Jimmy Gathu
New Lister
The cost of an acre of land in Nairobi has surpassed Ksh200 million, according to Hass Consult's Land Price Indices. During the third quarter of 2024, land prices in Nairobi’s suburbs increased by 1.6%, while those in satellite towns grew by 3.02%. The average price per acre in Nairobi rose to Ksh201 million, up from Ksh194 million in the previous quarter. Among the suburbs, Parklands led with a 3.4% price increase, bringing the average cost to Ksh434.2 million per acre. Langata and Kileleshwa also recorded notable gains of 2.9% and 2.8%, respectively.
Figure 1: Land price index for last quarter of 2024
In Nairobi’s satellite towns, Mlolongo, Thika, and Kiserian showed significant growth in land prices, increasing by 6.6%, 6.3%, and 4.7%, respectively. Mlolongo benefited from improved city access via the Nairobi Expressway, coupled with sustained demand from its mix of residential and industrial developments. Thika’s growth was fueled by Kiambu County’s new master plan to transform the town into an industrial smart city. This plan, which includes new roads to open up surrounding areas for development, has driven demand as developers anticipate increased housing and commercial opportunities.
Kiserian’s land prices rose by 4.3%, reaching Ksh11.8 million per acre. Meanwhile, satellite towns like Juja, Ongata Rongai, Syokimau, and Kitengela continue to attract residents from the Nairobi Metropolitan area. Syokimau and Limuru recorded the highest annual growth rates of 18% and 18.1%, with land prices at Ksh36.6 million and Ksh23.9 million per acre, respectively. This trend reflects a shift toward more affordable property and rental prices in satellite towns compared to Nairobi’s traditionally high-cost suburbs.
Figure 2: Land Prices in Satellite Towns
Rental prices mirrored this trend. Most suburbs in Nairobi experienced modest increases, such as Ridgeways, Westlands, and Kileleshwa, with growth between 0.7% and 1.3%, except for Gigiri, which saw a 0.8% decline. However, the overall rise in rental prices was more pronounced in satellite towns, reinforcing their growing appeal.
This rise comes despite announcement by government to have lost 366 title deeds from government printer. In a gazette notice published on Friday, September 27, the office of the Chief of Staff and Head of the Public Service, said the title deeds with serial numbers ranging from 5253001 to 5253367 could not be accounted for. Consequently, the government has revoked the listed titles, rendering them null and void. The notice further indicates that the government will not be responsible for anyone who conducts business with the said title deeds. Land is ever increasing in value; it is a safe investment opportunity.
Figure 1: Land price index for last quarter of 2024
In Nairobi’s satellite towns, Mlolongo, Thika, and Kiserian showed significant growth in land prices, increasing by 6.6%, 6.3%, and 4.7%, respectively. Mlolongo benefited from improved city access via the Nairobi Expressway, coupled with sustained demand from its mix of residential and industrial developments. Thika’s growth was fueled by Kiambu County’s new master plan to transform the town into an industrial smart city. This plan, which includes new roads to open up surrounding areas for development, has driven demand as developers anticipate increased housing and commercial opportunities.
Kiserian’s land prices rose by 4.3%, reaching Ksh11.8 million per acre. Meanwhile, satellite towns like Juja, Ongata Rongai, Syokimau, and Kitengela continue to attract residents from the Nairobi Metropolitan area. Syokimau and Limuru recorded the highest annual growth rates of 18% and 18.1%, with land prices at Ksh36.6 million and Ksh23.9 million per acre, respectively. This trend reflects a shift toward more affordable property and rental prices in satellite towns compared to Nairobi’s traditionally high-cost suburbs.
Figure 2: Land Prices in Satellite Towns
Rental prices mirrored this trend. Most suburbs in Nairobi experienced modest increases, such as Ridgeways, Westlands, and Kileleshwa, with growth between 0.7% and 1.3%, except for Gigiri, which saw a 0.8% decline. However, the overall rise in rental prices was more pronounced in satellite towns, reinforcing their growing appeal.
This rise comes despite announcement by government to have lost 366 title deeds from government printer. In a gazette notice published on Friday, September 27, the office of the Chief of Staff and Head of the Public Service, said the title deeds with serial numbers ranging from 5253001 to 5253367 could not be accounted for. Consequently, the government has revoked the listed titles, rendering them null and void. The notice further indicates that the government will not be responsible for anyone who conducts business with the said title deeds. Land is ever increasing in value; it is a safe investment opportunity.