This archive report was first published on 26 July 2021.
Investors seeking the highest returns on land investments in Nairobi Metropolitan towns have been presented with a list of top-performing areas by Cytonn Investments.
According to the Nairobi Metropolitan Area (NMA) Land Report released on Sunday, July 25, 2021, Ongata Rongai in Kajiado County recorded the highest capital appreciation at 8.9 per cent for the 2020/2021 financial year.
With an acre of land retailing for Ksh18 million now going for Ksh19.8 million, a jump of capital appreciation from 3.8 percent the previous financial year, Ongata Rongai takes the lead in the serviced land category of satellite towns.
Athi River recorded the second highest returns with its value rising from Ksh12 million to Ksh13.1 million, representing an 8.7 per cent positive deviation.
Other notable towns that performed well in the past financial year include Ruiru, Thika, and Juja, with Ruiru leading the unserviced land category with a 6.9 per cent capital appreciation.
Performance in the sector was mainly driven by relatively affordable selling prices, improving infrastructure, and positive demographics.
Additionally, serviced land offers greater investment opportunity due to easier accessibility to amenities such as water, drainage systems, and electricity, making it perform better compared to unserviced land.
Upper Hill was the most expensive place to buy land in Kenya, with an acre retailing for Ksh487.3 million.
