Landlords seeking higher rents after lengthy election season slump
Landlords are asking for higher rent from semi-detached units, as total returns from property investments continue on an upward trend, in the second quarter of 2018. mHassConsult says that total returns, which comprise rental yields and property price increases, rose to 11.4 per cent over the quarter, nearly three times the 4.3 per cent that was recorded over the same period a year ago. The double digit growth in total returns is driven by the escalation of rent, as landlords are taking the opportunity to charge higher rents, following a return to confidence in the property market. In Nairobi, Kitisuru led in house rents' increments going up by 2.7 per cent during the quarter, while Langata posted the highest rent price increases in the apartment segment, at 3.7 per cent.
Wed Jul 11 00:09:05 EAT 2018