The rent prices in real estate in Langata, in the Nairobi region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per m² in Langata has had a strong fall during the last 6 months. In February, the average price per m² was KSh 309.32. In the following month the price per m² rose to KSh 351.77. In the following two months the price per m² has practically remained the same, going from KSh 330.55 to KSh 316.9 per m². The price per m² has had a considerable fall of 43 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of KSh 323.72 to KSh 139.07 during June, and July.
When referring to the price in Langata (constituencies & towns), this has fallen considerably in the last 6 months. The average price during our first sample month during February, is KSh 91,975. During March the price went through a considerable rise reaching KSh 106,283. During the following two months (April, May) the average price had a considerable fall of 82 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from KSh 90,190.25 to KSh 53,150, which means a 59 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of KSh 48,850 they are 78 % more affordable than the average price for Langata . The properties with the highest average price have 4 bedrooms, Their price is 77 % more expensive than the average. After that we have properties with 2 bedrooms priced at KSh 38,417.
With regard to the average price per m², those properties with 3 bedrooms are the most expensive ones at a cost of KSh 123.19 / m², with an average KSh 111 / m² price in Langata. The properties with the most expensive average prices have 2 bedrooms. They are 165 % more expensive than the average followed by properties with 1 bedroom with a price at KSh 237.8 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of KSh 48,850 it is 22 % more affordable than the average price in Langata. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "Commercial Property". At a price of KSh 191,615 it is 327 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of KSh 91.7 / m² followed by "Apartment" priced at KSh 395.73 / m². "Commercial" is the most expensive type of property with a KSh 740 / m² value followed by "Commercial Property" with an average price of KSh 650 / m².