The prices in real estate in Ngong Road, in the Nairobi 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 Ngong Road has increased strongly during the last 6 months. In September, the average price per m² was . In the following month the price per m² increased considerably to KSh 81,122. The price for the following two months in (November, December) had a considerable increment of 207 %. The price per m² has increased 107 % 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 62,175.25 to KSh 66,609 during January, and February.
Based upon to the price in Ngong Road (constituencies & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during September, is . During October the price went through a considerable rise reaching KSh 14,278,571. During the following two months (November, December) the average price had a considerable increase of 197 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of KSh 10,612,178 and KSh 10,900,000 between January and February.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of KSh 9,610,000 they are 51 % more affordable than the average price for Ngong Road. The properties with the highest average price have 4 bedrooms, Their price is 2120 % more costly than the average. After that we have properties with 3 bedrooms priced at KSh 17,741,478.
With regard to the average price per m² , those properties with 2 bedrooms are the most costly ones at a cost of KSh 86,027 / m², with an average KSh 41,800 / m² price in Ngong Road. The properties with the highest average prices have 4 bedrooms. They are 48415 % more expensive than the average followed by properties with 3 bedrooms with a price at KSh 8,338,169 / m².
The graph displaying the average prices displays the property type "House" as the most costly one. At an cost of KSh 9,610,000 it is 23 % more expensive than the average price in Ngong Road. "Commercial Property" is seen as the second dearest property type. The dearest property type is "Apartment" followed by "Commercial". At a price of KSh 12,602,080 it is 32 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of KSh 93,679 / m² followed by "Commercial" priced at KSh 142,279 / m². "Commercial Property" is the most costly type of property with a KSh 381,555 / m² cost followed by "Apartment" with an average price of KSh 142,994 / m².