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Public Relations Public Relations House Prices in Kenya’s Capital Fell 2.2% in Third Quarter
House Prices in Kenya’s Capital Fell 2.2% in Third Quarter PDF Print E-mail
Written by Written By Sarah McGregor for Bloomberg October 1 2009   

(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.

The average cost for a residence in Nairobi was 19.9 million shillings ($264,909) in the third quarter, from 20.4 million shillings three months earlier.

The drop in home prices indicates the economic downturn has forced Kenya’s consumers to curb borrowing and cut spending, according to HassConsult, a Nairobi-based estate agency.

To contact the reporter on this story: Sarah McGregor in Nairobi at This e-mail address is being protected from spambots. You need JavaScript enabled to view it