The prices in real estate in Thika, in the Kiambu 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 Thika has had a strong decrease during the last 6 months. In December, the average price per m² was KSh 48,132. In the following month the price per m² decreased to KSh 45,080. The price for the following two months in (February, March) decreased 86 % with regard to the prior two months. The price per m² has decreased 89 % 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 43,248.75 to KSh 38,461 during April, and May.
Based upon to the price in Thika (constituencies & towns), this has fallen considerably in the last 6 months. The average price for December is KSh 11,650,820. During January the price had a slight fall till KSh 9,940,208. During the following two months (February, March) the average price had a considerable reduction of 62 % 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 8,759,254 to KSh 6,958,125, which means a 79 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of KSh 7,706,250 they are 56 % more affordable than the average price for Thika. The properties with the highest average price have 4 bedrooms, Their price is 104 % more costly than the average. After that we have properties with 1 bedroom priced at KSh 9,387,906.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of KSh 23,617 / m², with an average KSh 38,652 / m² price in Thika. The properties with the highest average prices have 1 bedroom. They are 6976 % more expensive than the average followed by properties with 4 bedrooms with a price at KSh 83,500 / m².
The graph displaying the average prices displays the property type "Commercial Property" as the most costly one. At an cost of KSh 7,706,250 it is 44 % more expensive than the average price in Thika. "House" is seen as the second dearest property type. The dearest property type is "House" followed by "Commercial Property". At a price of KSh 11,098,318 it is 45 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "Commercial Property" at an average cost of KSh 1,847,884 / m² followed by "House" priced at KSh 1,857,154 / m². "House" is the most costly type of property with a KSh 1,857,154 / m² cost followed by "Commercial Property" with an average price of KSh 1,847,884 / m².