Q4. 2018 Highlights
Land prices on three tracks; corrections in overheated areas, steady rise in well supplied areas, and sharp growth in short-supply, desirable areas
- The Nairobi land market is maturing into a market with distinct local patterns.
- A cluster of overheated suburbs and satellite areas that enjoyed ahead-of-market price growth are all now reporting moderate negative corrections.
- Correcting hotspots within Nairobi are Upper Hill, Kilimani, Nyari, Spring Valley and Donholm.
- Correcting hotspots around Nairobi are Kiambu, Kiserian, Riuru and Kitengela.
- Areas with ample land supply are delivering land price growth within Nairobi, notably in Karen, Runda, Lavington and Westlands, but rates are subdued. Desirable areas with short land supply continue to deliver land price growth well ahead of inflation.
- Current low-supply, high demand areas in Nairobi are Loresho, Ridgeways, Kitisuru, Gigiri and Langata, with prices rising from 4.9 per cent to 9.95 per cent in the last year.