Demand for land in Nairobi dictated prices in various satellite towns between July and September, according to the latest report released by HassConsult on Wednesday, November 9.
Compared to the second quarter, where satellite towns recorded a historic rise, the third quarter recorded a mild drop.
During the period under review, Syokimau recorded the highest jump in land prices. The area recorded 6.8 per cent increase.
Syokimau was also the best-performing town annually, with prices improving by 20.1 per cent.
"Syokimau town for instance, is now more accessible following the opening of the Nairobi Expressway over the quarter," Sakina Hassanali, Head of Development Consulting and Research at HassConsult, stated.
In the second quarter, the price of land stood at Ksh25 million per acre but increased between July to September, hitting Ksh27.7 million per acre.
The report also revealed that the increasing demand for land and property in satellite towns was easing pressure on Nairobi suburbs such as Ridgeways, Spring Valley, Upper Hill and other areas.
The satellite towns sampled in the HassConsult report included Athi River, Juja, Kiambu, Kiserian, Kitengela and Limuru.
Others included Mlolongo, Ngong, Ongata Rongai, Ruaka, Ruiru, Syokimau, Thika and Tigoni.
Prices Breakdown
Between the period under review, an acre of land in Athi River stood at Ksh16.2 million. Between April and June, an acre of land retailed at KshKsh15.8 million, marking a 2.6 per cent increase.
In Juja, the price stood at Ksh18.8 million, marking a 1.2 per cent increase from Ksh18.5 million in the previous quarter.
Kiambu recorded the highest jump of 6.1 per cent to hit Ksh44.7 million. Between April and June, an acre was Ksh42 million.
An acre in Kiserian stood at Ksh10 million, while it stood at Ksh14.4 million. In Mlolongo, an acre stood at Ksh33.2 million.
In the last quarter, an acre of land stood at Ksh22 million, but in the latest quarter, it dropped by 2.8 million to hit Ksh21.3 million. The report, however, did not reveal why prices dropped in Limuru.
Ongata Rongai and Tigoni also recorded a dip in land prices. In Ongata, prices dropped from Ksh27 million to Ksh26 million, while in Tigoni, from Ksh29.3 million to Ksh29 million.
In Ruaka, an acre stood at Ksh96.9 million, becoming the most expensive satellite town to acquire land in all 14 satellite towns.
In Ruiru, it stood at Ksh28.5 million, Syokimau, Ksh27.7 million while in Thika, an acre of land stood at Ksh22.3 million.
