and prices continue to drop slightly in both the suburbs and satellite towns in Nairobi, according to Hass Land price indices for the second quarter of 2020.
The report which showed the performance of land and properties in various parts of the city, indicated that while some land areas experienced a depression in value others emerged to be more lucrative.
On average the value of land increased from Ksh 30.3 million in December 2007 to Ksh190.7 million in June 2020 which means that Ksh1 Million invested at the end of 2007 would have raked in Ksh8.98 Million if invested in land in Nairobi Satellite towns and Ksh6.30 Million if invested in land in Nairobi Suburbs.
In the surburbs, Donholm area was pointed out as having registered the highest quarterly increase in 2020 land prices at 2.76% while Ongata Rongai was top in satellite towns at 1.26%.
Land prices in Gigiri increased by 1.2%, Kitisuru 0.5%, Runda 0.3% and Muthaiga 0.2%.
As for satellite towns, the biggest gains after Ongata Rongai were Mlolongo 0.5% and Kiserian at 0.4% increase.
{full article here}
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