Category Archives: Index reports

Kenya ranked as the most improved real estate market globally

The Global Real Estate Transparency Index ranked Kenya top among 14 most improved countries in real estate transparency globally. The Index by consultancy firm Jones Lang LaSalle Index uses a combination of quantitative market data and information collected through surveys of its global business network.

State of Real Estate in Kenya 2014

The Market is one a bounce back after stagnation from the year 2013.  More developments are popping up with very competitive prices in the market. According to the Hass Index first quarter 2014 report property prices are bouncing back after a dip of second half of 2013. Apartments registered the highest price bounce of 2.3% on Q4 2013. Rents also registered a strong growth but at a slower rate than previously.

DEMAND FOR HOUSING & OFFICE SPACE

Data from the National Housing Corporation estimates the housing deficits to be between 100,000 – 150,000 units per year in Nairobi alone. The population in Nairobi is projected to almost double by the year 2030 and the shortfall might grow to up to 1.6 million.

The Hass Property Index reports property market hesitant in the first quarter 2013

HassConsult Ltd, real estate firm produces a quarterly index on residential property prices and rents Kenya. The Hass property indices housing prices from all published and formal sector sources. The property index for the first quarter 2013 was released Wednesday, April 17, 2013. The report showed a slowdown in the housing market in the first quarter 2013. This is mainly because of the hold off due to the election.  The index reported that House prices were almost static in the first quarter of 2013. Only stand-alone houses registered a rise of 1.2%. Town prices recorded falls in prices of 1.5% and 0.2% respectively. The report recorded 0.5% increase in house prices, driven by some continuing movement in the prices for standalone houses, but offset by marginal declines in the asking prices for town houses and apartments.

‘Utahama lini’:Nextgen and Daily Nation Promotion Winner announced

After three months of the Utahama lini competition, a promotion partnership between the Daily nation and Nextgen Properites a winner has emerged. Dennis Ndinu is the winner of 15 million two-bedroomed deluxe department along Mombasa Road. There was a record 37,000 entries into the competition. The 30 yrd Old Nakuru resident was given the key Nation newspapers MD Tom Mshindi and NextGen co-developer Ramesh Amlani on Tuesday 19 March 2013. Dennis said he could still not believe he had won.

Hass Property Index Q4 2012

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Video Source: K24TV

Construction growth slows in Q3

Growth in the Kenyan construction industry slowed in the third quarter of 2012, dragged down by prevailing high interest rates. Kenya National Bureau of Statistics’ (KNBS) latest quarterly GDP report showed third quarter growth of 0.6 per cent, compared to 3.6 per cent in the same period of 2011. “The slowdown in the activities in the construction sector is attributable to the prevailing high interest rates,” the KNBS report said.

Why real estate is the preferred investment for jackpot winners

Over the past year, many businesses have run promotions to woo customers to particular products or services and offered the grand winners hefty prizes.Interestingly, many winners in the luck games have either funnelled the fortune into real estate or are contemplating projects in the housing industry.When Money set out to conduct a quick survey, it found out that many of the people who bagged millions of shillings have committed a sizeable portion of the money to brick and mortar.

HASS CONSULT PROPERTY INDEX PRESS CLIPPINGS

The  rental  rises  have  been  sharpest  for  apartments,  up  10.33  per  cent  in  the  nine  months  since  September  last  year . HassConsult  today  announces  the  results  for  the  second  quarter  2012  of  its  house  price  and  rentals  indices,  revealing  ongoing  hikes  in  rentals  against  a  backdrop  of  stable  house  prices.

Sellers push for higher prices in flat market, as rents climb on spillover-Quarter 1 2012 property index report

Index highlights:

  • Closing prices in the middle and upper market remained subdued, down by 0.7 per cent on end-2011.
  • There was a renewed push in higher asking prices, across all sectors of the market, up by 1.3 per cent overall.
  • The strongest push for higher prices was for town houses and maisonettes, with asking prices rising 3.8 per cent on the previous quarter

The Hass Property Index 4th Quarter 2011 -Kenyan middle classes shift to cheaper housing in static property market

The shift comes against a backdrop of squeezed household budgets on inflationary pressures and near static pricing in housing.

However, prices rises continue in some areas of the housing market as developers move to recoup higher construction costs.