Thika Road property prices in sharp rise
An estate on Thika Road. PHOTO | FILE
What you need to know:
- Juja, a fast-growing town 32.5 kilometres from Nairobi, was also the best performing satellite town on an annual basis, with land values appreciating by 51 per cent last year.
- Mombasa Road continue suffering the effects of traffic congestion on the key international trade artery.
- In contrast, Mlolongo on the outskirts of Nairobi on Mombasa Road has been rated the worst performing satellite town, with average asking prices falling by 1.47 per cent in the fourth quarter.
Propert prices on Thika Road have escalated while those on Mombasa Road continue suffering the effects of traffic congestion on the key international trade artery.
This is according to the latest property index and Nairobi land price index released by real estate firm Hass Consult.
Land prices in Juja recorded the highest increase in the fourth quarter, with the average asking price for an acre rising by 6.3 per cent.
Juja, a fast-growing town 32.5 kilometres from Nairobi, was also the best performing satellite town on an annual basis, with land values appreciating by 51 per cent last year.
In contrast, Mlolongo on the outskirts of Nairobi on Mombasa Road has been rated the worst performing satellite town, with average asking prices falling by 1.47 per cent in the fourth quarter.
It is followed by neighbouring Athi River, which saw a 0.2 per cent drop in the same period.
Hass Consult Research and Marketing Manager Sakina Hassanali said the drop in prices in Mlolongo and Athi River is attributed to their heavy congestion, compared with other satellite towns.
