter by the press, property developers, governing bodies, financial institutions and importantly Kenyans wishing to build their own homes. It is an impartial indicator of the past and current Kenyan land market which Hass is committed to serve.

 

Q3. 2017 Highlights

Land prices in Kiambu County take a fall as policy changes on land use is proposed

  • Overall property prices drop by 1.8 per cent while asking rents drop by 0.3 per cent with apartments accounting for the biggest drop for both asking property prices and rents.
  • Property prices fall as uncertainty following the Supreme Court ruling subdues buying activity.
  • The lack of clarity on the electoral process freezes activity across all property segments as investors put on hold decisions pending conclusion of the process.
  • The property market showed a pickup in activity following the announcement of the winner in mid-August but the decision for a repeat of the Presidential election reverses the earlier trend.
  • Suburbs along the diplomatic zone buck the trend recording increases over the quarter.
  • Gigiri was best performing suburb over the quarter with property prices increasing by 4.8 while Muthaiga was the top performer on an annual basis with prices increasing by 12.5 per cent.
  • Property prices in satellite towns increase marginally by 0.1 per cent over the quarter.
The Hass Composite Land Index, Nairobi Suburbs
Nairobi-18 Index Results
0.4%
3.2%
6.18 Fold
Suburb with Highest Quarterly Increase in Land Price
Kilimani ( +2.5% over last quarter)
Suburb with Highest Annual Increase in Land Price
Langata ( +8.5% over last year)
Suburb with Lowest Quarterly Increase in Land Price
Lavington ( -2.6% over last quarter)
Suburb with Lowest Annual Increase in Land Price
Ridgeways ( -0.5% over last year)
The Hass Composite Land Index, Nairobi Satellite Towns
Nairobi Satellite-14 Index Results
-1.7%
5.0%
7.99 Fold
Suburb with Highest Quarterly Increase in Land Price
Ngong (+3.8% over last quarter)
Suburb with Highest Annual Increase in Land Price
Kitengela (+13.0% over last year)
Suburb with Lowest Quarterly Increase in Land Price
Ongata Rongai (-5.9% over last quarter)
Suburb with Lowest Annual Increase in Land Price
Ongata Rongai (-2.0% over last year)
Nairobi Suburbs
Land Index
Donholm
0.7 %
7.2 %
7.01 FOLD
65,200,000
38,300,000
85,300,000
Eastleigh
2.0 %
8.0 %
5.92 FOLD
284,500,000
204,000,000
360,000,000
Gigiri
-1.4 %
5.5 %
6.54 FOLD
229,900,000
215,000,000
265,500,000
Karen
0.4 %
6.8 %
7.47 FOLD
58,500,000
54,000,000
65,000,000
Kileleshwa
-0.8 %
0.5 %
6.99 FOLD
287,600,000
240,000,000
322,200,000
Kilimani
2.5 %
2.6 %
6.56 FOLD
437,800,000
300,000,000
460,000,000
Kitisuru
-1.9 %
1.2 %
5.52 FOLD
76,900,000
65,000,000
90,000,000
Langata
1.0 %
8.5 %
5.52 FOLD
59,400,000
45,300,000
70,000,000
Lavington
-2.6 %
1.6 %
5.67 FOLD
235,100,000
200,000,000
270,000,000
Loresho
1.8 %
0.9 %
5.04 FOLD
80,000,000
64,000,000
96,000,000
Muthaiga
0.7 %
8.0 %
5.25 FOLD
139,300,000
98,800,000
185,000,000
Nyari
0.9 %
0.1 %
6.16 FOLD
102,700,000
90,00,000
110,000,000
Parklands
-0.2 %
1.6 %
5.27 FOLD
410,100,000
355,400,000
480,000,000
Ridgeways
-2.2 %
-0.5 %
5.92 FOLD
68,500,000
60,000,000
74,000,000
Runda
1.4 %
5.8 %
6.00 FOLD
83,000,000
70,000,000
91,700,000
Spring Valley
0.7 %
5.9 %
4.22 FOLD
158,400,000
119,200,000
195,800,000
Upperhill
-1.4 %
1.7 %
9.06 FOLD
543,400,000
450,000,000
655,000,000
Westlands
0.1 %
3.1 %
5.70 FOLD
417,500,000
350,000,000
517,500,000
Nairobi Satellite Town
Land Index
Athi River
-1.9 %
1.5 %
8.89 FOLD
11,400,000
4,000,000
16,000,000
Juja
-5.0 %
8.7 %
12.52 FOLD
10,900,000
3,300,000
15,400,000
Kiambu
-1.8 %
5.2 %
7.43 FOLD
42,600,000
20,000,000
59,200,000
Kiserian
-3.0 %
5.7 %
7.28 FOLD
7,200,000
2,600,000
10,000,000
Kitengela
3.3 %
13.0 %
7.14 FOLD
10,900,000
6,000,000
14,600,000
Limuru
-5.7 %
0.6 %
10.26 FOLD
19,500,000
8,700,000
28,000,000
Mlolongo
0.7 %
7.4 %
5.18 FOLD
25,000,000
12,000,000
40,000,000
Ngong
3.8 %
0.5 %
5.97 FOLD
18,300,000
10,800,000
24,000,000
Ongata Rongai
-5.8 %
-2.0 %
7.61 FOLD
17,900,000
8,000,000
22,000,000
Ruaka
-1.2 %
7.2 %
7.19 FOLD
80,000,000
60,100,000
100,000,000
Ruiru
-3.5 %
5.7 %
9.56 FOLD
22,500,000
10,000,000
32,000,000
Syokimau
1.9 %
12.2 %
7.01 FOLD
21,400,000
18,000,000
25,000,000
Thika
-0.6 %
1.2 %
8.92 FOLD
18,300,000
6,500,000
28,000,000
Tigoni
-1.7 %
8.0 %
8.35 FOLD
20,800,000
17,000,000
24,000,000
Archived Report