The Kenyan residential property scene has seen drop in performance over the last four months (since December 2017.) As of March 2018, the DF Residential Market index has dropped further by 4.45% to 54.09 points with all residential property types (Townhouses, Houses and apartments) witnessing a drop in listed units in the market place. Apartments which were the most popular listings in the market place in January 2018 faced the largest loss of 8.54% bringing its index to 35.82.
However, it is not all bad news. Investors and families that have been looking for property to buy should look for 4-bedroom listings, especially houses and town houses. These two property types have experienced a decrease in the average ask price (sale price) by 27.30% and 16.45% respectively. The average ask price for houses has dropped from Kshs 67.74 million to Kshs. 49.24 million. Similarly, average ask price for townhouses have dropped from Kshs. 56.01 million to Kshs. 46.80 million.
For investors that prefer apartments here is an update. Between March 2017 and March 2018, the average sale price for a 4-bedroom apartment increased in Kilimani by 15.61% and the average return of 4-bedroom apartments as of March 2018 stood at 8.77%.