Ruaka has toppled Kiambu to become the town with the most expensive land in the outskirts of Nairobi. This is according to research done by property firm HassConsult.
The firm revealed that that the rising town has become a hotbed of commercial activity in recent times, with high demand of its land leading to increase of price by the day. The data shows that land in Ruaka is now going at an average of Sh 89 million per acre compared to Kiambu’s Sh39.7 million per acre – with the gap reaching almost Sh 50 million above the price of an acre in Kiambu town.
Price rate
While the price of land in both towns has increased almost four fold in the last ten years, the price of land in Ruaka now rivals several of Nairobi’s expensive suburbs including Karen, Runda, Loresho, Kitisuru and Ridgeways. Other emerging towns striving for the top spot in recent times include Mlolongo where an acre is going at an average Sh 27.8 million. For Ruiru in Kiambu County, an acre is goes for an average Sh 25.6 million while land in Tigoni goes for Sh 23.9 million per acre.
Limuru and Ongata Rongai are the other main contestants where the price of an acre goes at an average Sh 23.2 million. Juja, Athi River and Kiserian are slowly picking up the pace where an acre is now going at average of Sh 14.6 million, Sh13.7 million and Sh 7.3 million respectively.
“The report is cast against the background that land value in Nairobi’s environs has increased 8.98 fold since December 2007. The average value for land has gone from 2.4 million in December 2007 to 21.9 million in September 2020,” reported the firm.
The research also shows that satellite towns like Rongai recorded the highest increase over the third quarter of this year and on an annual basis at 4.71% and 10.3% respectively. Kiambu town, however, posted the biggest drops both quarterly and annually at 5.2%. Ruiru commands the largest share of the land market at 15.3% while Thika takes 8.9%, followed by Ngong at 8% and Ongata Rongai at 7.7%. Ruaka and Tigoni command the least share at 2.7% and 1.1% respectively.
