The latest Hass Land Price Index report unveils a compelling trend: land values in Nairobi’s satellite towns have skyrocketed over the past decade, presenting investors with lucrative opportunities for growth.
Since December 2007, land values in satellite towns surrounding Nairobi have increased by an impressive 11.79-fold, significantly outperforming the growth observed in the city’s central suburbs.
Investors who allocated funds into satellite town lands in 2007 have seen remarkable returns, with their investments now valued at approximately Ksh11.79 million for every million initially invested, indicating the superior performance of satellite town investments compared to other options.
Areas like Athi River, Kiserian, and Kitengela have experienced notable transformations, with land prices surging from an average of Ksh2.4 million in 2007 to an impressive Ksh28.8 million in 2024, driven by rising demand for residential and commercial developments.
Among the top-performing satellite regions in terms of value growth over the last decade are Athi River, Juja, Kiambu, Kiserian, and Limuru, with current land prices ranging from Ksh19.3 million to Ksh47.9 million per acre.
Quarterly price gains have been robust in areas like Kiserian, Limuru, and Ongata Rongai, recording increases of 7.8 to 9.4 percent. Notably, Kiserian stands out as the most affordable option among surveyed satellite towns, with land priced at Ksh11.2 million per acre.
Sakina Hassanali, Head of Development, Consulting, and Research at Hass Consult, highlights the resurgence of land as a competitive asset class, driven by satellite towns which have witnessed an average annual growth of over 10 percent.
In conclusion, investing in satellite town lands in Kenya presents a compelling opportunity for investors seeking steady returns and long-term growth potential in the evolving economic landscape.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
19th April, 2024
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