Real Estate

The government has announced plans to build 10,000 affordable houses in Nairobi’s Industrial Area. The State Department of Housing and Urban Development said the units will be constructed on a 56-acre parcel of land that was recently recovered from grabbers. The land was originally owned by the Kenya Meteorological Department but was transferred to five private companies in 2005 until recently when...

A newly released real estate report has listed the most expensive and cheapest estates to buy a home within the Nairobi metropolitan area in the three months to March 2020. The HassConsult Real Estate report released this week names upmarket Gigiri estate as the most expensive place to purchase a property with a stand-alone house in this area going for an average price of a staggering Sh119.3...

Kenya’s housing market is cooling rapidly, amidst falling demand caused by constrained credit access, coupled with the continued oversupply of high-end residential developments. During the year to Q3 2019, the Hass Composite Property Sales Index, a measure of asking sales prices of residential properties, fell by 3.4%, in sharp contrast to a y-o-y rise of 8.1% during the same period last year, based...