Land prices in Nairobi’s suburbs defied tough economy to increase by 1.3 per cent per acre on average in the first quarter of 2024, shows HassConsult’s latest land price index.
According to the report, average price per acre in the satellite estates now is KSh203.7 million, surpassing the KSh200 million mark for the recorded in the last quarter of 2023.
Spring Valley and Lavington recorded price growth in the first quarter at 3.8 per cent and 4 per cent respectively.
However, Kileleshwa posted a price decrease at a marginal -0.1 per cent.
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Sakina Hassanali, Head of Development, Consulting and Research at Hass Consult said, “The growth in prices across 17 of 18 suburbs, despite the slowdown in pace in the quarter compared to the last quarter of 2023, shows that the upper end of the market is sustaining demand.”
HassConsult report is quarterly published to provide investors, the financial industry, home owners and consumers with valuable information on property price inflation to enable them make best decisions so as to enjoy the best possible returns on their investments.
By our reporter
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