Nairobi Land Price Index: Realtor HassConsult has released the latest prices of plots in Nairobi estates. According to the report, over the last six years, Muthaiga and Donholm have recorded the sharpest increase in land price.
An acre of land in Muthaiga has gone up by 71 percent since 2015 to Sh. 185.2 million today. In Donholm, the price of an acre of land has risen by 48 per cent to Sh. 70.8 million. This puts the price of a plot at about Sh. 8.8 million in Donholm and about Sh. 23 million in Muthaiga.
In Lang’ata, the cost of an acre has increased by 30 per cent to Sh. 63.5 million, Spring Valley and Karen have both appreciated by 23 per cent to Sh. 174.5 million and Sh. 62.3 million respectively. In Kitisuru a 20 per cent increase in the price of an acre to Sh. 89.8 million has been recorded. When converted to plots, these figures suggest that plots in Langa’ata have increased to about 7.9 million per plot. In Spring Valley, a plot has increased to about Sh. 22 million, Karen to about Sh. 7.7 million and Kitisuru to about Sh. 11 million.
The price of land in Parklands, Upper Hill, and Riverside has however shrunk over the last six years. Nonetheless, Upper Hill still has the highest cost per acre at Sh. 509.9 million or approximately Sh. 64 million per plot. Westlands follows with Sh. 420.2 million or approximately Sh. 53 million per plot. In Parklands, an acre is going for Sh. 378.5 million or about Sh. 48 million per plot. In Riverside, an acre is priced at Sh. 343.9 million or about Sh. 43 million per plot. Kileleshwa is still a prized area with an acre going for Sh. 301.4 million or approximately Sh. 38 million per plot. Nairobi Land Price Index.