The prices in real estate in Muthaiga, in the Nairobi region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Muthaiga has had a strong decrease during the last 6 months. In December, the average price per m² was KSh 518,509. In the following month the price per m² decreased considerably to KSh 438,397. The price for the following two months in (February, March) had a considerable decrease of 46 with regard to the prior two months. The price per m² has had a considerable increase of 180 % 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 348,825.75 to KSh 627,074 during April, and May.
Based upon to the price in Muthaiga (constituencies & towns), this has fallen considerably in the last 6 months. The average price for December is KSh 253,750,000. During January the price had a considerable reduction till KSh 193,333,333. During the following two months (February, March) the average price had a considerable reduction of 43 % 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 risen strongly 180 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of KSh 288,045,010 they are 39 % more affordable than the average price for Muthaiga. The properties with the lowest average price have 1 bedroom, Their price is 39 % cheaper than the average. After that we have properties with 3 bedrooms priced at KSh 174,618,966.
With regard to the average price per m² , those properties with 3 bedrooms are the most costly ones at a cost of KSh 9,268,256 / m², with an average KSh 627,074 / m² price in Muthaiga. The properties with the highest average prices have 1 bedroom. They are 1385 % more expensive than the average followed by properties with 3 bedrooms with a price at KSh 9,268,256 / m².
The graph displaying the average prices displays the property type "Industrial Property" as the most affordable one. At an cost of KSh 288,045,010 it is 47 % cheaper than the average price in Muthaiga. "House" is seen as the second most affordable property type. The cheapest type property is "Townhouse" followed by "Commercial Property". At a price of KSh 223,800,423 it is 22 % more affordable than the average price.
According to the average cost per m², the most expensive property type would be "Industrial Property" at an average cost of KSh 1,307,901 / m² followed by "House" priced at KSh 9,268,256 / m². "Townhouse" is the most costly type of property with a KSh 13,857,908 / m² cost followed by "Commercial Property" with an average price of KSh 13,788,754 / m².