Kenyans are in a rush to own property and as a result, the property market is enjoying a major boom that has persisted over the last few years. Agents in the real estate sector hail this as the ‘coming of age’ for Kenya’s property market. Despite this, skeptics wonder if this phenomenal rise in property prices — more than 100 per cent in numerous cases — is reason for concern.
There will be no significant drop in the price of residential houses as some analysts had earlier predicted, a real estate agent has said. According to Hassconsult, the figures (Hass Property Index) drawn from their sales and backed by data from other agents indicated that prices for residential houses had stabilised in Nairobi.
Oct. 5 (Bloomberg) -- Kenya’s price-weighted All-Share Index dropped 0.1, or 0.2 percent, to 54.99 at the close in Nairobi today.
(Bloomberg) -- House prices in Kenya’s capital, Nairobi, fell 2.2 percent in the three months through September compared with the previous quarter, according to a property- price index released by HassConsult.
You could soon afford to buy a house in one of the high-end estates in Nairobi, or other major urban areas as demand for such properties starts to fall.
Prices of upper and middle income houses in Nairobi are falling after consistently rising in the last two years, this according to a property index issued by real estate agents, HassConsult.
The average property price in Nairobi’s upmarket suburbs shot up by 29 % from an average of Sh15.7 million in 2006 to Sh20.2 million last year, a new property index shows.
The prices of upper and middle class homes in Nairobi are falling again after a surge in 2007 that covered last year, a new property index by real estate firm HassConsult shows.
Combining finance and real estate has pushed HassConsult to a pole position and become a launching pad that has turned many real estate investors into millionaires. Founded 18 years ago, Hass Consult has become one of the leading movers at the top end of the property market in Kenya and off shore.
A local real estate agency, Hass Consult Limited has been awarded two top real estate prizes by the International Property Awards forum of Britain. Hass Consult won the “Best Real Estate Agency’ in Kenya, and ‘Best Real Estate Agency Marketing in Kenya’ awards