Satellite property prices feel the squeezy of the economy

Rise in economy and expansion of markets for business has continued to shrink the real estate market(Xinhua/Han Xu) (Photo by Han Xu / XINHUA / Xinhua via AFP)

Persistent economic pressures have weighed down on real estate valuations for satellite towns, with areas such as Ngong recording negative growth in both property prices and rental yield.

Latest data from real estate consultancy HassConsult shows land prices in Ngong dropped 5.8 per cent in the last one year while property prices also shifted downwards by six per cent.

Premium Article

Get Full Access for Ksh299/Week.

Satellite property prices feel the squeezy of the economy

Other newsrooms on this story

Related reading

Satellite towns: Magnet for property investors seeking affordable land

Homes, land price boom in Nairobi outskirts ends

Why Cape Town property prices are driving buyers away

Karen and Lang’ata lead Nairobi land price growth

Buyers push back as Cape Town property prices soar

Prices for standalone houses soar as Nairobi apartments lose value