Editor's Review

Conversely, landlords in Gigiri, Athi River and Juja increased rent by over 5 per cent.


A report by HassConsult has revealed that landlords have reduced rent prices in 10 estates within Nairobi and its satellite towns.

In the report published on Wednesday, January 22, the highest rental price drop was witnessed in Nyari estate.

The report covering real estate trends between October to December 2024, detailed that rent for houses in the posh estate dropped by 2.4 per cent.

Estates where house rent prices also dropped were Muthaiga (1.4 per cent), Westlands (0.9 per cent), Runda (0.5 per cent), Karen and Kileleshwa at 0.4 per cent.

Likewise among the satellite towns, rent for apartments dropped in Ngong by 2.4 per cent.

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File image of Ngong Town.

Rent in Tigoni dropped by 1.5 per cent while rent in Kiserian dropped by 0.8 per cent.

Nonetheless, despite the slight drop in rent within the 10 estates, there was a significant increase in other estates.

Conversely, landlords in Gigiri, Athi River and Juja increased rent by over 5 per cent.

"On the rental market, asking prices rose by 0.2 per cent in the fourth quarter, reversing the 0.6 per cent decline seen in the third quarter" read the report in part.

"The quarterly recovery in rents was led by Gigiri and Juja, which recorded rental price increases of 6.7 and 6.4 per cent, respectively. In the apartment segment, Ongata Rongai and Parklands led with quarterly gains of 3.4 per cent and 3.3 per cent respectively."

HassConsult explained that many landlords opted to increase rent within the fourth quarter of 2024 given that the economy had begun to recover.

“The recovery in quarterly rental prices coincided with falling inflation, which improved tenants' purchasing power and gave landlords room to adjust rents upwards,” Sakina Hassanali, the Head of Development Consulting and Research at HassConsult explained.