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.

 

Q2. 2018 Highlights

Property returns in a near triple as rents begin to rise

  • Asking rental prices in the quarter increase 3.3 per cent after a year of rent price falls. Landlords initiate rent escalations that had been halted as confidence restored in the market
  • Semi-detached houses see the highest quarterly increase with asking rents moving 5.6 per cent and 14.3 per cent respectively on an annual basis
  • Asking prices increase by 3.6 per over the quarter and by 5.1 per cent on an annual basis
  • Despite renewed confidence, the interest rate cap is a hurdle towards the market's full potential
  • Total returns on let property (capital gain + rental yield) surge to 11.4 per cent per annum buoyed by an improving rental market
The Hass Composite Rental Index
All Properties
3.3%
2.8%
1.79 Fold
Segment with Highest Quarterly Increase in Rental Price
Houses in Tigoni ( +4.8% over last year)
Segment with Lowest Quarterly Increase in Rental Price
Apartments in Athi River ( -1.9% over last year)
Segment with Highest Annual Increase in Rental Price
Houses in Limuru ( +13.3% over last year)
Segment with Lowest Annual Increase in Rental Price
Apartments in Upperhill ( -12.5% over last year)
Nairobi Suburbs
Property Rental Index
Donholm
-0.9%
-5.3%
1.66 FOLD
43,300
32,500
51,000
Eastleigh
0.7%
3.0%
2.86 FOLD
48,000
44,000
53,000
Gigiri
0.9%
4.8%
1.97 FOLD
356,300
300,000
400,000
Karen
0.1%
1.3%
1.89 FOLD
243,000
170,000
300,000
Kileleshwa
0.3%
0.8%
2.28 FOLD
230,000
160,000
300,000
Kilimani
-0.5%
0.9%
1.87 FOLD
180,000
130,000
240,000
Kitisuru
2.7%
5.7%
2.61 FOLD
339,400
250,000
420,000
Langata
1.0%
-2.2%
1.65 FOLD
192,000
100,000
280,000
Lavington
1.2%
2.0%
2.65 FOLD
275,800
230,000
346,300
Loresho
-0.7%
-4.5%
2.30 FOLD
232,000
180,000
270,000
Muthaiga
0.8%
4.8 %
2.61 FOLD
308,000
250,000
350,000
Nyari
0.7%
3.3%
1.72 FOLD
332,700
295,000
390,000
Parklands
3.6%
7.2%
2.20 FOLD
98,600
65,000
120,000
Ridgeways
0.4%
0.0%
2.17 FOLD
239,000
160,000
300,000
Runda
1.3%
2.3%
1.81 FOLD
318,000
250,000
390,000
Spring Valley
2.2 %
-3.9 %
1.76 FOLD
262,500
220,000
300,000
Upperhill
0.0%
-12.5%
2.82 FOLD
140,200
100,000
165,000
Westlands
0.1%
-0.7%
3.05 FOLD
220,500
160,000
270,000
Nairobi Satellite Town
Property Rental Index
Athi River
0.4%
-4.0%
1.50 FOLD
45,600
40,000
55,000
Juja
0.6%
-0.8%
2.79 FOLD
38,300
30,000
45,000
Kiambu
0.9%
3.6%
1.93 FOLD
130,700
100,000
150,000
Kiserian
-0.5%
-5.6%
2.27 FOLD
39,300
30,000
50,000
Kitengela
3.1%
-0.8%
1.84 FOLD
42,800
35,000
50,000
Limuru
4.4%
13.3%
2.42 FOLD
96,100
84,000
120,000
Mlolongo
2.7%
5.4%
2.16 FOLD
30,200
25,000
35,000
Ngong
2.9%
5.5%
2.53 FOLD
44,200
30,000
55,000
Ongata Rongai
2.9%
-2.3%
2.18 FOLD
40,300
30,000
50,000
Ruaka
3.9%
11.5%
2.34 FOLD
33,000
22,000
45,000
Ruiru
1.3%
7.8%
2.36 FOLD
50,400
38,500
60,000
Syokimau
-0.8%
-1.5%
1.94 FOLD
35,000
30,000
40,000
Thika
3.5%
-3.2%
1.89 FOLD
20,000
10,300
25,000
Tigoni
4.8%
11.6%
2.03 FOLD
100,000
60,000
150,000
Archived Reports