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

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 Rental Index
All Properties
-0.9 %
0.8 %
1.84 Fold
Segment with Highest Quarterly Increase in Rental Price
Houses in Tigoni ( +3.5% over last quarter)
Segment with Lowest Quarterly Increase in Rental Price
Apartments in Ongata Rongai ( -6.1% over last quarter)
Segment with Highest Annual Increase in Rental Price
Apartments in Ngong ( +15.8% over last year)
Segment with Lowest Annual Increase in Rental Price
Houses in Athi River ( -4.1% over last year)
Nairobi Suburbs
Property Rental Index
Donholm
-1.1 %
-0.6 %
1.72 FOLD
44,900
35,000
57,000
Eastleigh
0.3 %
2.4 %
2.94 FOLD
49,400
46,000
54,000
Gigiri
0.4 %
1.6 %
1.99 FOLD
360,100
300,000
450,000
Karen
-0.3 %
-2.2 %
1.86 FOLD
238,800
160,000
300,000
Kileleshwa
-1.4 %
2.2 %
2.35 FOLD
236,300
150,000
300,000
Kilimani
0.5 %
3.2 %
1.97 FOLD
189,500
130,000
250,000
Kitisuru
-1.8 %
-1.1 %
2.60 FOLD
337,600
250,000
420,000
Langata
-0.6 %
-0.8 %
1.65 FOLD
191,200
85,000
278,000
Lavington
0.6 %
2.9 %
2.73 FOLD
284,100
230,000
350,000
Loresho
-2.7 %
-3.5 %
2.25 FOLD
226,900
200,000
250,000
Muthaiga
0.0 %
1.1 %
2.65 FOLD
312,300
220,000
400,000
Nyari
-0.4 %
0.5 %
1.75 FOLD
336,900
300,000
380,000
Ridgeways
-1.2 %
-1.1 %
2.20 FOLD
241,500
155,000
280,000
Runda
0.3 %
2.5 %
1.86 FOLD
328,500
270,000
400,000
Spring Valley
-2.0 %
-1.5 %
1.76 FOLD
263,300
200,000
300,000
Westlands
0.9 %
5.0 %
3.22 FOLD
232,900
160,000
280,000
Nairobi Satellite Town
Property Rental Index
Athi River
-0.9 %
-4.1%
1.50 FOLD
45,000
35,000
59,000
Juja
-0.4 %
0.1 %
2.80 FOLD
38,800
30,000
47,000
Kiambu
-2.0 %
1.1%
2.00 FOLD
135,400
11,000
160,000
Kiserian
-4.6 %
-2.2 %
2.30 FOLD
40,300
25,000
49,000
Kitengela
1.2 %
-3.6 %
1.80 FOLD
41,800
35,000
50,000
Limuru
0.7 %
2.0 %
2.50 FOLD
100,100
90,000
120,000
Ngong
-1.7%
4.7 %
2.70 FOLD
48,000
40,000
55,000
Ongata Rongai
3.1 %
1.9 %
2.30 FOLD
41,500
30,000
45,000
Ruiru
-1.2 %
1.1 %
2.40 FOLD
51,400
40,000
65,000
Thika
1.3 %
13.3 %
2.20 FOLD
23,400
12,000
36,000
Tigoni
3.5 %
4.7 %
2.20 FOLD
100,000
72,000
150,000