A Swahili-themed mansion on Mbagathi Ridge Road in Nairobi is currently in the market with Ksh225 million set as the offer price.
Located on Mbagathi Ridge Road, the family home is described as "a combination of mindful planning and stylish design, set against the backdrop of mature trees".
The design, architecture, and aesthetic of the house depict a heavy Swahili influence.
The main house is double storey with accommodation spread over 2 floors. The ground floor comprises a foyer that showcases both Indian and Swahili design.Swimming pool area at the mansion on Mbagathi Ridge road.File
In addition, this floor has a dhobi, kitchen with an island, dining and a raised seating area with a fireplace, visitor’s cloakroom, small TV snug room, lounge with a fireplace opening onto an expansive covered terrace.
The terrace has a fireplace that overlooks a forested yard. The ground floor also features an office & study as well as 2 bedrooms sharing a bathroom.
The first floor comprises a master bedroom complete with a balcony, a walk-in wardrobe, and an ensuite bathroom with a bath, shower, and cloakroom.
A new wave of property development is pushing up the prices of homes to new highs in Nairobi.
House prices in the capital city's high-end market are known to border on what can be termed by most as over-the-top.
The famous House No 12 on Magnolia Hill in Kitisuru sold for approximately Ksh650 million.House 12 in Magnolia Hills Kitisuru.File
According to ArchDatum magazine, the design and construction of the building were handled by celebrated architect Mehraz Ehsani and was completed in early 2014.
Zana Development Marketing, which marketed the property, in an article indicated that the interior designer (Ehsani) created the building as a family home
A quick look at mansions on sale in Kenya reveals an average price of Ksh 180-579 million.
In Muthaiga, there are several such pricey properties, especially flat land which is rare. There is also the Golden Luxury Villas development, in Mambrui near Malindi and others in Nanyuki.
However, the pandemic has shifted the landscape with several mansions and bungalows being auctioned over loan defaults.
Research also shows that every year, the pool of buyers spending over Ksh 100 million on a house reduces as they move on to other investments. Their waning appetite is proving a hugely expensive exercise for owners.
Unsold homes in areas such as Muthaiga could cost the seller over Ksh 50,000 every month in maintenance, which includes paying for security, electricity, and garden-care among others.
Over the past few months, prices of luxury homes have dropped. For instance, those located in Muthaiga have come down by at least 30%. Old houses go for about Ksh 75 million to Ksh 80 million but buyers cherry-pick the best based on many factors including cost of renovation.One of the bedrooms in the house on Mbagathi Ridge Road.File
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