The Hass Sale Index

The Hass Sale Index is used to measure the asking price changes of residential housing nationwide throughout Kenya serving as an indicator of trends. It covers over 320 suburbs and towns across Kenya and was launched back in Quarter 3 2010, in its current format, replacing its earlier published indices by virtue of this time going back a full 10 years, from December 2000, to bring it fully in line with international property data standards. Property points now for 18 years covering several property cycles. In this time, indices have seen prices rise, stagnate and even fall. Additionally, introduced as at Quarter 3 2015, The Nairobi-18 Suburbs and Nairobi Satellite-14 Town indices compliment the Hass Sale Index, giving an area specific perspective. It is well received each quarter by the press, developers, governing bodies, financial institutions and importantly house buyers themselves. It is an impartial indicator of the past and current Kenyan real estate sector which Hass is committed to serve.

 

Q2. 2018 Highlights

Property returns in a near triple as rents begin to rise

  • Asking rental prices in the quarter increase 3.3 per cent after a year of rent price falls. Landlords initiate rent escalations that had been halted as confidence restored in the market
  • Semi-detached houses see the highest quarterly increase with asking rents moving 5.6 per cent and 14.3 per cent respectively on an annual basis
  • Asking prices increase by 3.6 per over the quarter and by 5.1 per cent on an annual basis
  • Despite renewed confidence, the interest rate cap is a hurdle towards the market's full potential
  • Total returns on let property (capital gain + rental yield) surge to 11.4 per cent per annum buoyed by an improving rental market
The Hass Composite Sale Index
All Properties
3.6 %
5.1 %
2.41 Fold
Segment with Highest Quarterly Increase in Sales Price
Apartments in Ngong ( +6.9% over last year)
Segment with Lowest Quarterly Increase in Sales Price
Apartments in Kilimani ( -2.3% over last year)
Segment with Highest Annual Increase in Sales Price
Houses in Ngong ( +15.6% over last year)
Segment with Lowest Annual Increase in Sales Price
Apartments in Thika ( -8.1% over last year)
Nairobi Suburbs
Property Sale Index
Donholm
1.8 %
5.8 %
3.27 FOLD
12,500,000
11,000,000
14,000,000
Eastleigh
-1.1%
3.3%
3.01 FOLD
13,300,000
12,000,000
13,500,000
Gigiri
2.7%
5.0 %
2.73 FOLD
109,400,000
95,000,000
120,000,000
Karen
1.7%
5.0%
3.26 FOLD
81,300,000
68,000,000
90,000,000
Kileleshwa
0.3%
-1.3%
2.71 FOLD
44,900,000
32,500,000
55,000,000
Kilimani
0.5%
-4.2%
2.48 FOLD
33,600,000
25,000,000
45,000,000
Kitisuru
0.8%
1.1%
2.80 FOLD
79,700,000
52,500,000
110,000,000
Langata
-0.4%
5.7%
4.33 FOLD
30,900,000
20,000,000
32,000,000
Lavington
2.5%
1.9%
2.75 FOLD
63,000,000
50,000,000
75,000,000
Loresho
1.8%
8.0%
2.36 FOLD
44,900,000
32,000,000
62,000,000
Muthaiga
-0.6%
3.0%
2.18 FOLD
71,600,000
35,000,000
89,000,000
Nyari
0.7%
1.4%
2.42 FOLD
89,600,000
85,000,000
110,000,000
Parklands
1.7%
6.5%
3.07 FOLD
23,500,000
18,000,000
28,000,000
Ridgeways
0.7%
-2.1%
2.38 FOLD
54,700,000
37,000,000
65,000,000
Runda
1.3%
0.9%
3.04 FOLD
85,900,000
70,000,000
105,000,000
Spring Valley
1.3%
4.2%
2.31 FOLD
61,400,000
52,000,000
70,000,000
Upperhill
0.1%
-0.6%
2.91 FOLD
22,600,000
18,000,000
27,500,000
Westlands
1.5%
7.3%
2.91 FOLD
50,900,000
38,000,000
60,000,000
Nairobi Satellite Town
Property Sale Index
Athi River
1.2%
5.6%
2.92 FOLD
13,100,000
10,500,000
14,500,000
Juja
-1.6 %
-2.6 %
2.60 FOLD
12,900,000
3,650,000
18,000,000
Kiambu
2.0 %
4.5 %
2.55 FOLD
25,700,000
20,300,000
30,000,000
Kiserian
-0.6%
-1.3%
2.48 FOLD
8,400,000
5,500,000
8,500,000
Kitengela
2.4%
8.8%
2.77 FOLD
11,200,000
7,200,000
15,000,000
Limuru
0.5%
11.6%
2.77 FOLD
24,800,000
19,000,000
30,000,000
Mlolongo
0.6%
3.4%
1.66 FOLD
6,000,000
4,530,000
7,000,000
Ngong
5.8%
15.6%
2.74 FOLD
12,700,000
7,200,000
15,000,000
Ongata Rongai
-1.6%
2.5%
2.65 FOLD
11,700,000
7,000,000
15,550,000
Ruaka
-0.2%
0.0%
1.89 FOLD
8,700,000
7,000,000
10,000,000
Ruiru
1.2%
5.8%
3.25 FOLD
14,100,000
10,000,000
17,000,000
Syokimau
1.8%
-1.3%
1.88 FOLD
6,900,000
5,300,000
7,800,000
Thika
-0.1%
-8.1%
1.70 FOLD
6,400,000
4,500,000
7,860,000
Tigoni
3.6%
11.7%
2.28 FOLD
29,900,000
21,900,000
40,000,000
Archived Reports