The Hass Rental Index

The Hass Rental Index is used to measure the asking price changes of residential lettings 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 rental up and downturns. Additionally, introduced as at Quarter 3 2015, The Nairobi-18 Suburbs and Nairobi Satellite-14 Town indices compliment the Hass Lettings Index, giving an area specific perspective. It is well received each quarter by the press, developers, governing bodies, financial institutions and importantly renters and investors. It is an impartial indicator of the past and current Kenyan rental sector which Hass is committed to serve.

 

Q3. 2018 Highlights

Westlands properties benefit from spillover of the suburb becoming a MICE Hotspot

  • Property prices posted a 1.1 per cent over the quarter with detached housing leading the segment up 1.3 per cent in the while semi-detached houses posted the strongest total return at 11.8 per cent
  • Westlands suburb showing the strongest performance over the year with prices in the area improving by 7.9 per cent as it undergoes the "rediscovery" phase of the urban regeneration cycle - a result of high income earners moving back to neighborhoods more central to the city
  • Westlands receives the lion's share of major hotel brands that are setting up in Nairobi to tap into the growing Meetings, Incentives, Conferences, and Exhibitions (MICE) niche market.
  • Rents across the market increased by 1.5 per cent over the quarter down from 3.3 per cent in the previous quarter on tightening market liquidity.
The Hass Composite Rental Index
All Properties
1.5%
4.7%
1.82 Fold
Segment with Highest Quarterly Increase in Rental Price
Apartments in Ngong ( +6.1% over last year)
Segment with Lowest Quarterly Increase in Rental Price
Houses in Gigiri ( -0.5% over last year)
Segment with Highest Annual Increase in Rental Price
Houses in Tigoni ( +13.1% over last year)
Segment with Lowest Annual Increase in Rental Price
Apartments in Upperhill ( -9.6% over last year)
Nairobi Suburbs
Property Rental Index
Donholm
4.5%
0.8%
1.73 FOLD
45,200
35,000
54,000
Eastleigh
0.4%
0.8%
2.87 FOLD
48,200
42,000
54,000
Gigiri
-0.5%
2.6%
1.96 FOLD
354,600
300,000
400,000
Karen
0.4%
2.5%
1.90 FOLD
244,100
170,000
300,000
Kileleshwa
0.4%
0.0%
2.29 FOLD
231,200
160,000
300,000
Kilimani
2.0%
5.1%
1.91 FOLD
183,600
120,000
240,000
Kitisuru
0.6%
2.8%
2.63 FOLD
341,300
250,000
420,000
Langata
0.4%
-1.4%
1.66 FOLD
192,700
92,500
280,000
Lavington
0.1%
0.5%
2.66 FOLD
276,100
230,000
350,000
Loresho
1.3%
-3.1%
2.33 FOLD
235,000
190,000
270,000
Muthaiga
0.3%
4.5 %
2.62 FOLD
308,800
250,000
358,000
Nyari
0.8%
4.3%
1.74 FOLD
335,300
300,000
380,000
Parklands
2.3%
8.4%
2.25 FOLD
100,900
72,500
120,000
Ridgeways
2.2%
3.8%
2.22 FOLD
244,200
167,000
280,000
Runda
0.6%
3.0%
1.82 FOLD
320,700
260,000
390,000
Spring Valley
1.9 %
0.5 %
1.79 FOLD
267,400
200,000
300,000
Upperhill
1.4%
-9.6%
2.87 FOLD
142,200
110,000
150,000
Westlands
0.6%
0.6%
3.07 FOLD
221,900
160,000
270,000
Nairobi Satellite Town
Property Rental Index
Athi River
2.9%
-3.6%
1.50 FOLD
46,900
40,000
55,000
Juja
1.1%
-1.1%
2.80 FOLD
38,800
30,000
47,000
Kiambu
2.5%
6.3%
2.0 FOLD
133,900
100,000
150,000
Kiserian
4.7%
-1.7%
2.4 FOLD
41,200
25,000
45,000
Kitengela
1.3%
1.5%
1.9 FOLD
43,400
35,000
50,000
Limuru
2.1%
12.8%
2.5 FOLD
98,100
85,000
113,000
Ngong
3.7%
11.7%
2.6 FOLD
45,900
30,000
55,000
Ongata Rongai
1.2%
1.8%
2.2 FOLD
40,800
30,000
50,000
Ruiru
0.9%
5.8%
2.4 FOLD
50,800
38,000
65,000
Tigoni
2.0%
13.1%
2.1 FOLD
100,000
55,000
150,000
Archived Reports