The prices of land in three suburbs and satellite towns within Nairobi County grew marginally in the first quarter of 2025.
HassConsult, a Kenyan real estate firm, in its Hass Land price indices survey report published on Tuesday, April 29, said that land prices in Ruaka, Lang'ata and Ridgeways rose by 0.1 per cent, 0.9 per cent and 1.6 per cent.
However, the report showed that land prices in most Nairobi Estates grew substantially, particularly in Kiserian, Juja and Thika, where land prices grew by 5 per cent and 4.6 per cent respectively.
In Kiserian and Juja, an acre of land was estimated at 12 million and Ksh24 million, while an acre of land in Thika was valued at Ksh30 million.
Other areas which recorded a hike in land prices include Lavington, Kileleshwa and Riverside, which saw price growth by 1.3 per cent, 2.8 per cent and 2.4 per cent. Lands in these towns were valued at Ksh265 million, Ksh321 million and Ksh348 million per acre, respectively.
Creative Director at HassConsult, Sakina Hassanali, while making the announcement, also listed Gigiri, Karen, Kilimani and Kitisuru among estates where the value of land grew.
Hassanali revealed that prices of lands in Gigiri, Karen and Kilimani increased by 2.8 per cent, 2.9 per cent and 1.2 per cent, respectively.
Similarly, land prices in Loresho, Muthaiga and Muthangari rose marginally between January and March. According to the survey report, land in these three towns rose by 2.1 per cent, 0.9 per cent and 1.9 per cent.
“Price affordability was a factor in the performance of the various satellite towns in land price movement in the quarter, showing rising sensitivity among buyers amid tougher economic conditions, as towns with a more affordable price entry point outperformed nearby areas with costlier land,” said Hassanali.
"The rising prices in these low-density zones show that developers are taking note of the higher sales price growth for detached houses compared to semi-detached units and apartments," she added.
The sudden hike in the prices of land in the first quarter of 2025 contradicts the previous quarter, between October and December last year, when most prices of land in most Nairobi towns depreciated substantially.
In the previous quarter, land prices in several Nairobi towns, including Gigiri, Kitisuru, Muthaiga, Ngong, and Kiambu, dropped due to factors such as economic uncertainty, which led some developers to postpone decisions to acquire more land.
The report also attributed the drop in land purchases in most towns to a tough economy, which triggered massive job losses and further high interest rates that affected land buyers.
