Land prices in Kenya are generally appreciating, even in the most remote of places. Historically land prices have defied the toughest economic times and even the recent electioneering period.
Land in Kenya has for a long time defied political risk which is short-term but the price trends for the financial year 2017 revealed that the land prices no longer defy political risk resulting in growth rates falling as uncertainty gripped the market towards the end of last year.
Land prices in some areas have stagnated or appreciated by just a little bit over years but some areas have appreciated almost triple within the last 3-4 years, for example, an acre of land in Kitengela five years ago was Ksh2-3 million and now it is Ksh10-12 million.
Land appreciation rates have stabilized now that the electioneering period is over and below is a list of areas in Kenya with the highest land appreciation rates.
AREA AVERAGE PRICE PER ACRE (Kshs) ANNUAL LAND APPRECIATION RATE (%)
Ruaka 83,100,000 5.32
Syokimau 21,100,000 4.21
Thika 18,000,000 2.89
Tigoni 21,600,000 3.0
Athi River 11,700,000 2.6
Juja 11,400,000 2.42
Kiambu 43,900,000 3.6
Kiserian 7,300,000 1.8
Kitengela 11,300,000 2.1
Limuru 20,500,000 3.1
Mlolongo 24,600,000 3.26
Ngong 19,000,000 2.9
Ongata Rongai 18,900,000 2.8
Ruiru 23,200,000 3.15
Figures courtesy of Cytonn, HassConsult, Business Daily
