NAIROBI, Kenya, Jan 22 – Land prices in Nairobi’s satellite towns grew at the slowest rate since June 2023, with average price growth declining to 1.9 percent in Q4 2024, down from 3.02 percent in Q3, according to HassConsult.
Nine of 14 tracked towns saw decelerations, led by Thika and Mlolongo, which dropped to 0.9 percent and 1.1 percent growth, respectively. Kiambu and Ngong recorded negative growth at -0.3 percent and -0.2 percent.
Economic challenges, high interest rates, and job losses have dampened demand, impacting previously robust growth fueled by property developers.
Infrastructure-led price hikes in towns like Syokimau and Kiserian are also cooling.
In suburbs, land prices grew steadily at 1.7 percent, led by Parklands (3.4 percent), Upperhill (3.3 percent), and Kileleshwa (3 percent).
