The value of residential property in Kenya is growing rapidly, in particular due to the stable economic growth and increasing population of middle-class and expats. Since 2000, II quarter 2016 the cost of housing in the country has increased 4.34 times, according to international real estate portal Global Property Guide with reference to data of consulting company Hass Consult.
For the year to the end of II quarter of 2016, the total price index the Hass Composite Property Sales Index increased by 16.6%, after annual growth of 14.6% in the first quarter of 2016, and by 9.6% in the fourth quarter and by 7.5% in the third quarter of 2015.
In June 2016 the average cost of residential property in Kenya was $307 100. For comparison, in December 2000, the figure was $70 110. The average price of the object two-bedroom is $139 233, and the object with four-six bedrooms – $470 034.
The greatest growth was for detached homes (+5.2 percent), followed by apartments (+3.6%), and townhouses (0.7 percent).
Most prices rose in the suburbs of Nairobi Langata (+17,6%), followed by Karen (+16,6%), Gigiri (+12,4%), Muthaiga (+11.1 V). Prices fell in the capital's suburbs of Kilimani (-5,4%) and Denholm (1.6 million%).
The HassConsult index was based on data from between 4,000 and 6,000 residential units across Kenya and the information is provided by many real estate agencies, as well as taken from open Internet sources.
HomesOverseas.ru
