Kiserian posts highest gains on land prices

Kiserian town registered the highest returns on land in the year ending September 2015 according to the Hass Property Index report.

The third quarter Hass Property Index says that on average an acre in Kiserian appreciated by 22.8 per cent between September 2014 and September 2015 making it the hottest market amongst 14 satellite towns that make up the index.

An acre in the satellite town had an asking price of Sh5.8 million as at the end of September 2015.

Property prices in these satellite towns are mostly being driven by demand from investment groups and land buying companies.

“The attractive returns on land in these satellite towns has become a key driver of demand which has now become the new revenue stream for thousands of investment groups, co-operative societies, SACCOs, learning institutions and individual investors,” said Hass Consult head of research and marketing Sakina Hassanali.