This archive report was first published on 25 November 2019.
Published on November 25, 2019, a new report by Cytonn Investment highlights the significant growth of land prices in Embakasi, Nairobi.
According to the Nairobi Metropolitan Area Serviced Apartments report, land prices in Embakasi rose by 115.1% from 2011 to 2018, with one acre increasing from Sh33 million in 2011 to Sh71 million in 2018.
The growth is attributed to the construction of the Eastern Bypass and Outer Ring Road, which has improved accessibility and increased property values in the area.
Additionally, the planned dualling of the Eastern Bypass and the issuance of over 20,000 title deeds to Embakasi Ranching Company shareholders are expected to further boost property prices in the area.
Meanwhile, in Kasarani, land prices also increased by 100% to Sh64 million from Sh32 million in the same period, driven by the upgrade of the Nairobi-Thika Highway.
Analysts argue that investments in transport infrastructure will spur more developments and boost property prices in the areas, while the repeal of the interest rate cap is expected to benefit mortgage borrowers and land buyers.
