Kenya’s First and Most Expansive Price Index

HassConsult is committed to the quarterly publication of The Hass Property Index. This has proven over the last decade to be an important tool providing investors, home owners, the financial industry and consumers with current and historical information about house price inflation- allowing them to make informed decisions in the housing market, in order to enjoy the best possible returns.

We believe the index has also helped us all to understand far better the Kenyan real estate market, the urban residential market - and by extension, some of the dynamics within the Kenyan economy. In our experience, the best decisions are made with the clearest possible information. It is by working to flag within the market what is rising, and what falling, that we can do the most in ensuring funds are directed towards the properties that are currently most needed and most sought, particularly making the case for more affordable housing which is trending and now widely available.

Property Data Points
200,000+
Land Data Points
60,000+
Number of Price Indices Run Every Quarter
166
Client Research Studies
100+
Towns and Suburbs Covered Nationwide
320+

Q3. 2019 Highlights

Land prices register modest growth with focus on the direction of the interest rate caps

  • Land prices slightly rise over the quarter as the market awaits on the repealing of the interest rate cap following President Uhuru Kenyatta recommending that Parliament amends the Banking Act.
  • Repealing of the rate cap is expected to result in banks increasing lending to the private sector which will spur the general economy
  • Developers and mortgage borrowers expected to benefit from increased lending by commercial banks.
  • Kitisuru and Loresho suburbs continue to benefit following the completion of the Waiyaki Way-Red Hill link road which has made the two suburbs more accessible.
  • Upperhill prices fall to a two-year low as developers slowdown activity in the area that is now characterized by an oversupply of commercial offices and high vacancy rates.
  • Syokimau improves as prices in the satellite town correct following a two-year lull.
The Hass Composite Land Index, Nairobi Suburbs
Nairobi-18 Index Results
0.2%
1.7%
6.38 Fold
Suburb with Highest Quarterly Increase in Land Price
Land in Kitisuru (+2.7 % over last quarter)
Suburb with Highest Annual Increase in Land Price
Land in Loresho (+9.37 % over last year)
Suburb with Lowest Quarterly Increase in Land Price
Land in Gigiri (-2.11 % over last quarter)
Suburb with Lowest Annual Increase in Land Price
Land in Upperhill (-2.55 % over last year)
The Hass Composite Land Index, Nairobi Satellite Towns
Nairobi Satellite-14 Index Results
1.44 %
5.11 %
8.94 Fold
Suburb with Highest Quarterly Increase in Land Price
Land in Tigoni (+2.89 % over last quarter)
Suburb with Highest Annual Increase in Land Price
Land in Syokimau (+10.58 % over last year)
Suburb with Lowest Quarterly Increase in Land Price
Land in Ongata Rongai (-1.45 % over last quarter)
Suburb with Lowest Annual Increase in Land Price
Land in Kiambu (-1.69 % over last year)
Nairobi Suburbs
Land Index
Donholm
-0.5 %
-2.0 %
7.38 FOLD
68,600,000
55,000,000
80,000,000
Eastleigh
1.4 %
2.9 %
6.29 FOLD
302,300,000
160,000,000
472,000,000
Gigiri
-2.1 %
-0.9 %
6.80 FOLD
239,200,000
130,000,000
320,000,000
Karen
0.5 %
4.0 %
7.95 FOLD
62,200,000
55,000,000
70,000,000
Kileleshwa
1.3 %
1.5 %
7.56 FOLD
310,700,000
260,900,000
340,900,000
Kilimani
0.2 %
1.6 %
6.49 FOLD
433,000,000
400,000,000
480,000,000
Kitisuru
2.7 %
8.2 %
6.53 FOLD
90,900,000
70,000,000
110,000,000
Langata
2.1 %
7.9 %
6.13 FOLD
66,000,000
50,000,000
93,000,000
Lavington
-0.1%
-0.2%
5.72 FOLD
237,300,000
186,700,000
270,000,000
Loresho
1.4 %
9.4 %
5.86 FOLD
93,900,000
80,000,000
103,300,000
Muthaiga
0.6 %
1.0 %
6.64 FOLD
176,100,000
140,000,000
211,100,000
Nyari
2.3 %
5.2 %
6.35 FOLD
105,800,000
92,000,000
125,000,000
Parklands
-0.6 %
0.4 %
5.38 FOLD
418,700,000
357,100,000
480,000,000
Ridgeways
-1.2 %
2.8 %
6.63 FOLD
76,800,000
64,000,000
84,000,000
Runda
-1.5%
-2.2 %
6.13 FOLD
84,700,000
70,000,000
96,900,000
Spring Valley
0.9 %
5.5 %
4.49 FOLD
168,300,000
111,000,000
170,000,000
Upperhill
-0.7 %
-2.3 %
9.10 FOLD
545,700,000
460,000,000
600,000,000
Westlands
0.0 %
1.7 %
5.71 FOLD
418,500,000
350,000,000
500,000,000
Nairobi Satellite Town
Land Index
Athi River
1.2 %
5.9 %
10.44 FOLD
13,400,000
5,000,000
20,000,000
Juja
2.5 %
9.7 %
16.39 FOLD
14,200,000
4,800,000
18,400,000
Kiambu
2.1 %
1.7 %
7.51 FOLD
43,100,000
21,000,000
54,000,000
Kiserian
0.6 %
5.5 %
7.58 FOLD
7,500,000
3,500,000
9,600,000
Kitengela
1.0 %
10.6 %
7.90 FOLD
12,100,000
6,800,000
15,800,000
Limuru
2.2 %
1.8 %
11.90 FOLD
22,600,000
12,000,000
32,500,000
Mlolongo
0.1 %
7.8 %
5.65 FOLD
27,200,000
11,800,000
40,000,000
Ngong
0.3 %
3.4 %
6.88 FOLD
21,200,000
9,300,000
28,000,000
Ongata Rongai
-1.5%
2.9 %
8.95 FOLD
21,000,000
8,000,000
28,000,000
Ruaka
1.5 %
4.7 %
8.17 FOLD
90,900,000
60,000,000
116,000,000
Ruiru
2.9 %
5.4 %
10.89 FOLD
25,600,000
12,000,000
32,700,000
Syokimau
1.8%
10.6%
7.41 FOLD
22,600,000
13,200,000
29,200,000
Thika
-0.2 %
3.2 %
9.13 FOLD
18,700,000
7,500,000
24,700,000
Tigoni
2.9 %
4.2 %
9.52 FOLD
23,700,000
16,800,000
28,000,000