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

The Hass Sale Index is used to measure the asking price changes of residential housing nationwide throughout Kenya serving as an indicator of trends.


Q3. 2019 Highlights

Lower middle-income households opt for long journeys home in search for cheaper rent as the tough economic environment bites

  • Apartments in Thika recorded the strongest annual growth rate in rents at 13.3 per cent while houses in Tigoni recorded the highest quarterly rate increase at 3.5 per cent.
  • Highest growth in asking rent prices in the three months from August to October was recorded in Tigoni at 3.5% and Ongata Rongai at 3.1% as their affordability relative to other satellite towns attract tenants who are opting for cheaper rents in light of the tough economic times.
  • Kitengela, Mlolongo, Ruaka and Limuru also posted increase asking rent prices.
  • Parklands recorded strongest growth in apartment rents in the quarter and annually at 1.9 per cent and 9.3 per cent respectively.
  • The tough economic conditions continue to weigh the overall rental and property sales markets with rental prices for all properties falling by 0.9% in the quarter and asking house sale prices growing by 0.9% in the last three months.
  • Semi-detached posted strongest total returns at 13.54 per cent (capital gains + rental yields) driven by investors who are preferring this midmarket over detached which is pricier and apartments where there is oversupply and as a result rents of being discounted to attract tenants.
  • Upperhill records price correction after the suburb sees a reversal in prices after three-years, during which prices of apartments have been on a downward steep as discounts continue.
  • Nyari and Loresho continue to benefit from the completion of the Redhill Waiyaki way link road.
  • Affordability and increased accessibility spur Ngong and Thika apartment rental market as tenants tighten belts in these tough times.
The Hass Composite Sale Index
All Properties
0.9 %
-3.4 %
2.36 Fold
Segment with Highest Quarterly Increase in Sales Price
Houses in Ridgeways (+3.9 % over last quarter)
Segment with Lowest Quarterly Increase in Sales Price
Houses in Juja ( -3.0 % over last quarter)
Segment with Highest Annual Increase in Sales Price
Houses in Nyari Estate ( +12.4 % over last year)
Segment with Lowest Annual Increase in Sales Price
Houses in Juja ( -7.8% over last year)
Nairobi Suburbs
Property Sale Index
Donholm
1.6 %
4.3 %
3.44 FOLD
13,100,000
11,000,000
15,000,000
Eastleigh
0.1 %
0.5 %
3.06 FOLD
13,500,000
12,200,000
14,900,000
Gigiri
1.1 %
5.2 %
2.91 FOLD
116,700,000
85,000,000
143,700,000
Karen
0.6 %
6.2 %
3.52 FOLD
87,800,000
70,000,000
105,000,000
Kileleshwa
-1.7 %
3.1%
2.85 FOLD
47,200,000
35,000,000
60,100,000
Kilimani
0.1 %
0.9 %
2.58 FOLD
34,900,000
26,500,000
40,100,000
Kitisuru
1.7 %
4.1 %
2.93 FOLD
83,400,000
52,500,000
120,000,000
Langata
-2.3 %
-3.8 %
4.24 FOLD
30,300,000
16,900,000
32,300,000
Lavington
0.7 %
3.7 %
2.90 FOLD
66,800,000
52,000,000
75,000,000
Loresho
1.8 %
9.5 %
2.61 FOLD
49,700,000
33,000,000
69,900,000
Muthaiga
1.7 %
8.6 %
2.44 FOLD
80,100,000
51,500,000
95,000,000
Nyari
2.1 %
12.4 %
2.80 FOLD
103,600,000
85,000,000
120,000,000
Ridgeways
3.9 %
10.6 %
2.68 FOLD
61,700,000
47,000,000
82,500,000
Runda
1.1 %
4.8 %
3.25 FOLD
92,000,000
70,000,000
120,000,000
Spring Valley
1.8 %
4.7 %
2.43 FOLD
64,500,000
55,000,000
75,000,000
Westlands
1.1 %
4.8 %
3.11 FOLD
54,400,000
40,000,000
61,800,000
Nairobi Satellite Town
Property Sale Index
Athi River
0.3 %
5.5 %
3.20 FOLD
14,100,000
11,000,000
15,000,000
Juja
-3.0 %
-7.8 %
2.50 FOLD
12,200,000
5,900,000
16,000,000
Kiambu
1.0 %
7.1 %
2.80 FOLD
27,900,000
23,900,000
35,000,000
Kiserian
0.6 %
1.5 %
2.60 FOLD
8,700,000
5,500,000
10,000,000
Kitengela
-0.6 %
0.4 %
2.90 FOLD
11,500,000
7,800,000
14,000,000
Limuru
1.3 %
8.8 %
3.00 FOLD
27,300,000
20,200,000
30,900,000
Ngong
0.2 %
4.0 %
3.00 FOLD
13,700,000
7,500,000
16,000,000
Ongata Rongai
-0.7 %
-1.7 %
2.60 FOLD
11,500,000
6,500,000
15,000,000
Ruiru
0.3 %
-0.9 %
3.20 FOLD
14,000,000
8,000,000
18,000,000
Thika
-1.7 %
3.3 %
1.80 FOLD
6,800,000
4,900,000
7,800,000
Tigoni
0.4 %
0.4 %
2.40 FOLD
31,100,000
23,100,000
41,200,000