House rents increase fastest in nine years

Sakina Hassanali, HassConsult head of development, consulting and research. FILE PHOTO | NMG

What you need to know:

  • HassConsult’s 2018 property index indicated a sharp recovery in rental asking price for apartments in Nairobi in the last quarter of last year boosting the annual growth to 15.9 percent.
  • This outpaced the annual rental growth for semi-detached and detached houses, which stood at 12.6 percent and 3.7 percent respectively.
  • While rental yields rose sharply however, growth in sale prices for apartments remained relatively low, at just 2.9 per cent.

Apartment rental prices last year rose at the fastest pace in nine years, boosted by double-digit increase in Nairobi’s Westlands, Langata, Parklands and Ruaka yields as the gap between demand and supply closed.

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