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Monday, December 6, 2021

Lang’ata Homes Record Sharp Price Jump

According to a survey provided by real estate management firm Hass Consult, Lang’ata residences saw the largest annual sales price increase of 10.3 percent.

The cheapest price point for city houses is Sh 34.5 million in Lang’ata.

“While other Nairobi neighborhoods experienced very modest up and down movements, Houses in Langata experienced abnormal property price movements of 4.1 percent in the quarter and 10.3 percent in the year in a market that is currently driven by affordability.”

Loresho houses saw a 7.6% increase, with Muthaiga at 6.3 percent, Kitisuru at 5.6 percent, and Kileleshwa at 4.9 percent following.

Overall, property sales prices in 2021 remained stable, with a 0.1 percent reduction over the quarter and a 1.7 percent drop from June 2020, according to the data.

The decline was attributable to huge annual drops in housing prices in Kilimani and Kileleshwa of 9.5 and 6.9 percent, respectively.

Economic stagnation, according to Sakina Hassanali, Head of Development Consulting and Research at HassConsult, has mostly plagued the middle market with salary cuts, unemployment, and small business burnout.

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