The rent prices in real estate in Ngong, 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 Ngong has had a strong fall during the last 6 months. In September, the average price per m² was KSh 276.7. In the following month the price per m² fell considerably to . The price for the following two months in (November, December) had a considerable fall of 0 with regard to the previous two months. The price per m² has fallen 93 % 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 69.18 to KSh 64.44 during January, and February.
When referring to the price in Ngong (constituencies & towns), this has fallen considerably in the last 6 months. The average price for September is KSh 55,000. During October the price had a considerable fall till . During the following two months (November, December) the average price had a considerable fall of 0 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 121 % during the last two months.
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 33,250 they are 68 % more affordable than the average price for Ngong . The properties with the highest average price have 4 bedrooms, Their price is 153 % more expensive than the average. After that we have properties with 3 bedrooms priced at KSh 63,160.
With regard to the average price per m², those properties with 2 bedrooms are the most affordable ones at a cost of KSh 103 / m², with an average KSh 128.88 / m² price in Ngong. The properties with the most expensive average prices have 1 bedroom. They are 304 % more expensive than the average followed by properties with 4 bedrooms with a price at KSh 328 / m².
The graph displaying the average rent prices displays the property type "House" as the most expensive one. At an cost of KSh 33,250 it is 30 % more expensive than the average price in Ngong. "Apartment" is seen as the second most expensive property type. The most expensive property type is "Townhouse" followed by "Commercial Property". At a price of KSh 108,938 it is 252 % more expensive than the average price.
According to the average cost per m², the least affordable property would be "Apartment" at an average price of KSh 173 / m² followed by "House" priced at KSh 192 / m². "Commercial Property" is the most expensive type of property with a KSh 2,251 / m² value followed by "Townhouse" with an average price of KSh 358 / m².