According to the latest data from HassConsult on the Property Index, some suburbs in Nairobi recorded an increase in the cost of houses.
The report released on February 1, 2023, indicated that most of the suburbs in the capital recorded an increase in the cost of housing over the past year.
Nyari Estate was among the list of 16 suburbs featured in the report. Others were Donholm, Gigiri, Karen, Kileleshwa, Kilimani, Kitisuru, Langata, Lavington, Loresho, Muthaiga, Ridgeways, Runda, Spring Valley, and Westlands.
"House pricing in these areas has benefitted from house price appreciation due to strained supply caused by planning laws," stated Sakina Hassanali, head of Development Consulting and Research at HassConsult.
Taking a look at Nyari Estate located along Red Hill Drive, its housing index recorded a 2.3 per cent increase in house prices compared to the third quarter of 2022.
According to the report, houses in Nyari and Muthaiga had among the largest gains in pricing at 11.2 per cent and 6.2 per cent respectively in 2022.
"Both Nyari and Muthaiga are beneficiaries of low-density housing," read the report in part.
In addition, the exclusive estate recorded an 11.2 per cent increase in 2022 compared to 2021 and the housing prices in the area increased 1.74-fold in the last 10 years.
The posh estate offers various housing options for aspiring homeowners. They range from three bedrooms to seven bedrooms.
According to several realtors, the houses' prices range between Ksh90 million and Ksh180 million or more depending on the house's features.
Some of the features in some of the spacious houses include electric fences, CCTV cameras around the house, and well water, among other amenities.
The estate is populated with magnificent mansions sitting on sprawling and well-manicured compounds with amenities such as swimming pools.
Additionally, the houses are high-end bungalows or mansions with spacious outdoors.
