HassConsult released the fourth-quarter 2024 Land Price Indexes, highlighting a significant slowdown in land price growth across Nairobi’s satellite towns, marking the lowest increase since June 2023. According to Sakina Hassanali, Head of Development Consulting and Research at HassConsult, the tough economic conditions witnessed in the country contributed to the slowdown in growth. “Periods of economic uncertainty and slowing GDP growth can lead to some developers putting off decisions to acquire land, thus reducing demand, which drives prices higher,” explained Hassanali.
Land prices in Nairobi suburbs
According to the composite land index, land prices in Nairobi’s suburbs grew by 1.7% in the fourth quarter of 2024, up from 1.6% in the third quarter, with Parklands (3.4%), Upperhill (3.3%), Spring Valley (3.1%), and Kileleshwa (3.0%) recording the highest price appreciation. Below is a list of Nairobi suburbs and satellite towns and the land prices per acre Nairobi Suburb Average price per acre (KSh) Nairobi Satellite Towns Average price per acre (KSh) Gigiri 243,400,000 Athi River 20,200,000 Karen 69,000,000 Juja 23,100,000 Kileleshwa 312,300,000 Kiambu 49,600,000 Kilimani 410,000,000 Kiserian 12,000,000 Kitisuru 98,200,000 Kitengela 17,800,000 Langata 86,800,000 Limuru 24,600,000 Lavington 262,500,000 Mlolongo 43,700,000 Loresho 110,400,000 Ngong 35,900,000 Muthaiga 233,200,000 Ongata Rongai 28,100,000 Muthangari 384,700,000 Ruaka 111,200,000 Nyeri 116,000,000 Ruiru 35,600,000 Parklands 448,700,000 Syokimau 37,800,000 Ridgeways 92,200,000 Thika 28,900,000 Riverside 340,400,000 Tigoni 33,400,000 Runda 93,300,000 Spring Valley 278,300,000 Upperhill 522,700,000 Westlands 487,300,000
by Elijah Ntongai
