The prices in real estate in Malindi, in the Kilifi region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Malindi has increased strongly during the last 6 months. In February, the average price per m² was KSh 75,825. In the following month the price per m² increased considerably to KSh 91,100. The price for the following two months in (April, May) had a considerable increment of 157 %. The price per m² has had a considerable increase of 122 % 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 107,244.5 to KSh 131,026.5 during June, and July.
Based upon to the price in Malindi (constituencies & towns), this has fallen considerably in the last 6 months. The average price during our first sample month during February, is KSh 18,050,000. During March the price went through a considerable rise reaching KSh 22,566,667. During the following two months (April, May) the average price had a considerable reduction of 60 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from KSh 16,220,834 to KSh 12,133,334, which means a 75 % fall.