Most expensive estates in Nairobi
By Philip Mogendi Ondieki - 2020-05-16 07:14:35 - [General]
Nairobi’s Gigiri suburb is home to the most expensive houses in the capital as Kitengela emerged as the least expensive neighbourhood in the three months to March, a new survey shows while also indicating that on average, property prices fell for the first time in over a decade.
On average, homes cost about Sh119.3 million in Gigiri, which neighbours the United Nations complex, while stand-alone homes of more than four-bedrooms cost an average of Sh11.2 million in most other areas of the city.
The price guide is contained in a report by HassConsult Real Estate which 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.
The consultancy firm expects a further fall in prices in the current quarter ending in June as the effects of the Coronavirus pandemic — which have led to job losses and closure of some firms — depressed demand for property.
HassConsult lists average house prices in Nyari estate at Sh103.6 million, making the neighbourhood the second most expensive in the city. Nyari is followed by Runda (Sh92.1 million), Karen (Sh88 million) and Kitisuru (Sh84.3 million)
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