This archive report was first published on 15 May 2020.
Nairobi's Most Expensive and Cheapest Estates Revealed ¶
Published on May 15, 2020
Nairobi's Gigiri suburb is home to the most expensive houses in the capital, with an average price of Sh119.3 million, according to a new survey by HassConsult Real Estate. The suburb, which neighbours the United Nations complex, is followed by Nyari estate at Sh103.6 million, making it the second most expensive in the city.
On the other hand, Kitengela emerged as the least expensive neighborhood in the three months to March, with an average house price of Sh11.1 million. The area is one of the satellite towns in Nairobi that has proven popular with Nairobi's working class seeking affordable accommodation.
The survey also shows that the home prices, on average, recorded a marginal drop of 0.02 percent compared to a rise of 3.3 percent in the same quarter last year. HassConsult expects a further fall in prices in the current quarter ending in June due to the effects of the Coronavirus pandemic.
Other high-end suburbs that bucked the trend to record an increase in prices include Runda, Karen, and Kitisuru. The high-end suburbs generally recorded an increase in prices ranging from 0.2 percent in Runda to 4.3 percent in Nyari.
Strict zoning laws play a big role in protecting the value of houses in high-end estates by preventing encroachment by apartment blocks and unplanned developments. The area is also served by several large malls, including the Village Market, Two Rivers, and Rosslyn Riviera.
Access to international schools, shopping malls, and recreation facilities have also helped push up demand for houses in the estates neighbouring the UN diplomatic zone. The area is within easy reach of several international schools, including the International School of Kenya, German School Nairobi, and Centum's recently opened Sabis International School in Runda.
