On 30th July 2024, real estate firm HassConsult released a report on land prices for the second quarter of 2024. The report noted a 1.8% increase in land prices in Nairobi due to a rise in demand for commercial development land.
This quarter’s growth of 1.8% was higher than the 1.3% increase from the previous quarter. In 2018, land prices in Nairobi’s Upper Hill area were approximately Sh. 560 million.
Nairobi’s satellite towns saw an average increase of about 2.2% in land prices per acre, which is a slowdown from the 3.03% rise in Q1. Over the past three years, areas like Ngong and Ongata Rongai have experienced some of the fastest-growing land prices.
“The rise in satellite towns can be attributed to accelerated urbanisation, which has bolstered demand and pushed up asking prices,” HassConsult noted in their report.
Courtesy of the ever-growing population and the increasing demand for land, the trend of rising land prices is expected to continue for a few more years. This is one of the most opportune seasons to invest in property in Kenya, particularly in areas around Nairobi.
First and foremost, Kenyans have just experienced one of the heaviest rainy seasons in the country’s history. While many believe that buying land during the rainy season has more drawbacks than benefits, savvy investors know that this is the perfect time to make a purchase.
Purchasing land during or shortly after the rainy season gives you insights you wouldn’t gain during the dry season. Visiting the property in these conditions helps you fully understand its potential and any challenges it might present.
Some benefits of purchasing land during this time include checking drainage and flood risks, assessing soil quality, identifying water sources, having better negotiating power, testing accessibility, and gaining environmental awareness.
For a land buyer, this timing is a big win, especially with the knowledge that land prices in Nairobi’s surroundings are always increasing.
However, while land rates and the rainy season are big factors, it’s equally important to have the land professionally surveyed and the title deeds inspected, no matter when you decide to buy.
How to avoid being conned when buying land in 2024
Alternatively, you can reach out to a reputable real estate company for affordable, fully serviced land in Nairobi’s satellite towns. AMCCO Property Limited is a top choice for simplifying your land and property search, whether it’s for commercial, speculative, or residential use.
It’s time Kenyans accepted that the old ways of buying and selling land are slowly becoming obsolete. There have been too many fraud cases especially when dealing with Nairobi and its satellite towns properties.
Professional realtors like AMCCO are stepping in, digitizing systems to make finding property easier and more convenient for everyone. AMCCO offer properties in Kikuyu and along Ngong Road. They include:
- Ngong Springs along Ngong-Suswa Road – Sh. 600,000
- Rift View Estate in Ndeiya – Sh. 750,000
- Sunset Ridge in Kamangu – Sh. 1.1 million
- Fahari Gardens in Thigio – Sh. 1.3 million
- Royal Gardens in Kamangu – Sh. 1.4 million
- Silver Crest, Phases I & II in Thigio – Sh. 2 million
All these areas offer fully serviced 50 x 100 plots, close to many amenities and social services. Plus, the title deeds are ready, and the AMCCO team guarantees that customers get great value for their money.
This land has been thoroughly checked and is ideal for residential, commercial, or speculative use. AMCCO also offers free site visits to any plots you’re interested in. Why should discovering your dream land parcel be a hassle when you can contact AMCCO?
To see some of AMCCO’s properties, follow this link. You can also reach out to AMCCO via 0711082083 or 0701293199.
