Kenyans seeking to own land in Nairobi satellite towns will have to dig deeper into their pockets after landowners hiked prices in Thika, Syokimau, and Ruaka towns.
According to Hass Property Index Report (2023) compiled by HassConsult, the price hike is partly due to the government’s commitment to improving road infrastructure in Nairobi suburbs and satellite towns.
HassConsult further noted that the satellite towns were benefiting from the ripple effect of Westlands' increasing commercialization.
“The recent rise of Westlands as the city’s premium commercial and entertainment hub has drawn more interest to its surrounding suburbs.
“This has created more value in these quiet neighbourhoods that provide quick access to Westlands working zones as well as services for shopping and recreation,” the report indicated.
Consequently, potential landowners have been forced to fork out up to Ksh136 million per acre in Nairobi satellite towns.
For instance, land prices in Thika have increased by 14.4 per cent from 2022 as investors continue to flock to the area.
An acre of land at Thika town average cost Ksh23 million with the cheapest piece of land being sold at Ksh12 million while the highest fetches Ksh30 million per acre.
Syokimau has benefited from the government’s infrastructural investment by the construction of the Nairobi Expressway Road which has facilitated easy access.
According to Hass Property Index Report, this has seen land prices increase by 17.5 per cent.
Averagely an acre in the town costs Ksh28 million with the minimum price being Ksh22 million while the maximum price of an acre is Ksh32 million.
Ruaka continued to be the most expensive satellite town in Nairobi and land rates increased by 10.5 per cent.
The Kiambu County-based satellite town has landowners selling an acre of land at an average price of Ksh98 million.
The minimum price for an acre in Ruaka is Ksh64 million while some landowners sell for as high as Ksh136 million.
