Are you looking for land in Nairobi’s high-end estates within a low budget?
Look no further, Karen is the place to be.
According to a new real estate report released recently, Karen suburbs offers the lowest prices for an acre of land compared to other suburb estates.
An acre of land in Karen goes for Sh52 million against a market average of Sh87 million for an acre going by Cytonn Investments’ latest report released this week as quoted by Business Daily.
Karen, revealed the study, is among low residential suburbs that recorded the highest increase in price or value of asset at 12.2 per cent since 2011 when an acre of land would, then, go for Sh25 million.
Nairobi’s high-end Spring Valley is the most expensive with an acre of land going for Sh154 million followed by Nyari Sh109 million.
Other suburbs where land is relatively expensive includes Kitisuru (Sh70 million), Runda (Sh68 million) and Ridgeways (Sh68 million).
National Construction Authority Chairman Steven Oundo noted that in places where development is rife, the need for social services such as schools and hospital is immense and Karen is managing all this.
The wealthy elite in the country have lately showed their inclination towards investing in multi-million projects in Karen including construction of malls and offices.