Land prices in six satellite towns around Nairobi rose by double digits last year, giving holders an annual return that matched those on high-yielding government bonds that were the preferred option for investors in a difficult investment market.
New land price data compiled by realtor HassConsult shows that the price of an acre in Ngong appreciated by 21.4 percent in 2023 to Sh35 million, while in Thika, an acre rose by 17.8 percent to Sh27.2 million. In Syokimau, the price of an acre of land appreciated 15.8 percent to Sh32.7 million in 2023.
