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.

 

Q4. 2018 Highlights

Development needs driving localised land price surges as market becomes more sophisticated

  • Overall, land price growth slowed across 2018, most significantly across Nairobi's suburbs, which saw price rises of 1.1 per cent for the full year.
  • Similarly, prices in satellite areas rose 3.7 per cent in 2018, compared with 5.43 per cent in 2017.
  • But growth has become more localised, with overall growth driven by strong rises in areas of intensive ongoing development or immediate development potential.
  • This saw prices in Juja rise 16.5 per cent over the year, and in Gigiri by 10.6 per cent.
  • The area of sharpest price take off in the fourth quarter of 2018 was Mlolongo, where prices rose by 4.6 per cent in the last 12 weeks of the year.
  • These development drivers see Nairobi land continuing to outperform global asset classes, in a year when the prices of both gold and oil declined sharply.
The Hass Composite Land Index, Nairobi Suburbs
Nairobi-18 Index Results
0.4%
1.1%
6.30 Fold
Suburb with Highest Quarterly Increase in Land Price
Land in Gigiri ( +3.43% over last quarter)
Suburb with Highest Annual Increase in Land Price
Land in Gigiri ( +10.61% over last year)
Suburb with Lowest Quarterly Increase in Land Price
Land in Upperhill ( -1.16% over last quarter)
Suburb with Lowest Annual Increase in Land Price
Land in Kilimani ( -3.88% over last year)
The Hass Composite Land Index, Nairobi Satellite Towns
Nairobi Satellite-14 Index Results
0.21%
3.72%
8.52 Fold
Suburb with Highest Quarterly Increase in Land Price
Land in Mlolongo(+4.62% over last quarter)
Suburb with Highest Annual Increase in Land Price
Land in Juja (+16.45% over last year)
Suburb with Lowest Quarterly Increase in Land Price
Land in Kiambu (-1.81% over last quarter)
Suburb with Lowest Annual Increase in Land Price
Land in Kiambu (-5.18% over last year)
Nairobi Suburbs
Land Index
Donholm
0.3%
1.3%
7.55 FOLD
70,200,000
55,000,000
80,000,000
Eastleigh
0.8%
4.9%
6.16 FOLD
296,300,000
157,000,000
450,000,000
Gigiri
3.4%
10.6%
7.10 FOLD
249,600,000
110,000,000
358,300,000
Karen
1.1%
3.2%
7.73 FOLD
60,400,000
55,000,000
66,700,000
Kileleshwa
0.1%
6.2%
7.45 FOLD
306,500,000
260,000,000
340,000,000
Kilimani
-0.1%
-3.9%
6.38 FOLD
425,700,000
392,900,000
490,600,000
Kitisuru
1.5%
6.8%
6.13 FOLD
85,400,000
75,000,000
100,000,000
Langata
2.5%
6.5%
5.82 FOLD
62,700,000
50,000,000
70,000,000
Lavington
0.6%
2.1%
5.77 FOLD
239,200,000
193,000,000
279,600,000
Loresho
1.8%
5.9%
5.46 FOLD
86,800,000
76,000,000
100,000,000
Muthaiga
1.6%
1.1%
5.60 FOLD
148,500,000
100,000,000
200,000,000
Nyari
0.8 %
0.1 %
6.08 FOLD
101,300,000
90,000,000
110,000,000
Parklands
-0.4%
0.3 %
5.34 FOLD
415,300,000
380,000,000
460,000,000
Ridgeways
0.7 %
8.7 %
6.49 FOLD
75,200,000
64,000,000
80,000,000
Runda
0.0%
3.0 %
6.27 FOLD
86,700,000
70,000,000
100,000,000
Spring Valley
-0.2%
-1.9%
4.24 FOLD
159,100,000
120,000,000
185,700,000
Upperhill
-1.2 %
0.2 %
9.20 FOLD
551,800,000
465,100,000
618,900,000
Westlands
1.5 %
0.6 %
5.70 FOLD
417,500,000
360,000,000
480,000,000
Nairobi Satellite Town
Land Index
Athi River
0.6 %
8.7 %
9.92 FOLD
12,700,000
4,000,000
18,000,000
Juja
2.3%
16.5%
15.28 FOLD
13,300,000
4,800,000
17,100,000
Kiambu
-1.8 %
-5.2 %
7.25 FOLD
41,600,000
22,000,000
50,000,000
Kiserian
-0.3 %
-2.0 %
7.16 FOLD
7,100,000
3,600,000
9,600,000
Kitengela
0.9%
-2.6%
7.22 FOLD
11,000,000
6,400,000
14,400,000
Limuru
-1.5%
6.6 %
11.52 FOLD
21,900,000
12,000,000
30,000,000
Mlolongo
4.6%
7.6 %
5.48 FOLD
26,400,000
13,000,000
40,000,000
Ngong
1.2 %
9.2 %
6.73 FOLD
20,700,000
12,000,000
26,300,000
Ongata Rongai
1.0%
9.3%
8.79 FOLD
20,600,000
8,700,000
28,000,000
Ruaka
-0.5%
3.9%
7.76 FOLD
86,400,000
65,000,000
112,000,000
Ruiru
-0.4 %
4.1%
10.29 FOLD
24,200,000
11,200,000
32,000,000
Syokimau
0.4%
-2.8%
6.73 FOLD
20,500,000
14,000,000
27,800,000
Thika
0.3 %
0.9%
8.88 FOLD
18,200,000
9,000,000
24,100,000
Tigoni
1.7%
7.1%
9.28 FOLD
23,100,000
15,800,000
30,000,000
Archived Report